Collapse of $NVDA and a $30,000 Reversal on $TQQQ
We have been seeing some remarkable market volatility. Today, the market experienced a significant drop due to stronger-than-expected retail sales numbers, indicating that consumers are still spending robustly. This suggests that the economy hasn’t slowed down enough to cool down inflation, which, once again, means higher interest rates for longer periods. Everybody is sick of this inflation and interest rate game I am sure.
The market didn’t react favorably to this news and saw a substantial decline. Notably, our buddy $NVDA shares dropped by over 7% due to news of stricter export restrictions on their chips to China. As you know, the US and China are deeply involved in a tech war. However, $NVDA managed to make an impressive recovery, and many of our traders, including me, benefited from a significant rebound in $TQQQ, from a very strong level in the $QQQ index.
It was an incredible experience! I made the trade right in the midst of our chatroom with everyone present. We had a lot of fun. If you’d like to see how I traded, watch my recap here.
Today, we hosted an informative educational webinar in the chatroom featuring Bookmap, a software that provides valuable insights into liquidity, order flow, and Level 2 data. Thor has been using Bookmap effectively, and it has been a game-changer for many of our traders.
Tonight, I will be presenting some options trading strategies based on what Avi and Ardi are trading. Ardi will be joining me as well. This webinar is FREE for all Elite members and will be recorded for 24/7 viewing at your convenience.
If you’d like to attend the webinar but aren’t an Elite Member yet, please take advantage of our Halloween discount code.
As an Elite Member you will secure a full year of complete access to our community, all courses, live webinars, and mentorship sessions are included.
See you in the chatroom,