Directionless Market and Self Reflection
The market continues to be volatile, but choppy, meaning volatile and directionless moves. Today, I had a very nice short on TSLA and then flipped the position on long and profited both ways. I then experienced a series of small losses on TQQQ, AMD, and SOXL. You can watch my recap here.
Tonight, commencing at a special time of 5pm ET, Créde will be presenting her monthly course. Tonight’s webinar is titled: Discovering Your Inner Demons Through Self Reflection. Please note as well that Créde has a course that can be purchased directly from her website.
We are almost sold out for our Florida meetup. The legendary John Hiltz will also be joining us at the event to trade his famous Break of High of Day Strategy, right next to us, live. There are a few spots left though. Please join us! Don’t forget that we have received a very good discounted price of $165 per night from the Westin (a luxury hotel) for our attendees. You can sign up for one of the last spots here.
While the Fed raises rates and the economy slows, President Biden played down recession risks in a CNN interview on Tuesday. He said that if it does happen, he believed it would be “very slight”. The Fed’s position has been the most pronounced, but there are few signs it plans easing back. Cleveland Federal Reserve President Loretta Mester said in a Bloomberg TV interview on Tuesday that she saw “no reason” to alter the Fed’s plans to reduce the size of its balance sheet.
The inflation report number, the CPI, will be released tomorrow. It will be interesting to see what volatility there will be following its release. As I am writing this newsletter, the market is almost flat.
To your success,
PS: If you are not yet an Elite annual member, I urge you to take advantage of our current promotion and receive 50% off the cost of an Elite annual membership. In doing so, you will receive one full year of access to everything that Bear Bull Traders offers including all of our educational, psychological, and mentorship resources. More information can be found here.