First In The Billionaire “Space” Race?
Dear BBT Family,
Norm here, providing this week’s update on Bear Bull Traders. Our usual weekly report comes from Andrew of course, but he is currently climbing in the beautiful mountains of Peru.
Over the weekend, we saw the first flight into space of a billionaire, or did we? Sir Richard Branson was among the crew of Virgin Galactic’s ($SPCE) VSS Unity spaceplane. The six people on board reached an altitude of just over 86 kilometers, or 53 miles above sea level. While a remarkable feat, some are questioning whether or not they actually achieved a flight into space. The Fédération Aéronautique Internationale, or FAI, recognized as the world’s governing body in aviation and spaceflight, has defined the boundary of space to be the Kármán line, which is 100 km (62 miles) above Earth’s mean sea level. Jeff Bezos, founder of $AMZN and competing commercial space company Blue Origin, did not let this fact go unnoticed. Having been usurped by Branson’s launch by only 9 days, Blue Origin tweeted out this knock on their rival:
There is an odd sense of satisfaction that comes from watching the world’s richest man “shitposting” another multi-billionaire. Many in social media were predicting $SPCE to open at $100 the day following the launch, but after announcing a secondary as a shelf offering around the time of the market open, the stock dropped precipitously, as much as 20% as of writing. Is this purely due to the shelf offering, or could it be the market is underwhelmed by the flight?
Thanks again to all of the traders who came out to celebrate Thor’s 40th birthday in NYC. We received images back from the photographer and they can be viewed here. If you were unable to make the NYC meetup, don’t worry, we are working at organizing more gatherings across the US and around the world. We, like so many organizations and businesses, are hoping to be back to normal very soon! The next meetup we currently have scheduled is being hosted by Mike on August 7th in Phoenix, AZ. Please come out and have a drink on Andrew. You can RSVP here.
We have another big week of webinars scheduled, starting off with Thor’s on Strategy Tuesday. Thor’s presentation will focus on reading Level 2 quotes and how you can use them to better predict price movements in stocks. Thor’s trading success depends almost entirely on this skill and he will teach the rest of us how he approaches this critical indicator. Be sure to set some time aside for this important webinar at 8pm ET Tuesday.
For Psychology Wednesday, Mike will be presenting a webinar titled: Proper Psychology for Trading. This module will put you in the front row of learning about how your mind deals with uncertainty, the focus needed for trading, and the reality of how you should be thinking as a trader. The human mind has evolved over thousands of years in terms of how it deals with uncertainty; however, a trader must refocus the mind to concentrate on what is important during the moment. Learn how focusing your thoughts during the performance of the trade will enable you to succeed as a trader. Mike’s webinar will begin at 8pm ET on Wednesday.
For Mentorship Thursday, since Andrew is traveling, we will be converting his normal 11am ET session into an “Ask Me Anything” style of discussion with Aiman and an additional BBT moderator. Thor’s mentorship session will be held at its normal time of 8pm ET in the webinar room.
For Crypto Friday, join Jarad this Friday and every Friday at 11am ET as he leads a mentorship session focused on discussing the markets in general and all things cryptocurrency in particular.
Of course, all of our webinars are recorded and available for later viewing in case you’re unable to participate live. For a complete list of upcoming webinars, please visit our webinar page and check our searchable Education Center for past recordings.
Andrew will be away from reliable internet access for most of the week, but myself and the rest of the mod team will be here as always as we await his return and look forward to his adventurous stories. Let’s just hope he doesn’t fall in a crevasse again!
To your success,
PS: While the 4th of July promotion is officially over, we secretly left the discount code active. So, if you’re looking to become an Elite Member and gain access to all of the great webinars mentioned above, you can still get 40% off of the Elite Annual membership by using the promo code FIREWORKS40, or simply clicking here. Shhhh … don’t tell Andrew!