Hot IPO Market and Cash is Finally the King!
The market made a strong move towards a 52-week high today. Although it started slow, it turned out to be a volatile day with plenty of trading opportunities. All sectors closed in the green, with real estate and utilities leading the way.
First, we witnessed a hot IPO after many months. $ARM, a chip design market based in the UK, had its shares open at $56.10, steadily climbing, and closing its first day at $63.59, which is 25% above the IPO price. Paras made a killing trading ARM in the chatroom with the community! See what Paula is saying about her trade with Paras.
I focused on trading TSLA and managed to recover some of the losses from yesterday’s massive loss with the assistance of a trader from Jordan and his Bookmap analysis.
Bookmap is a powerful Level 2 visualization platform that also offers our community members a discount code. Make sure to use the discount code BEARBULL20 when signing up.
For those looking to master trading Level 2, Bookmap, and Volume Price analysis, be sure to check out Thor’s mentorship sessions on Thursdays at 8 p.m. in the Bear Bull Traders’ webinar room.
Bridgewater Associates founder Ray Dalio expressed his preference for cash over owning bonds. He mentioned, “I don’t want to own debt, you know, bonds and those kinds of things.” He highlighted that when debt becomes a significant part of the economy, it tends to compound and accelerate, making cash a more attractive option. Does this suggest a credit event is approaching? Currently, the stock market doesn’t seem worried, with SPY moving towards a 52-week high.
The Peak Capital bootcamp is going strong, and we received feedback from one of our members today on X. We are set to begin the Live Funded Trading Account for our traders on October 1st, offering up to $10,000 in profits to boot camp attendees based on their trading results. If you’re keen to learn more about trading at Peak Capital Trading, explore our program for January 2024.
In terms of year-to-date (YTD) performance, the Nasdaq technology sectors, represented by QQQ, are leading with over 42%. SPY follows with 18%, while IWM and Dow Jones are at 7% and 5.6% respectively. It hasn’t been a great run for Dow Jones and small-cap companies so far, but let’s see what the remaining three months have to offer.
Last but not least, as fall approaches and schools are back in session, many parents find themselves with more time to focus on learning and trading. To assist with this, we’re excited to offer a 50% discount for our Elite Annual membership.
To your success,