Market is Choppy for Now, but New Inflation Data is Coming

By Andrew Aziz  |  
Andrew's Newsletter  |  
Jun 9, 2022
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Dear Traders,

We have an exciting value-added opportunity for all new traders who are wanting to enter the markets at this time: a special FREE 1:1 coaching session with Dr. Kenneth Reid. This is the 4th bear market that Dr. Reid has been trading in, and he has offered to provide a free coaching session for new Elite annual members for a limited time. If you join or upgrade today, from whatever level of membership you are in, you will be eligible for this 1 complimentary session. This offer is only for new Elite annual members, as signing up for that level of membership assures Dr. Reid that you are committed to taking a leap of faith and devoting 1 full year to learning how to be a successful trader. You can sign up here.

The market has been trading in a very narrow daily range over the past 2 weeks. Even the notoriously volatile Bitcoin has been hovering around $30,000, failing to break meaningfully one way or the other. That adds an element of choppiness to almost every trade, but the moves within the range are strong and wild. This is a very unique market condition that I have personally never really traded in before. Nevertheless, both day trading and the selling of options have been excellent so far. You can watch the recap that Brian and I posted here. You’ll see where I got squeezed on NIO but managed to scalp a nice move on TQQQ and AMD.

At Bear Bull Traders…

Yesterday, for Wednesday Psychology, Créde led an exceptional presentation entitled: The Art of Setting Goals. The recording will be available shortly in our Education Center if you either missed the webinar or would like to watch it again.

Today, for Thursday Mentorship, John has already wrapped up his regular weekly mentorship session that starts at 11am ET. Ed’s mentorship session begins at 4:30pm ET (with 30 minutes of after-hours trading commencing at 4pm ET) and Thor is up at 8pm ET.

And Finally…

Tomorrow is inflation reporting day. Inflation is now an obsession of sorts for all investors. Everyone is in a holding pattern, focused on the US central bank, and whether the Fed can raise rates enough to dampen inflation without triggering a recession. Even consumers are in conservation mode. I have no financial problems, and yet hesitate to go over to the organic section in the grocery store or upgrade to business class for my next trip. No matter how, everyone is holding their cards, and their wallets, really tight.

Neither millennials nor Gen Z are old enough to have gone through the dotcom crash, the most recent multi-year bear market, and that may explain why many investors, including myself, do not take the bear market seriously enough. From the peak of early 2000 to when the bear market bottomed in mid-2002, we experienced a multi-year bear market. During that time, there were 2 rallies of almost 50%, but the market bottomed in the middle of 2002.

Are we now heading in the same direction?

To your success,
Andrew

PS: If you have not already, I urge you to try out our free web-based trading simulator at stocktradingsimulator.com. It’s conveniently available 24/7, whenever you have time to practice honing your trading skills.