Market is Moving Higher, Russian Billionaires Under Pressure
This morning, all of the Stocks in Play started off very slow and it did not look like it was going to be a volatile day, but then the market overall and the semiconductor sector in particular began a huge rally and, as of the time of writing this newsletter, QQQ and IWM are up over 1.5%. Brian executed a very nice short on PLUG, Norm shorted PLUG in the premarket, and I made two amazing trades on NVDA and AMD. They were a perfect way to extend my very enjoyable holiday long weekend! You can watch the recap that Brian and I posted here.
I want to take this opportunity to remind you that we have some seats left for our 5th Peak Capital Trading boot camp. Traders who attend our boot camp will receive an intense 3-month mentorship and training program that will take their trading to the next level. The details of the program are on our website. It includes:
- 1hr per week of semi-private mentorship with your assigned Captain and Co-Captains
- 1hr webinar each week focused on your TradeBook
- 1hr webinar each week directed toward improving your trading strategy and psychology
- Access to a private mentorship support group (only for Peak Capital Trading traders)
- Access to review and feedback from our senior traders
- Access to a 1hr group mentorship session with me and other senior traders
- Access to a complete (and new) library of proprietary trading education materials and resources (this is different from what we offer at Bear Bull Traders)
It is best to talk to our previous participants to learn whether or not the boot camp will be a good match for you. To help you in making a decision, we have compiled a playlist of testimonials from previous boot camp traders. You will see that it includes both positive and negative feedback. Here’s the link.
Global Economic News Headlines
Russian President Putin will meet executives and owners of major businesses and corporations on Wednesday. Sanctioned or unsanctioned, Russian billionaires face fresh hurdles after Putin called time on foreign stock listings, with companies required to delist their overseas shares. Russia’s military shelled southern and eastern Ukraine overnight, with President Zelenskyy saying Moscow had launched a new campaign focused on the Donbas region. French Finance Minister Bruno Le Maire renewed calls for European sanctions to extend to Russian oil, while Stellantis idled one of Russia’s last auto plants. Europe expects to pay the bulk of Ukraine’s reconstruction costs.
One easy way to make money these days is to wake up in the morning and short Japanese yen. Most readers of this newsletter are Americans, and they are not sensitive to foreign exchange rates. I grew up outside of the United States, and when most people outside of North America wake up, one of the first things they do is check their country’s currency exchange rate against the USD. From a taxi driver to a businessperson, they know their livelihood depends on the USD exchange rate.
With that thought in mind, and with traders looking for more concrete signs of intervention, the Japanese yen extended its longest losing streak in at least 50 years, even after Finance Minister Shunichi Suzuki stepped up his verbal defense of the currency. As mentioned, shorting the yen has become a favorite trade as the dovish Bank of Japan keeps policy rates at almost zero while the Federal Reserve launches a hiking cycle. On the US side of the Pacific, St. Louis Fed President James Bullard said that the central bank shouldn’t rule out rate increases of 75 basis points. The market is digesting all of this as we speak (and as I write!).
BBT News and Webinars
Today, for Tuesday Strategy, we are hosting the first of a very important series of webinars being led by our legendary trader, Thor. The series is titled: Volume and Price Analysis 101. Over a number of sessions, Thor will review his advanced training modules that zero in on how he reads Level 2 and how he so successfully conducts VPA. In tonight’s webinar, which commences at 8pm ET, Thor will start at the basics and present the topic of VPA from the ground up. He will break down the fundamentals of candle formation under volume and explain how you can begin to read into the delicate balance of supply and demand between the market makers and the market’s participants.
As an aside, I want to mention that Thor’s new book is in the editing phase and will soon be released for your reading pleasure. In addition, as you may be aware, Thor serves as a senior educator for the Peak Capital Trading boot camps. Thor is a very gifted trader who you will learn much from. I accordingly encourage you to check out the complete curriculum and calendar for our upcoming boot camp here.
I have now booked my flights to Portugal for May 6th to 12th. I will be running on Faial Island in the Azores, Portugal. Please join me if you would like to trail run in this paradise for trail runners. Here is a link for further information.
As I mentioned in yesterday’s newsletter, Ardi is on Twitter and he also publishes his weekly macroeconomic analysis from the Peak Capital Trading office. Those of you with an interest in understanding how the smart big money moves can sign up here. You don’t want to miss his weekly commentary! Ardi has also just published a new video for options trading titled: Risk Management and Profit-Taking Targets for Different Options Strategies. In this recorded time in the chatroom, Ardi discusses proper risk management and profit-taking techniques for different options strategies. This video is an excellent learning opportunity because the approach you take to risk management should be very different depending on the options strategy you are using.
To your success,
PS1: 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.
PS2: If you are not yet an Elite member, I encourage you to take advantage of our “Hello Spring” promotion. You will find the details here. You will receive 50% off the price of an Elite annual membership and in return you will gain access to all of our past webinars as well as those planned for the future.