Markets Ripping Higher and More Tech Layoffs
It was an amazing trading day with our community in the chatroom! AMD went up 10%, NVDA went up 8%, and TSLA went up 8%. You can watch the recap that Brian and I posted here.
As I wrote last week, the market is cooking something. Everything seems to be a buy these days. Why is the market going up?
Spotify has become the latest tech giant to be linked with job cuts. I woke up with news that Spotify is now laying off 6% of its workforce. The wave of layoffs comes with pressure from Wall Street on executives to “do something” to cool down the labor market and increase the profit margin. In the end, it is what the Federal Reserve, the US central bank, wants: a cooling down of the job market, which translates into a cooling down of the economy.
The market continued to move higher today, with the semiconductor industry leading the charge. Ardi and I discussed this in our newest video published today. You will find our video here. We believe bonds are some of the best investments you can have in the first half of 2023.
For Tuesday Strategy and TradeBook, Paras will be leading a webinar titled: Reading the Tape – A Game Changing Edge in Trading. As an intraday trader, what if I tell you that you can predict 70-80% of the time whether a stock will trade higher or lower from a given price just by analyzing the order flow? It might seem too good to be true, but this is what mastering the skill of reading the T&S prints and Level 2 data (together known as the “Tape”) brings to the table. Quite simply, it is a game-changing edge! In this session, Paras will establish a foundation on how and why professional traders use the skill of reading the Tape in order to trade profitably and with conviction. Paras’ webinar begins at 8pm ET.
We have launched a new Insider page at TradingTerminal.com with information on what politicians, r/wallstreetbets, and more are trading. Check it out here.
For Monday Onboarding and Technology, Carlos and Mike will walk you through the tools needed to start your trading career and introduce you to both our philosophy of education and our suggested path to success, with the end goal being that you will be able to build your own winning TradeBook for the stock market. All members, and in particular our new members, are most welcome – and very much encouraged – to join us tonight at 8pm ET.
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