Stress is Real/ Going Long in a Bear Market
We have ended this week with another volatile day, where some of the big tech names dropped over 20%. ROKU and DraftKings (DKNG) have lost over 25% as I write this newsletter. The market remains in turmoil due in part to the geopolitical uncertainty in Eastern Europe and the pending increases in interest rates arising from inflation .
Brian and Jarad had some amazing opening trades on NVDA and ROKU, and I was able to get a few nice reversals on TQQQ and NVDA. You can watch my recap here where you can also observe me doing some trading. Never forget that while the market is weak, you can definitely trade short-term reversals. I received this message from one of our traders in the chat: “Andrew why you didn’t take short position in this bearish market?” You will find my answer to rezadalo in the recap.
Monday is Presidents’ Day in the United States and also a holiday in much of Canada (it’s called Family Day here in British Columbia). The markets are closed. I hope to see everyone in the chatroom on Tuesday morning. The onboarding session for new members will be held on Tuesday, February 22, at 7pm ET instead of the usual Monday evening time slot.
As an aside, I have recently received several questions about the commissions charged by brokers, and in particular about IB Canada. Here is a link you should access in order to learn more about commissions and fees. You will also find a table comparing what different brokers charge.
Since many of you reading this newsletter will be enjoying a holiday long weekend, I encourage you to take some time to practice your trading in our free web-based market replay tool.
As always, I am here to answer your questions. I also welcome any and all feedback you might have about our trading community and what we offer. You can reach out to me at [email protected] or simply reply to this email.
To your success,