Happy interest rate hike day! Today, the Federal Reserve, your friendly central banking system, is raising the interest rate by 0.75%, and the prognostications about what Chair Jerome Powell and friends will do in September are what investors are watching.
I had an amazing morning that helped me cover the trading losses of the last few days. I got really nice Opening Range Breakouts on MSFT and TQQQ, Brian had a nice short on SAVA, and Thor did his magic on AAPL. You can watch our recap here, and I encourage you to leave a comment about what you think about our trading.
Today was a very strong day for the market and market leaders did not disappoint. Alphabet, Microsoft, and Texas Instruments posted double-digit quarterly revenue growth yesterday after the Close and expressed optimism about the coming months, reassuring investors who had been fretting that the tech industry was poised for a dour second half. Microsoft gave an encouraging sales forecast, soothing fears that the strong US dollar and a weakening economy would ravage sales. Alphabet, the parent company of search giant Google, managed to post advertising revenue that surpassed analysts’ expectations. An online ad slowdown had been a particular concern of investors.
My presentation last night on risk management was well attended. Thanks to everyone for attending. The recording of it is now posted in our Education Center. Tonight, we are holding a VERY IMPORTANT webinar with Rande Howell entitled: Developing Your Hidden Strengths to Transform Your Trading. There are times when you can summon powerful strengths to engage the challenges of living. But in trading, somehow those very strengths that you need to show up big time hide from your access – and it seems without fail just when you need them the most. In this webinar, you will learn what stops you from accessing the discipline, courage, patience, and impartiality that you need in order to engage the uncertainties of trading. You will also learn how you can begin to summon up these strengths and bring a superior mind to the challenges of trading. Rande’s Wednesday Psychology presentation begins at 8pm ET.
Also, please do not forget to join us in LA on August 20 for a nice meetup that also includes a half day of presentations. You can RSVP here.
In addition, tomorrow I am giving a presentation at the MoneyShow Virtual Expo. Your support through registering will help me to build my brand with them and show them that BBT is more than just a community of traders, but that we are a very professional and large group of serious traders. That will open the door for us to work and collaborate with them more. MoneyShow is truly a big organization and I have always wanted to have a spot at their in-person events. Your support is much appreciated.
And last but not least, I will be in France’s Chamonix region next week for some running as well as for some climbing of Mont Blanc. If you are around the area, hit me up for some trail running and good wine drinking.
À un de ces quatre!
PS1: If you are not yet an Elite annual member, I urge you to take advantage of our current promotion and receive 50% off the cost of an Elite annual membership. In doing so, you will receive one full year of access to everything that Bear Bull Traders offers including all of our educational, psychological, and mentorship resources. More information can be found here.
PS2: If you have not already, I encourage 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.