US Economy is on Fire and China is Slowing Down!
I hope you are well and have had a great trading week. Volatility has been returning to the market, providing traders with more trading opportunities. Today, I traded TSLA and TQQQ for small bounces and worked my way through a four-figure day. I made a quick recap which can be found here.
One of the key reasons I fell in love with trading was the freedom it provided me to travel the world and work on my own schedule. During these times, I met many other traders and learned about their journeys while traveling. Paras was one of those traders I met, and if you aren’t aware, he managed to reach a point where he is now trading full-time, having left his six-figure IT job to become a full-time trader. Witnessing people living their dream lives is truly inspiring!
I hope that one day, all of you can find yourselves in a position to live your “dream life,” whatever that may look like. For me, it meant traveling and working on my own time; for Paras, it meant quitting his job and working for himself. No matter what your dream life entails, I hope you can achieve it.
Speaking of Paras, today marks his 34th birthday! Someone shared this awesome picture of him from 10 years ago!
In honor of his birthday week, Paras has kindly offered his course “Reading the Tape – A Game Changing Edge in Trading” at half-price for $999. In many cases, you can make this money back with just one good trade! Paras has received over 100 positive reviews and has helped many achieve consistency.
Only until Friday, as part of his birthday celebration, Paras is offering his course for the reduced price of $999.
The market seems to be slowly moving lower. In the first half of the year, we witnessed one of the best rallies, with major indices moving more than 20%! Therefore, the second half might be characterized by choppiness, with the market not making significant progress. Yesterday, we received new economic data from China, and to put it bluntly, it seems like China is undergoing a significant deflationary bust. The Central Bank of China has again cut rates, but it appears to be too late to salvage the market there. Retail sales continue to decline, and the government is avoiding reporting youth unemployment numbers due to “sampling errors”! It is estimated that youth unemployment in China has reached a record high of 22%.
On the flip side, the US economy is thriving and catching everyone by surprise. Retail sales grew by 1% month over month, and the Atlanta Fed now estimates Q3 GDP growth to be at 5% annualized!
The key question on everyone’s mind is whether the US and the rest of the world can continue to grow while China, their biggest trading partner, is experiencing a deflationary bust.
What are your thoughts? Will the market continue to rise, or will it be characterized by volatility? How are you currently investing your money? Feel free to share by replying to this email.
To your success,