Will COVID Lockdowns Ever End?
What a wild market we are in, thanks to the new Omicron variant of COVID-19 which is causing more lockdowns and restrictions in Europe and around the world. Apparently, our war with Covid is never going to end. All indexes are down, and IWM, as usual, is leading the weakness by dropping roughly 3%. Let’s see if this panic selling eventually ends, and if we see a Santa Claus rally this year.
Brian, Jarad, Ardi, and I recorded another episode of After Hours with Traders and posted it on Sunday. Brian came to the office, while Jarad joined via Zoom. We discussed everything from Elon Musk, to the stock market, and even crypto. Be sure to watch it here.
Registration is open for the next round of Peak Capital Trading’s bootcamp and we have limited spaces available. If you like to work on your Tradebook with Mike, have Peter or John as your mentor, work with Simon, Dimah, and Aiman as assistants, then this is your opportunity! Thor is also hosting his special series of three webinars specifically designed for PCT traders on Volume Price Analysis and Level 2. Be sure to register here before the session fills up. The last bootcamp filled up quickly and we had to make a wait list. Also, watch a few reviews from previous traders in the bootcamp here.
Brian and I traded the open live in the room this morning, our recap is posted here for today’s trading. AMC and TNA traded well for me, but my swing trade on the IWM bounce is not doing well at all, as the Russell 2000 continues to be the weakest index. As of now, IWM is only up 8% for the year, while SPY and QQQ are up 22%. This year, small caps have really lagged the other indices.
Finally, we have several important webinars this week with Aiman, Crede, and a guest webinar on Thursday for the mentorship session. Please check here for the full list of webinars.
Please note the U.S. market is closed on Friday, December 24th for the Christmas holiday. I hope you have a wonderful long weekend with your family and friends!
To your success,
PS: If you haven’t seen it yet, be sure to check out our free, web-based replay simulator here. Also, sign up for Aiman and Simon’s semiweekly “homework assignments” to help grow your trading abilities.