Next week would be a busy data week in the absence of a government shutdown. But should it continue, the release of CPI (Wed), PPI, claims, advance retail sales (all on Thu), and housing starts (Fri) data will be delayed. A handful of Fed data will be available, however.
We'll get the NY Fed Empire Manufacturing survey, Chicago Fed Retail Trade Summary, Beige Book (all on Wed), Philly Fed Manufacturing Survey (Thu), and industrial production (Fri).
The FOMC Blackout period begins on the 18th. Prior to that, we’ll hear from Paulson (Mon), Powell (Tue), Bowman (Tue), Collins (Tue), and Waller (Tue, Fri).
Truth, brother. I’ve got two small trading accounts blown this year, but one is up 400% and another is up 100%. I was able to see the potential move on PLTR yesterday by buying puts Thursday and banked at the lows. But…every dog has his day, and I just consider it putting myself in a position of luck. Now I’ll be prepared to trade a bit less into year end. All good lessons.
My thesis for the trade…all based on EXPERIENCE. Typically, when super bullish behavior becomes insanity, we see one day of the week less bullish, which last week was Friday. If a huge Wednesday pump occurs, typically Thursday or Friday are bearish. I was expecting some Wednesday selloff but never got it, so here we are. I was expecting some wild Friday action and we certainly got it. But, on PLTR, four up days Mon-Thur with no movement, and Fridays have become bearish as of last week…I bet on another Friday dump AB=CD harmonic move, and we got that exactly.
It’s weird seeing potential moves before they happen, but it’s all depending on others to make you a winner, as Mark Douglas says, so it’s not necessarily a satisfying feeling. Just one I needed to express to get a win. Again, experience.
Do you know who Dan Zanger is? Check this out. It might be the best trading video I’ve ever seen with so much truth in it.
https://youtu.be/074nnUbDDXo?si=TPRIELHxS05RpciR
Blessings.
P.S. To anyone reading, check out the 4-year presidential cycle. It almost never fails. Good time to go cash if you’re up huge amounts this year. Also, been failing in trading since 2018.
Market bloodbath brewing on Monday
This Mon US stock markets are open, but Banks are closed for Columbus / Indigineous Peoples day. Most exchanges won’t settle deposits until Tuesday
Traders won’t be able to add funds to manage margin. Liquidation armageddon incoming.
Well, no, that was a dip. However, next was the bigger one. Bad case scenario, it will get to my purchase price within next week. The absolute worst (highly unlikely) is that I am gonna wait till or maybe hold through earnings.
26.48 after hours final price, I think we are back to 27.05 within Mon-Tues
OMG, lost 6k today (a lot for me), and was hoping my trades would settle Monday so I could get my buying power back and buy some dips. But apparently the market can recover without me Mon. and I'm doubly fukt. Soooo praying for flat or down until Tues. Ugh.