Heavy Trading Loss by a BBT Trader and Myself
Dear Traders,
Happy inflation day!
Today, we once again heard that inflation in the US is cooling down rapidly, with the MoM PCI rising only 0.2%, approaching the target of 2% overall inflation. The market responded positively to this news, opening with a strong gap up and trading higher. Unfortunately, I was short on TSLA calls as you know yesterday and got stopped out as Tesla gapped up over 2.5% today.
Interpreting inflation numbers can be challenging. People come up with various measures like supercore inflation, core inflation excluding shelter, inflation excluding energy, and more, you name it! However, what we do know is that inflation in the US is coming down nicely, and the economy is not as gloomy as some may think. At least sentiment in the market remains positive.
The market continued to show strength in the morning, with most major indexes up over 1% as I wrote this newsletter. While I experienced a heavy loss on TSLA, I managed to trade NVDA short and AMS very successfully. Watch my recap, where I discuss how one of our best traders and my friend Avi had a $10,000 loss yesterday and the lessons we can learn from such days.
Our NYC event is shaping up well. Thanks to invitations from various groups, we have three groups visiting the NYSE on Friday, July 28, and August 1, 2023.
I am also thrilled to announce a new presentation coming up on Monday by my mentor and someone I greatly admire, Mike Bellafiore, co-founder of SMB Capital. The title and essence of his presentation are:
“Bella Scalping 101: The Art of Successful Market Scalping by Professional Traders at SMB Capital”.
Scalp trading involves quickly taking a position in anticipation of rapid price movements, typically within seconds or minutes. In this informative webinar, the renowned Mike Bellafiore shares insights into his and his traders’ strategies for effectively scalping the markets.
I hope you join us at the NYC event, where we will have an amazing time together. For details on all presentations, please visit our website and join us!
Reserve Your NYC Spot Now!
See you in NYC!
Andrew
