Meme Stocks On Fire as We Head Toward Recession?

Dear Traders,

Norm here for Andrew, as our fearless and possibly crazy leader is in Morocco participating in the Marathon des Sables, a six day 251km (156 mile) ultramarathon through the Sahara Desert. It is often referred to as the toughest foot race on earth. While I don’t know why anybody would want to put themselves through this torture, I have the utmost confidence that if anybody can finish this race, it is Andrew. I’ve been monitoring his progress since he started and I am glad to report that he has safely arrived at “Bivouac 3” this afternoon (in his time zone), no doubt ready to rest for the evening, having now completed the third leg of the race. I can’t wait to hear about his adventure once Andrew returns next week.

While Andrew is off conquering a very significant life goal this week, we’ve had an incredible market to trade. Yesterday, tech was in play and the meme stocks began to catch fire. This morning in the premarket show, Carlos and I discussed AMC, GME, and a few other stocks, while Thor and Jarad traded the Open. Jarad took an amazing trade on AMC, and had the room going nuts. You can check out his recap here.

Ardi has just finished creating an excellent video breaking down the current yield curve inversion concerns and what they may mean for the market. Historically, yield curve inversion has been one of the most accurate predictors that the US economy is about to head into a recession. Be sure to check out Ardi’s video here for his thoughts on what might be coming up in the near future. Additionally, last night Ardi presented a very informative webinar titled, How to Utilize TWS for Options Trading. In case you were not able to make it live, the recording will be available for Elite members soon in the Education Center. If you’re not already an Elite member, we have just launched our “Hello Spring” promotion. You will find the details here. You will receive 50% off the price of an Elite annual membership and in return you will gain access to all of our past webinars as well as those planned for the future.

Tonight, for Tuesday Strategy, Peter will be presenting, Trading the Right Share Size for You. Peter will examine five different proven and tested methods for picking your share size. He will review the pros of cons of each so that you can effectively determine how to select your own perfect share size. Peter has spoken on this topic many times over the years and I know he refines his commentary, examples, and process for each opportunity. I hope to see you tonight in the webinar room commencing at 8pm ET.

Tomorrow, for Wednesday Psychology, Mike will be leading the third part of his series on probabilities, How to Trade in Strategy Sets. As we often discuss at BBT, even the most successful trading strategy will not be right every time, and it is therefore essential to think in probabilities while executing trades. Mike’s webinar will start at 8pm ET tomorrow night.

As Andrew would say, “To your success”.
Norm

PS: Don’t forget 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. While there, you can also sign up for emailed homework assignments that will hit your Inbox a couple of times a week.