WARNING: INFLATION REPORT IS COMING SOON...
These notes were generated by AI and may contain inaccuracies.
Ricky with Techbook Solutions provides a quick market update after a successful LPP live trading session. Watch live trading via the second link in the description.
Took profits on MSTZ, a double leverage inverse ETF that moves opposite to MSTR. Not recommended for beginners. MSTR consolidating above major support range. Wish could hold position longer for full sell-off, but consolidation led to giving back profits previously. This time took profits at support. If retests higher, will reopen short on MSTR by going long MSTZ.
Walked away with $5,500 today, following $5,000 yesterday.
Do not copy trades. Shorting or going long on double leverage inverse ETFs carries greater risk. Shares ideas to test if they pan out, not for agreement.
Bitcoin forming lower highs and lower lows; direction looks bearish. Stubborn support at $66,000-$67,000. As long as it holds, MSTR (dependent on Bitcoin) can sustain.
If Bitcoin breaks support and retraces to $60,000 lows, MSTR could retest previous lows of $100-$105 per share.
NASDAQ recovered and consolidating, likely to retest support. Testing slight resistance at 620 for QQQ; possible overbought reversal with another leg down.
CPI report this Friday. Drop thumbs up for live stream.
Market skyrocketed pre-market then gave it back. Discussion in LPP session.
Series of pre-market reports released. Non-farm payrolls came in at 130,000 vs. expected 66,000, supporting stronger-than-expected labor market.
Unemployment rate at 4.3% vs. expected 4.4% (no change from prior).
Strong labor market does not support rate cuts, which the market wants. Surprised market reacted positively initially, as good news typically bad for rate cut hopes ('bad news is good news' analogy). Good news was treated as good news pre-market.
Market later identified direction, reversed; NASDAQ and MSTR gave back gains. Made money going long MSTZ.
Put money where mouths are: take action if criteria, risk-to-reward, and price action align, then take profits.
Reject 'hold forever' mentality in stock or crypto markets. Goal is to make money. Be selfish: get in, get out, make money, bounce.
If over complicate it beyond that and you're doing it for the movement, I'd love to see any movement that's going to pay for your bills.
When in doubt, cash out.
No need to apologize for taking profits. If ratios no longer make sense, lack of progress, or criteria unmet, get out.
Tomorrow: initial claims and continuing claims.
Friday: CPI report (inflation report) to clarify if markets recover above moving average to 640 for QQQ or reject to 590 lows.
If direction unclear, stay cash or light on positions to avoid regret.
Stay patient, calculated, intentional.
LPP live trading for complete beginners: one-time payment for lifetime access. Members from 2018 still active. Second link in description with discount.
End year on green note.
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