ARETE THURSDAY NEWSLETTER
Blue Skies. Rough Seas. 🌤️ 🌊
Blue Skies. Rough Seas. We have clear blue skies with nothing but sun and space above us on the Nasdaq and S&P500. Yet we are watching retail investors having a hard time adjusting. They are sailing in rough seas. They are sailing in the names of yesterday trading very illiquid stocks with hardly any earnings and revenues. I watch this happen several times over the course of my 20 plus year trading career. Here is what I can tell you. They don’t all come back. There is froth still in this market. There are companies that came public as SPACs and IPOs that never should have come to market. Some may become part of our daily life and excel. Draftkings come to mind as something that will be around in 10-20 years. I thought $SPCE would be around forever however after the recent set back they might not. Twenty years ago there were thousands of internet stocks. Exodus communication is a great example. It was the fastest company in history to go from its debut to a 100 billion-dollar company. It was also the fastest company to go from 100 billion to zero. I say this to get the point across. These smaller companies can go much lower than you think. The game has changed. Some of us are still rowing in the rough seas instead of flying in the blue skies. Wayne Gretzky said it best when asked why he was so great!
“ I don’t skate when the puck is. I skate to where the puck is going.”
The $QQQ made an all-time high and is on track for our 12% gain target of $383. The $TQQQ trade is doing excellent and will continue to outperform in my opinion. Key levels are marked on the chart. I continue to be bullish and feel the Nasdaq will continue to outperform. The $SPY closed at an all-time high of $415.87. As I stated two weeks ago when the moving averages started turning up. This could accelerate. I continue to think that is the case. The $IWM is running into a resistance level. You can see it bumping against the lower end of the upper channel line. The good news is we above the $218 support. and above all the moving averages for the first time in two weeks. The $IWM looks like it’s going to base for a bit more than rollover. Time will tell.
Let’s get to the Indexes!
Let’s get to the Stocks!
Subscribe to YouTube! 👈Subscribe and turn on notifications. Below is a link to the game plan for $COIN and the bitcoin names as well as coverage of some of the names in the newsletter. Consider making these videos part of your routine. I go over the lessons from the trading of the pro series during them and point them out in real-time situations.
As always all investment decisions need to be made by the individual. We all have different risk profiles.No two people trade the same. Understand the buy points, stop losses, trims are suggestions. For example on stops. I want to see it close there at the end of the day.
You need to develop your own process. I am willing to help and offer feedback.
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Wishing everyone Massive success!
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