Arete Thursday Newsletter

If you put infinite monkeys in a room one will type the Illiad. 📖🖥️🐒

“If you put infinite monkeys in a room one will type the Illiad.”

-Nassim Nicolas Taleb

When we are in times of stress we look for comfort. Anything that confirms we are right. This strokes the ego and easies the mind. So we go looking for any confirmation for our position. We seek it out. This is usually done in the stock market in finding people that are long or short the same stock. We discuss our position and commiserate. They are in a similar position and agree with us. This is called confirmation bias. It's deadly and will cause you to have avoidable losses. Instead, of focusing on the possibility of one of the infinite monkeys agreeing with you. You can focus on what you can control.

You can control:

• Position Size

• Percentage of capital invested

• Amount of time educating yourself

• Stop-loss process

• Trimming/locking in profits process

  The list of what you can control is endless. Just like the people who will confirm you are right as you lose money. Where you put your focus is up to you.

The $QQQ reversed Tuesday’s gain and actually closed lower than the previous bars open. This should have led to more selling today. That is not what happened. The low of today on the $QQQ was at $317 right where we closed yesterday. Also, we touched the previous high of the bar before settling right where we opened. For those that study candlesticks, this bar is referred to as a long-legged dogi. It expresses indecision which we have plenty of right now. Some people actually play this bar as a reversal. This is because both selling and buying have been rejected. While this is a positive development, I would like to see a higher close above the bar today. Watch for a close above $323. We are bottoming but that does not mean the bottom is here. The $SPY bounced right to $410.26. which is back through the lower trend line channel of the upper trend within one day. This is mean the long-term uptrend is still intact! The $IWM held its ground but is still is looking for footing. Our first goal with the $IWM is to get over $218.18 Let’s get to it!

Let’s Look at our Indexes!

Let’s Look at our Stocks!

You are going to see more stocks added shortly and new leaders emerge. Consider watching the videos and turning on notifications on Twitter. This market is moving very fast.

Subscribe to YouTube! 👈Subscribe and turn on notifications. Below is a video of Thursday’s stock market Tons of actionable ideas. Also, I walk through the $AMC trade. Consider making these videos a daily part of your routine. If 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.

Please make sure you Subscribe to Twitter! 👈and turn on notifications. There are times my updates are timely in regard to the Newsletter as well as other ideas. I called Short levels on $SI $UPST $PTON today as well as two buys on $AMC. You can see the timestamps.

Any questions please message me.

Thank you again for all the messages telling me how this Newsletter improved your performance and made you a better trader!

Wishing everyone Massive success!

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