Tame the bull, wrestle the bear

I find today’s quote a little ironic because I’m basically a bull trader.

I have specific reasons for this, which I go over in detail inside the first section of my upcoming course (which is almost finished filming).

Of course the time period that Mr. Livermore lived in made it prohibitively difficult to trade the way I trade. Mostly because he didn’t have access to the kinds of Options that we now have.

He was forced to be speculative.

Whereas today I can be bullish, make good money on sideways chop, and even fix losing trades so that I have the chance to exit without losing money. 

It’s pretty amazing.

Anyway, if you’re reading this, I’m probably running around the country on my way to visit family. I’m actually more concerned about getting this newsletter out to you in a timely manner than I am about my trades. My trading system makes it easy to relax and enjoy life.

It’s pretty amaz— 

... I just said that.

Okay, well, on to today’s headlines... 

As the president attempts to fire a Fed governor, Wall Street appears largely unbothered. What changed?

Yahoo Finance

Why it matters …

In times past, the President’s unprecedented move of firing a Fed Governor would be a major market mover. This event was a “nothing burger.” Per the article …

“As economists Stephen Brown and Thomas Ryan from Capital Economics put it in a note on Tuesday, ‘It remains unclear whether Trump’s letter firing Cook, posted on social media [Monday], will have any practical effect on policy setting in the near term.’"

The article says that the President, the Fed and the market are finally aligned with respect to lowering interest rates, so who is on the board does not matter so much. Timing may not be everything, but good timing never hurts!

Comments: Markets are opening flat/mixed this morning with the Dow and Bitcoin getting a little bid. The consensus is that the market is waiting on NVDA earnings after the bell this afternoon. NVDA is 8% of the S&P 500 with respect to market capitalization so their quarterly earnings move the market. Expect tomorrow’s open to reflect whether NVDA beats, meets or misses their earnings estimate and their expectations going forward.

Here’s an idea for 2.05% return on risk for next Friday’s expiration...