The market staged a late day rally after an early-morning plunge, but there’s still a lot of uncertainty…
And it’s going to stay that way until we find out by how much the Fed is raising interest rates.
What’s the quote? Ah, that’s it, Dr. Samuel Johnson – “Depend upon it, Sir, when a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully.”
I love that people back then would do the most brutal stuff imaginable but were oh so delicate with their diction.
Anyway, tech stocks might be looking at a “hanging,” and the housing market could be set for the gallows too. There’s a real danger that would-be buyers are simply being priced out of the market by the surging mortgage rates.
I wouldn’t be surprised to see yesterday’s momentum carry into this morning, as traders try to lock in gains before the Fed makes its announcement. It’s only the second day of the trading week, but it’s going to feel like a whole new year in two days, as the entire trading environment will have changed.
We could be entering a sustained bear market. But a good trader knows how to gain regardless of the circumstances.
Don’t miss “The Best In The Game,” Chris Hood, with some sage advice about how to handle the situation.
It’s not just about making the big wins… it’s about avoiding unnecessary losses. And the key is mindset, mindset, mindset.
Go forth and conquer.
Any strategy that makes you money consistently is worthwhile.
Though many new traders believe that trading is primarily about indicators and tools, Chris maintains that it is at least 95% about emotional control.
This is especially relevant in this bearish, choppy market which has made the trading world extremely difficult.
Learn some pro tips to come back from your losses and stay in the game.
WORD ON THE STREET
Ford Falls, Queen Elizabeth Buried, Beyond Meat COO Arrested
- Ford Falls In After-Hours – Ford (F) sank in after-hours trading after the company issued a profit warning for the third quarter. Because of supply chain issues, the company is expecting to pay about a billion extra dollars above what was anticipated. Third-quarter adjusted earnings are now expected to be between $1.4 billion and $1.7 billion.
A Royal Sendoff – In a funeral rich with pageantry, Queen Elizabeth II was laid to rest at Windsor Castle. “In the midst of our rapidly changing and frequently troubled world, her calm and dignified presence has given us confidence to face the future, as she did, with courage and with hope,” said the Dean of Windsor. Charles III is technically already king, but his coronation has not yet been scheduled. It may not be until spring or summer next year following a “period of mourning.”
Beyond Meat Exec Allegedly Takes Food To New Frontiers – Beyond Meat (BYND) has been having a horrible year, with its stock losing almost 65%. Now, its COO is accused of what could arguably be considered cannibalism. Doug Ramsey was arrested for biting a man’s nose during a fight. Well, at least the cows are safe.
Rumble Goes Public – Rumble Inc. (RUM), a YouTube competitor backed by Peter Thiel, surged by about 40% on its first day on the market. The company is gaining users, especially conservatives frustrated by what they consider censorship. App installs for Rumble were up by 250% in August. About 7 million total have downloaded the app.
HOT SPOTS: What’s Going on in Geopolitics
- Lula Pulls Ahead In Brazil – It looks like progressives are going to score another victory in Latin America, this time in the presidential election in Brazil. Luiz Inacio Lula da Silva now has a nine point lead over incumbent president Jair Bolsonaro.
Isn’t This Election Interference? – The chairman of Germany’s Social Democratic party warned that a projected victory for the right-wing Brothers of Italy party in the upcoming election would be dangerous. “Italy is better off with Enrico Letta at the top and not right-wing populists and neo-fascists,” said Lars Klingbeil. He argues that it’s “not just a question of who leads Italy, it will also set the course for Europe.”
Baltics Close Borders To Russians – Ordinary Russians will find themselves not welcome in three key European nations. Latvia, Estonia, and Lithuania have all announced that they will not let in Russians, even if the Russians have a valid visa for the Schengen Area. “Russia is an unpredictable and aggressive state,” said Lithuanian Interior Minister Agne Bilotaite. “Three-quarters of its citizens support the war.” She said that the idea those who support the war can travel around the world is “unacceptable.”
CUTTING EDGE: What‘s Happening In Tech
- Most Tracked Flight In History – Flightradar24 reports that the flight that took the Queen’s body to London was the most closely followed flight in history. More than 4.79 million people were watching on its website and almost 300,000 watched on a YouTube stream.
Rockstar Rocked By GTA 6 Leak – Social media exploded after part of Grand Theft Auto 6 was leaked by a hacker, including clips from the game and character creation. “We are extremely disappointed to have any details of our next game shared with you all in this way,” read a statement from the Rockstar Games Team.
Jack Dorsey Will Be Deposed – The Twitter co-founder will have to testify in the lawsuit between Elon Musk and Twitter (TWTR) as the TecnoKing tries to back out of his takeover bid. Dorsey had earlier seemed to endorse the takeover. “Elon is the singular solution I trust,” he had said. “I trust his mission to extend the light of consciousness.”
FOR YOUR CONSIDERATION
“How do you know which tickers to trade?”
So when looking at your portfolio and it looks like a bloodbath, consider the following to keep yourself in the right mindset.
Bear markets always end, and bull markets always follow.
We could be in a sustained bear market. But it’s times like this when mindset is most important. Chris Hood, your Options Coach, has some wise words about how to handle this historically volatile trading environment.
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