In this week’s market wrap, there have been some epic moves in stocks due to earnings season, hence there were a lot of signals for stocks.
Crypto was mostly quiet last week, while building up steam to break out this week, so we had to be more precise in taking very short-term trades.
This is the reason why we cover a broad range of markets, so that we can focus our attention (and capital) on whichever market currently gives the best returns.
Overall, earnings were good, hence the major stock indices were bullish, and many stocks were making new ATHs (all-time highs).
Some of the most exciting trades were Zillow (Z), which we bought on a false breakout, and got stopped out the next day. The next day, it plunged 25%, thus you can see why the stoploss is important in trading.
We also shorted Moderna (MRNA), which gave a windfall profit when it plunged 30% in a few days.
Crypto Market Highlights
The crypto markets were quite a mixed bag, with BTC and ETH staying quite, while many Alt coins started breaking new highs.
Since the coins could break out at any time, we set up alerts for all of them, so we would not miss the action.
Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.
Leave a Reply
Want to join the discussion?Feel free to contribute!