Another week of roller coaster ride with the stock markets worldwide. When I told the premium members that I expected after end of March S&P would collapse back down to around 2400, many were in disbelieve. Well, S&P tanked hard down to near 2400 on Wednesday. The timing sounds amazing but in fact it is just a simple observation.
What I noticed is that everyone suddenly turned into experts on COVID-19. That, of course, includes all these financial analysts coming out with their fancy projections and forecasts. However, from the medical papers published by the scientists, I’ve learned that we actually know almost nothing about the virus so far. Even the specialists who are studying the virus do not know enough about it to make any sensible projections on when and how the outbreak will be contained.
When we do not even know what we are dealing with, how can we produce meaningful projections?
So all these firms are selling a fast bottom to drum up business, nothing more.
The consequence is more downside once they run out of suckers. Of course, sometimes people get lucky and if this outbreak suddenly disappear for good, I am all for that. It is a nightmare that this world is not ready for.
I am wrapping up several videos this week. The first one is out on youtube already. It is a quick reminder on what to pay attention to when day trading Emini S&P during crisis. Check it out!
I am still working on the full length lessons for Trading Success Blueprint and Emini S&P Day Trading Course. Due to the self isolation rule here, I am working with minimal help from others at the moment. It feels nostalgic in a way that it reminds me of doing research on trading models alone decades ago. I hope that I can put out something within a week or so.
I came across this video with Sadhguru’s explanation on why meditation does not work for many. He summarizes this so well. If you find meditation is not doing anything for you, you probably need to watch this. It also reminded me to produce a lesson on meditation for traders since it is an integral part of TSB.
Will take a break this afternoon and resume working over the weekend.
Have a great weekend all!