Another Non-Farm Payroll week ended with a surprise bearish shock from NFP but then S&P shake that off later to close higher. This should not be a surprise given Tuesday was the week low and that Powell’s speech timed to the T to test the daily up trend line from above and then took off. Another NFP week wonder.
Going forward, we are now inside the holiday season and majority of the firm traders and pros will wind down their trading. Only those who did not make it to the bonus requirements will try hard to push for their year end bonus. As a retail trader, there is no point to force yourself to trade in the coming weeks. It is better used for reflecting and improving your trading approach such that you are better prepared by next year.
Here is a video from someone who is more optimistic than most other videos I linked to in this blog. Good to take a look at someone who holds a very different view from your own to keep our egos in check.
Of course, I don’t think they understand what is really going to happen in 2023. And one of such risks is well explained in this interview of John Mearsheimer. It is not about the economy for 2023, it is the split up of the world that will produce total chaos worldwide.
For what is explained in this video, I actually experience this first hand on the investors’ front. For example, many venture capitals and private equity firms are burnt bad by the FTX fallout. They literally have guns pointing at their back on how they are going to make their investors’ whole. I told quite a number of firms that the crypto stuff their are chasing do not add up, way back in 2021 and early 2022 when we were doing our fund raising round. I was laughed at back then and now, they are “chicken little” asking what I think will happen next.
I don’t think they are ready to accept what I think will happen next so no point to further the discussion.
I got sick again thanks to many of my friends are sick with flu or whatever they like to call it nowadays. The usual routine of body ache, fever, phlegm, etc. It is manageable just not the usual efficiency in getting things done. I guess I need to slow down and get some rest.
Have a great weekend all!
