Today is last trading day of January. While I am writing this the trading day has not ended yet but what a fight between the bulls and the bears. What many people do not realize is that brokerage firms almost always want January to close positively so that they can lure the investors into doing some business with them. i.e. the January effect.
The line in the sand is the 2020 year close. All morning S&P500 was trying to defend that price but failed to do so by lunch hour. I wonder if they will succeed later today?
I came across this video talking about “negative ion” products. Make sure you check it out to avoid these items because they can inflict serious harm. I am glad that I came across the video because I am a sucker at trying out novel health products …
For those of you who wonder why we experienced the GameStop fever and started to question whether stock market is functional, check this video out. Mr. Meldrum provided the most complete explanation of what happened to these fever stocks. I like to add that the selling of orderflow data by firms like Robinhood to HFT firms also add to the mess.
However, it is not something new at all. At the end, it is always those who board the train unprepared will be hurt the most. So know what kind of game you are getting into before jumping in.
Watch this video from CNBC on Chamath Palihapitiya’s take on the whole fiasco.
I am working on so many things lately it feels like I am running out of time everyday. Maybe I can slow down a bit once I resolve several technical issues with my automated trading. I will definitely write about that for my daytradingbias.com premium members because it is a very serious issue that can affect their trading.
Some readers keep asking for an update of the Big Game Hunter ES performance. I have downloaded the statements and have someone taking care of the performance summary. I will post it in the company blog later today.
I guess that’s it for the week.
Have a great weekend all!
