+$23k in profits in 7 days
Hey everyone! The hot streak just keeps getting better and better! I’m finishing the month of November with my best day of the month +$5,932.98. It’s incredible how quickly the tide can turn in the market. The first two weeks of the month were pretty slow, and then somebody turned on the heat and we got some major action! It started with $DRYS running from $4 to $120 per share. That caused sympathy moves on $GLBS, $ESEA, $SHIP, $DCIX, and about a dozen other stocks. What drives that type of action is that traders who missed the first move on $DRYS, start to get jumpy to get a piece of the next momentum stock. The emotions that fuel these types of move are fear and greed. It’s the collective trader mentality. Thousands of traders all around the world are looking for the same opportunities so when a stock starts to pop up they all jump on it. When we’re in a market with lots of opportunities trades seem to work out better because traders get more aggressive. When the market slows down it has the same effect, traders get more cautious and trade with either small size or maybe even not at all. The result is that the market moves in waves where we see hot streaks and cold streaks. During hot streaks you have to capitalize on the opportunities so those profits can tide you over during cold streaks. I’m hoping to see continued momentum as we move into the holiday season and I’ll be in the chat room calling out my trades for everyone who wants to hear them!