GME Short Squeeze Happening Again?
Dear Traders,
My favorite 2021 trading incident was the GME short squeeze, when retail traders on the WallStreetBets’ Reddit all came together and squeezed GME from $5 to over $120. Melvin Capital, the fund that was primarily shorting GME, was destroyed, and Robinhood and many other brokers had to halt trading.
Today, GME started running again in the pre-market, and Jarad and I traded it for a long. It was a really nice trading day for me, quick and fast, before I head to the airport.
As you know, tomorrow I will be presenting at the Orlando, Florida MoneyShow. My talk is titled: Financial Weapons of Mass Destruction: How to Use Leverage for Day Trading in Volatile Markets. I hope I will see many of you there. After that, some of us will be driving down together to Fort Lauderdale for our first ever live trading event.
I am very excited to not just connect with over 100 of our traders in person at this event, but to also trade next to them!
This Week at BBT
Tonight, for our Monday Onboarding and Technology session, Carlos and Mike will walk you through the tools needed to start your trading career and introduce you to both our philosophy of education and our suggested path to success, with the end goal being that you will be able to build your own winning TradeBook for the stock market. All members, and in particular our new members, are most welcome – and very much encouraged – to join us on Monday nights commencing at 8pm ET.
Tuesday, for our Tuesday Strategy session, Aiman will be presenting a webinar titled: Managing an Open Position. When should I enter into a trade? How much should I partial? When should I let my winner run and when should I exit all for a small profit? These questions – and more – are the types of questions you no doubt ask yourself every single time you are in a trade. Properly managing a trade is one of the most difficult aspects of trading you will face. In this webinar, Aiman will share his rules for effectively managing an open position in order to make the most of the winners while also at the same time minimizing as much as possible the losers. Aiman’s up at a special time of 5pm ET.
Happy Halloween!
To your success,
Andrew
