Apple New All-Time High and AI Bull Market Craziness!
Dear Traders,
The bull market is in full force! Apple made a new all-time high, Tesla ripped over 7% higher, and the market is very bullish as of now. Many say this is similar to the bull market of 1998, and companies such as NVDA are like Cisco or other microsystem companies of the dot-com bubble era. I argue it is not, and this bull market has more length to it. In those days, those companies were producing nothing and there was really nothing to back their valuations. Today, the AI and ChatGPT bull market is actually based on “something”. They have revenue, a product, and some fundamentals to back these crazy moves. Therefore, it is important to not stay short, and to at least have a neutral portfolio (like I do).
Today, we had some superb trading opportunities. I came a bit late and missed a 1-minute ORB on TSLA, but I did execute an excellent ABCD Pattern and 5-minute ORB. A similar trade was done (but better) by Paras at the Open. It excites me that Paras (pictured below from 5 years ago!), who joined our community about 6 years ago, has become such an amazing trader (even better than me)! And I am honored that he has chosen to trade with us! His course on Tape Reading is by far the best course in the industry, and we have received thousands of incredible reviews on his course. Make sure to check out his course here.
More importantly, Paras is presenting his Tape Reading material in an intense workshop in NYC. If you want to learn from the best yet most humble retail traders such as Paras, and open your laptop and trade next to him in NYC, then do not forget to RSVP for our NYC Live Trading Summit. It will be an exceptional networking, community-building, fun, and, most importantly, an educational trading event with many of your peers and their family members present. Paras’ workshop is:
Using Tape Reading to Improve Your Performance
Reading the tape is a skill set used by elite active traders to understand supply and demand imbalances in real time. In this workshop, Paras Jandwani will teach you the concepts behind order flow (bids, offers, and prints) and Level 2, with the goal of helping you to trade more profitably by learning how to determine the next immediate move on a stock with certainty. A considerable number of real-time examples, with tick-by-tick explanations of the tape and how to apply them in trading different strategies, will be featured.
Tonight, I am presenting a webinar on the Reversal Trading strategies that I have been using, and I hope to see many of you in the webinar room. If you are not able to join us, a recording will be available for your later viewing. My webinar begins at 8pm ET.
Last but not least, if you are searching for a very good, high-quality, fast-execution, and low-cost broker, make sure to check out Mondeum Capital, a regulated US-based broker. I have been connecting with Mondeum’s top executives for a year now, and I have also received from our traders some excellent reviews about them. They are certainly one of the best low-cost brokers out there, and you will be able to meet their CEO in person in NYC. They are also our sponsor for a NYSE floor meeting. Check out their services here.
See you in NYC!
To your success,
Andrew
