Tesla Has Serious Competition Now
Dear Traders,
If you ask Americans what their favorite Constitutional Amendment is, you will no doubt receive different responses depending on who you ask. If you ask Norm, for example, the answer is obviously the Second, protecting the right to keep and bear arms. Should you ask Peter, if he was American, he probably most gravitates toward the First, which guarantees free speech. That is why he is the “Head of HR”, and does not allow us to talk about anything fun in the chatroom! I am sure almost nobody ever picks the Sixteenth Amendment, ratified in 1913, giving Congress the power to collect taxes. Taxes are, after all, rarely something that we celebrate. But it should not need to be stated that they are fundamental to a functional society.
President Biden went to Capitol Hill today to make one last pitch for his economic agenda. Talks yesterday failed to reach an agreement amid arguing over tax measures to raise revenue for what could be up to $2 trillion in social spending. The White House’s messaging to progressives has changed somewhat from one of big ambition to something closer to “a lesser bill is better than no bill at all”. It now seems almost certain that negotiations will blow past the end of October deadline.
Regardless of the politicking, the market ripped higher, with all indexes but the Russell 2000 moving toward all-time highs. We experienced several amazing trading opportunities today, with Lucid Motors soaring over 30%. Lucid is now ready to deliver electric vehicles, making it a major competitor to Tesla. Brian, Jarad, and I traded it on the short side and long side, and my recap can be seen here.
For Thursday Mentorship, Thor will once again be offering an exceptional mentorship session tonight at 8pm ET. I hope to see many of you there. What follows is the text of an email we received from Lee W., one of our veteran members, who attended Thor’s presentation in the Peak Capital Trading mentorship boot camp a couple of days ago:
“Hi Thor,
Just wanted to let you know that your webinar last night (10/26/2021) with PCT was one of your best. In fact, it was one of THE best I’ve seen with PCT/BBT. You’re a natural educator – clear and concise without fluff or BS. Nicely done, sir. I’m hopeful the PDF of the presentation will be uploaded to one of the sites for future reference.
Anyway, please keep up the great work. It is appreciated more than you know. BBT and PCT are very fortunate to have you as a moderator/educator.
Thanks,”
To your success,
Andrew
PS: In case you haven’t yet heard, we’ve spent much of 2021 developing a new free, web based trading simulator from scratch. It has just been released to the public and you can check it out here. Be sure you enter your email address so we may send you custom practice trades from Aiman and Simon.
