Dear Traders,
I’m grateful for an amazing day, locking in $92K day trading SPCX and $50K unrealized on options swing trades.
The markets squeezed to near all-time high yesterday but today turned risk-off mode. The main fundamental catalyst is that new FED Chair Kevin Warsh will be hosting his first ever FOMC and markets expect no rate cut and potentially a different communication style that could lead to uncertainty.
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In BBT chatroom today, many traders followed the same trade idea: short SPCX first red day.
Paras, Peter and I were all tracking this move from $215 down to $199.
We were paying attention to multiple factors for this short, including SpaceX’s market cap, the first red day technical pattern, Market Atlas $200 huge bid, and Michael Burry’s posts on X.
I made a trade recap when I was still live trading SPCX today, so you can listen to exactly what I was thinking and how I read the price during this trade.
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The Big Short Part 3? Dr. Michael Burry Tweeted Again
Last time when Michael Burry targeted PLTR and NVDA, PLTR actually fell hard from its peak. He is known for his fundamental research and his legendary mortgage crisis trade in 2008.
However, as day traders, we don’t really rely on beliefs or hype. Our real edge comes from recognizing the first red day chart pattern, and most importantly, being able to see liquidity levels on Market Atlas.
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The $200 liquidity level was so clear today on Market Atlas, giving me the conviction to hold on to my short all the way to this realistic price target.
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Join me at 8PM EST Today: “9/20” & ORB Live Masterclass
I’m hosting a live masterclass to teach 2 scalping patterns that I’ve been using frequently in the current market. All Elite BBT members can join me live and ask me questions, or watch the recording in the Education Center.
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Join Bear Bull Traders Elite with 60% OFF
If you haven’t signed up for Bear Bull Traders Elite access, we are sharing a special 60% discount only with our newsletter readers. You won’t find this offer anywhere else so make sure to use the link below.
Elite membership includes our private live trading room where you can see me trade in real-time and receive our guidance. Complete BBT education center with detailed courses and expert trading tutorials, daily live mentorship webinars and 1-on-1 psychology calls are also included in Elite.
Use code SPCX to get this 60% discount now!
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In my live masterclass this evening, I will be teaching those 2 strategies with recent trade examples and talk about how to prepare for the next few trading days. Make sure to join us live and come to chatroom tomorrow for our FOMC day.
See you in the chatroom,
Andrew
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