This week was fun. Ramps and Fades that last longer than in weeks past. It is really important to keep your risk in check and cut losses earlier than ever. You need to be right or right out. A let's see what happens plan could be a disaster. We have had a lot of new members join and that is great as it is an awesome time to learn but I just want to stress that new traders take their time and learn instead of chasing due to FOMO. These markets will be around for a while in my opinion. Everything seems to be headline driven so I tried to focus more on the news plays. Reach out if you are thinking about getting started. [email protected]
CCL and the Saudis
On Monday, Stapes was the quickest with the news that the Saudis had taken a 8.2% passive stake in the cruise line. This ended up being a great trade for the IU members as they were able to buy dips and sell rips all the way up.
Cruise Line News
Stapes was right back to it on Tuesday with the news that Norwegian was looking to raise. Pretty steady fade after that.
Not to be out done, Trader530 with the news of Google banning the use of ZM by it's employees because of security concerns.
ICD Short Squeeze
On Thursday Nate saw the writing on the wall that shorts were in trouble. I just wanted to point out the running commentary throughout the day.
Have a great weekend all!