Labor Market Data
Powell Speaks Monday Morning
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Last week: MSTR +170%, IWM 9/27 -100%
2nd Challenge Account: 3k to $3.1k (down from 5.7k portfolio high)
(first one was $6k to $270k in less than a year)
170% gain trade to get this account back to breakeven after a rough couple months of swing trades. Maybe it is time to do some active day trading in this new account.
Relevant Topics, News, and Data: Month of September (Quarter End Sept. 30th)
China Holiday week and only open Monday
China stimulus has started, will it continue?
Global money supply trending higher
Blackrock tightens their rules with Coinbase BTC custody to 12h verification
Possible more BTC banking custody approval soon (BNY Mellon first approved last week)
JPM Collar Trade roll 9/30 EOQ
CZ (Binance former CEO) gets out of jail on Monday
Monday morning Powell speaks
IWM had some significant put selling at Friday’s close ahead of Powell speaking Monday morning on economic outlook. Do we see some window washing by funds to show they own what will run in Q4? I repeat, IWM has had it’s longest drawdown since the GFC mainly caused by high rates and higher costs to borrow for highly indebted small cap companies. Either way, these companies will be purchased and pushed higher not based on fundamental, but what the Fed and Yellen are doing monetarily and fiscally.
Another week coming up hot, let’s get after it!