The Easiest Quarter in the Market Since COVID?

THE WEEK

Finally, not a lot of drama in the Market.  Why?  It was the last week of the 2^nd quarter; Not many earnings reports; very few economic reports issued and those were of minor importance to the Market.  And most relevant is next week is a major holiday.  The 4^th of July falls on Tuesday.  The Market closes early on Monday and is closed all day Tuesday.  Many traders are combining the holiday and their vacation.  The 2^nd Quarter of 2023 is the first quarter in over 3 years where the Market has consistently gone up.  Don’t get me wrong – I love down Markets.  I make good returns when things are falling apart.  It is just my nature to like when things are going well and the Market is gaining.  It is much easier and a lot less stressful to trade in an up Market.

I also see the trading herd generally feeling better about the Market.  The VIX is a measurement of the trading herds fear and greed factors.  When the VIX is going down generally the outlook of the Market is improving and fear is abating.  We haven’t seen the VIX this low ($13.59) since before COVID.

LOOKING AHEAD

In spite of current uptrend, I still see the Market as unsteady.  Think of a baby learning to walk.  They fall down a lot before they get the hang of walking then running.  

HOW AM I DOING?

I ended trading on Friday with a gain of 119.94% for the quarter.  I get a lot of emails from people saying that is impossible.  It is hard to convince the naysayers that what I accomplish anyone can learn to do.  It is not day trading.  I like myself too much to sit in front of a computer all day trading.  It is more picking the right tickers to trade, finding the perfect entrances and exits and finally, understanding when a bad trade happens there are ways to massage the trade back to a profitable one.

Our DEEP DIVE for Thursday’s webinar is on Swing trading

Our new Session of Quantum starts on July 13^th.