Self Education…
From small, we are taught by our parents to get good grades at school, get into university and then get a good job. I recall that I used to get the top 3 place in the school during my primary schooling days. As I moved into secondary school, I ended my first year No 2 in class, yay a continuation of being the smartest in class, you thought? Unfortunately, I was No 2 from the back, the second worst performing student in class. Wonder what had changed from being the best and brightest to becoming dumb and dumber. Nothing really wrong with me actually, I was just surrounded by smarter kids because I went into a prestigious school where admission is by good grades only.
I was not the smartest, so what… I breezed through high school and enjoyed my days playing pranks, skipping class and spent lots of time at arcades educating myself. Nevertheless, most of us went into university and got ourselves educated and got good jobs. Then we started to make a living, get married and have kids. Well that’s what kind of life most people will have with a formal education.
After many years, I felt a little void and started to notice why are some people more successful than others. What were they doing that I am not? I later found out that these people are continuingly educating themself after their formal education. In areas beyond their work, be it a skill they take up in baking, speaking, investing/trading or learning how to do a business. The additional self education stuff are making them richer, both as a person and financially. As I followed suit on this self education journey, I found myself grow so much and I never thought that one day I can accomplish so much.
So my friends, the one thing you need to know and understand is, “Formal education will make you a living; self-education will make you a fortune - Jim Rohn”
Self education includes learning from others, be it from a book, a show or a course. The mode you get it does not matter but what matters most is how it can help you grow to be a better person.
SPX (4136)
SPX advanced 66 points (1.6%) for the week and Mr Powell had not yet crashed the market after the Fed raised rates by another 25 bps to 4.75%. The market still rallied on Thursday and on Friday, as we thought the big misses by AMZN, AAPL, GOOGL will crash the market, it did totally the opposite. AAPL rallied most of the day, pushing the market higher and only gave way later part of the day. It also did the “Golden Crossing” on Friday!
As SPX breezed through 4100 level, it hit a brick wall at 4200 level and seems that it has lost momentum to break this resistance level. If it breaks down, we might be looking at it coming back to 3900 level. A healthy pullback is good for the market as we went up way too fast and unreal as the real market condition on the economy and corporate earnings does not look too well in the months ahead.
The next rate hike decision is only coming in March and in between lets monitor how we do on inflation. Next reporting is on 14 February next week Tuesday.
This week’s earning watchlist:-
The trading range for the week is between 4030 and 4300.
NDX (12573)
NDX opened Friday gapping down almost 300 points as the bigwigs missed their earnings. But that’s not the end of the story there. The first big movement was on AAPL, where it opened gapping down about $3 and that made it like an irresistible sale of the century and the market mopped it up chasing the whole day, with an intraday movement of +$10! Absolutely crazy 🥴
NDX recovered all the losses and went into green at some point in time but soon lost it all again and went back close to the day low. So it sucks for the bulls thinking that the market is invincible against all that is going on weakening economy, lower corporate earnings and high interest environment. We would probably bounce around right till May when the Fed finishes their job of increasing rates.
AMZN and GOOGL closed lower for the day pressing the brakes for its recent run up.
The trading range for the week is between 12000 and 13400.
TRADING OPTIONS ON HANG SENG INDEX (HSI) AND HANG SENG TECH INDEX (HSTECH)
Bad news is good news? With the recent tensions over US-China over a “baloon” HSI has plunged over 2% today. It has been 3 straight days HSI is in the red and hopefully a bigger retracement comes by for safer long opportunity. Hopefully the retracements can reach 20800 so we can place entries below 20000 safe levels. Patience…
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DISCLOSURES
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options: https://www.theocc.com/components/docs/riskstoc.pdf
MYstyework is an Online Financial Literacy Educator and materials provided is solely by MYstylework and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. MYstylework, through its contents, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. MYstylework is not in the business of transacting securities trades or an investment adviser.