Weekly newsletter of MYstylework - Issue #83
STUBBORN HABITS ARE HARD TO KILL
STUBBORN HABITS ARE HARD TO KILL....
We all have our own habits, whether it is that sweet tooth or the procrastinate on everything possible. Don't you agree...?
When you say stubborn, most of the time it is bad habits. At least to me. Bad habits put you in ease and in your natural state. Good habits need a lot more nurturing and discipline to maintain.
Even if you have a good habit, it takes second to destroy it with just some tempting of the dark side. The opposite is when you have bad habits, it sticks and as stubborn as a mule...
So how do you maintain good habit and try to change bad habits then? It is going to be a tug of war really between both with the chance of winning most likely in the bad side. So then only way is really to have the mental discipline and will to change for a "purpose". Why do you need to take off the bad habit is your first question? Secondly, how will you benefit from it? If the benefits is strong enough and important enough, then chances are you can take care of it. To extend the duration of not getting back to bad habits...then comes the discipline... people dislike discomfort and want things easy...doing good stuff for yourself is not always easy... laying on the couch watching TV is always easier than getting on the treadmill exercising...as always...
Really there is no easy way of doing it but only to keep a schedule and regime and don't try to break it. It's true...if you do things consistently, people say 21 days, but the key is really consistently then it becomes a habit and habit are hard to break because it is called "habit"...good and bad...
When you are at it don't think too much of not doing it or delaying what you need to do. Like Nike say, "Just Do It", even if it half your regime just do it... complete the task and tell your brain you are at it and will do it... fight the dark side, there's no choice really...until the time you can say "Good Habits Sticks"
Good luck!
SPX - 3583
CPI news on Thursday came out that the inflation is not budging and only decreased from 8.3% to 8.2%. SPX dropped 2+% on opening and quickly rebounded through the day before closing up 2.6%. That's almost a 5% intraday change from lows to highs. It was absolutely a whipsaw for those who went short and the following day for those who went long as SPX closed lower on Friday down 2.4% closing at 3583 back to the 3600 support level.
SPX is again sitting on weekly 200 MA, testing it 3rd week in a row. It went down to year's low of 3491 though. If it breaks back down, the next level of support will be at around 3200 level.
This week's trading range is 3350 to 3700.
NDX - 10692
NDX was battered this week down another, 3.1% although Thursday's rally brought a glimpse of hope to the market unexpectedly, but it was short lived as it was sold down heavily just the following day. I wonder if there is somehow some AI trading that scoop up stocks when the 52 weeks low is reached.
MSFT went from low to high on Thursday by 7.7%, almost $17! Amazon by $8, 7.5%, GOOGL $5 and many others also bounced hard.
Although NDX is below the weekly 200 MA, it is still trading relatively around the 11,000 level. I don't really see a significant support level after this and the next one down is 9800 and that will mean a bear market of 41% down. We are now at around 36% down todate.
With much of what is happening it baked in, we may revolve around this area for some time. Unless there is an outlier news like deepening war, major economic crisis, and other black swans coming.
Like I said, during Traders Talk last week, there are some opportunities here for good buys for companies that you believe in the longer run. Here's my personal pick for long term plays... 😉
We expect this week's range to be at 10550 to 11500. Futures opened red on Monday.
NO TRADE IS A GOOD TRADE...
With market getting so volatile, and movements are really unexpected by the day, the week or month, we would never be able to guess anything on a longer term actually. So sometimes, no trade is a good trade. As compared to the beginning of the year, which we have open positions of over 150 trades at any one time, it has now dwindled to anything below 10 at one time. Most profitable trades are those which is in and out kind of short quick trades and those which are longer holds are really a 50-50 kind of thing.
So depending on whether you still have itchy fingers, you better get that itch off as otherwise the risk of losing money is higher if you start punching in those orders in frequency.
Patience, is also key during these markets and trade only when lows or highs are reached. For longer plays, credit spreads would be a safer bet and for shorter directional trades, just go in and out once you get some profits. Holding more than 2 days is gonna be a risk. I think you know what I am saying as there should be many instances you get you try kicking your own but (although impossible) why you didn't take the profit off the table... 😂
So for time being trade light, trade safe...let's be patient to go for the kill... trading never stops, there's always opportunities...safe your bullets.
Tik Tok Videos
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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.