(CPI UPDATE) THIS CAUSED THE MARKET TO RISE...

TL;DR

The stock market is rising due to midterm elections, but volatility is expected. The upcoming CPI data report will further impact the market.

Transcript

so why is the stock market Rising what's going on team it's Ricky with techman Solutions going to start sharing my screen with you guys the overall NASDAQ market closed 1.1 in the green the triple leverage ETF tqq closed 3.18 in the green I reduced my position size I sold everything except for my one lucky share I'm up 11 222 on the day and again I... Read More

Key Insights

• 😚 The stock market is currently rising, with the NASDAQ closing 1.1% higher.
• ❓ Volatility is expected due to ongoing midterm elections.
• 🧘 Traders should be prepared for worst-case scenarios and reduce position sizes.
• ❓ The upcoming CPI data report on November 10th will significantly impact the market.
• 🏣 The direction of the market post-report depends on the inflation figure.
• 🤞 The speaker advises against investing with one's entire account size and relying on hope.
• 🧘 Position size is crucial for managing risk and avoiding potential losses.

Questions & Answers

Q: Why did the speaker reduce his position size?

The speaker reduces his position size to mitigate risk and account for uncertain market conditions. He emphasizes that his trades are not investment plays but rather day trades.

Q: How can one prepare for market volatility?

The speaker suggests reducing position sizes and being prepared for the worst-case scenario. He advises against investing with your entire account size and relying on hope, as the market can quickly change direction.

Q: How will the market react to the upcoming CPI data report?

The market's reaction to the CPI data report will depend on the inflation figure. If inflation is higher than expected, the market may drop. Conversely, if inflation is lower than expected, the market may rally.

Q: What does the speaker emphasize regarding position size?

Position size is crucial, especially during midterm elections and the upcoming CPI data report. The speaker believes that position size is everything and encourages traders to avoid complaints or blaming the market.

Summary & Key Takeaways

• The overall NASDAQ market closed 1.1% higher, and the triple leverage ETF TQQ closed 3.18% higher. The speaker reduced his position size but made a profit of $11,222.

• The market is reacting to midterm elections, leading to volatility. The speaker advises being prepared for the worst-case scenario and reducing position sizes.

• The upcoming CPI data report on November 10th will determine market direction based on inflation. Hotter-than-expected inflation may cause a market drop, while lower-than-expected inflation may lead to a rally.