8/29 Markets Bounce, Shorts are Squeezed!
Wizzy Wiz Biz, COIN, TSLA, Short Squeeze
Index
I. Forward
II. Reflection
A. Psychology of the Post Win
III. Markets
A. Education on Elements of a Short Squeeze
B. Market Coverage
IV. Analysis and Commentary
Forward
What an insane morning!
Wiz Biz in the predictions with yesterday’s daily quoting:
I think though with everything we’re seeing, it’s more like markets continue a drive higher, at least to 448 on SPY 1.16%↑ - SPY after we clear out of the chop.
I expect this bounce to play out over the next 5 or so weeks, with the general bias being up for the majority of it. At that point in time, we would evaluate the winds and which way they blow. If company’s are facing extraordinary liquidity pressures, and if we could expect a potential pullback across markets. Until then my bias remains the markets are heading upwards. I will of course remain open and agile to new developing situations, but at least from this higher timeframe view, it seems pretty certain markets are at least slowing on selling and shifting back upwards.
Additionally, TSLA 0.00%↑ - TSLA reaped huge rewards for us going from 237 to 255, as well as COIN 0.00%↑ - COIN squeeze caught this morning entering the 85c, 9/1 at 18 cents and exiting over 3 dollars, which roughly translates to a 2000%+ gain.
It is incredible to see this come through, and humbling. I was taunted and hated for calling a bounce since Friday, but money talks.
I only hear one wiz with money talking right now, and he’s got big crystal balls. ;)
Do remember, green is green, if you ended the day positively that is great, don’t count it as profit until it is in your bank account. Regularly take profits and transfer and convert them into your bank account!
I also take serious pride in this being an affordable educational site. I am adding a veteran discount on top of adding student discounts to subscriptions.
VETERAN DISCOUNTS FOR WIZ SUBSTACK (need a vmail.vet address)
STUDENT DISCOUNTS for WIZ SUBSTACK (need an educational institution address)
If you enjoy the stack, make sure to like this post, restack, retweet, subscribe to the tribe. It goes a long way and I think 95% of those that upgrade will say they’ve seen their trading improve incredibly. But enough of the biz, let’s get down to wiz.
Reflection
I get jacked up on days like today. How do I stop myself from entering back in on trades that will likely result in me giving the market back its money?