On his segment tonight he mentioned a few times that on MOnday we could have a possible crash, something like black Monday of October 1987 style......this is quite a prediction ... He said it's not over
There are three main stages in a trader's development: Stage 1: Traders think they can make money by asking for advice or following others (e.g., following Jim Cramer or Kramer from Seinfeld, it really doesn’t matter, the results will be the same). Stage 2: Traders begin asking themselves how they can trade to make money and then start searching for a Holy Grail. However, what most of them don’t realise is that it is not the system that makes the money, it’s the trader who makes the money. Stage 3: The trader realises that trading success comes from focusing on the trading process (i.e., following a certain set of rules that guide their decision-making so they can flawlessly execute their edge). To do this consistently, the trader needs self-control. To have self-control, one needs self-knowledge. And to gain self-knowledge, one usually needs to do some self-work. In other words, following or listening to others only interferes with one’s focus on the trading process.
Better hope so.... I honestly do not think equities can rise underneath the weight of these tarriffs. I dont know how many more trillions in wealth have to be lost before someone intervenes and does something to offset these tarriffs. ....its amazing that 1 person can wipe out trillions of wealth world wide in only hours and not have a worry in the world. There are many ways to implement and make change to trade without implementing tarriffs and destroying an entire global world economy.
Looks like AMP Futures just equalised day trading and intra day margin for SIFs on Monday. Need $17,000 to day trade one ES Looks like everyone is scared of a crash happening on Monday I guess it depends on how many cascading margin calls happen at the same time.. the whole house of cards stock Ponzi collapses in one go.. I doubt that will happen at this stage, we not even 20% down yet in the S&P.
We could see 10k on the dow again.....but first I believe 20k is most definitely happening. A drop i believe under 16k would take it back to the time when Trump won his first term!!
I am constantly amazed that the vast majority of EliteTraders denigrate Cramer. I have CNBC on in the background all day, and find Cramer to be one of few pundits that I will unmute and listed to. I find his analysis (along with Tom Lee and Mohammed El-Erian) more thoughtful than almost all the other babbling CNBC pundits, especially when he says to sell a specific stock or sector. However, Cramer's recommendations are only good for short term trades (a day or two at the most), because he does tend to move the stock's price. You just have to know how to use his advice. I have made decent profits trading against his picks, since his listeners jump on his recommendations and tend to vastly over pay.