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DWAC: 8 Things You Need to Know About This Meme Stock Monster
What was the biggest story in the stock market this week? Tesla’s (TSLA) big earnings beat? Intel’s (INTC) giant miss? Evergrande defaulting on debt payments? inflation? The broken global supply chain? NO. The biggest story in the market was… DWAC. Yes… Digital World Acquisition (DWAC), which became the biggest meme stock on planet Earth. Here’s what you need to know:Trump + SPAC + #wallstreetbets = BOOMThe #memestock boom began in early 2021 when traders on Reddit and other social platforms started piling into a small number of story-based stocks like AMC (AMC) and GameStop (GME). Look at this long-term monthly chart of GameStop:In December 2007 before the housing crash, GameStop hit a then record high of $63.77. The video game retail business was BOOMING thanks to the emergence of Halo, Call of Duty, and Guitar Hero. (ain’t that a blast from the past? But thanks to #wallstreetbets and the meme stock boom, GameStop hit $483 in early 2021 — while the business was clearly in decline. The meme stock universe is always hungry for hot, crazy, fast-moving stocks, especially when there’s some kind of populist or antiestablishment theme. These people do not want to hear about fundamentals and market caps and enterprise value and earnings. These traders want to strap themselves to a rocket and make fast cash, especially when there’s a chance to go against the Wall Street establishment. Now let’s tie in DWAC. On Wednesday night, former President Donald Trump announced he formed a new company called Trump Media & Technology Group (TMTG) which would merge with the SPAC Digital World Acquisition Company, which trades under the ticker DWAC. And just like that, a meme stock was born. What made DWAC a meme stock? 3 things: 1) DWAC/TMTG’s business model, the centerpiece of which is a platform called “Truth Social,” was mocked. Mostly for claiming Truth Social would compete with Facebook (FB) and Netflix (NFLX). DWAC also has an unconventional leadership team, including CEO Patrick Orlando, who operates another SPAC called Yunhong International (ZGYH)… which operates out of Wuhan, China of all places. Remember, the #wallstreetbets community reflexively supports what Wall Street hates. 2) DWAC is a SPAC, which #memestock fans love because they can run so fast. 3) President Trump brought a real story and maximum emotion to the equation. Regardless of how you feel about President Trump, we can all agree on two things: he is a magnet for attention, and he still has a lot of fans that automatically like what his critics attack. This created an absolutely EXPLOSIVE meme stock situation. So let’s look at what happened.DWAC Had Perhaps the Most Shocking Stock Explosion in HistoryWe can’t reliable claim this the single biggest explosion in a stock ever, but it’s got to be pretty darn close. Let’s look at DWAC’s daily trading volume last week.DayVolume Closing Price High Low Monday 10/18 1,100 $9.97 $9.95 $9.95 Tuesday 10/19 49,900 $10.01 $10.01 $9.95 Wednesday 10/20 697,900 $9.96 $10.04 $9.95 Thursday 10/21 498,782,500 $45.50 $52.0 $12.62Friday 10/22 131,612,900 $94.20 $175.00 $67.96DWAC’s volume Monday was 1,100 shares. And on Thursday, it was 498,782,500. That means the volume increased by 453,437% in 4 days! But you want to know what’s really interesting? Check this out…There May Have Been Some Funny Business Going on…The DWAC-Trump announcement hit Wednesday after the close. Reuters covered it in a story at 10:08 p.m. that night. Yet… volume on DWAC had mysteriously picked up in the days ahead of the release. DWAC’s volume went from 1,100 Monday to 49,900 Tuesday to 697,900 Wednesday before the news came out. How does an unknown SPAC see a nearly 700-fold increase in volume from Monday to Wednesday? Did somebody know something? Yet…There Was PLENTY of Time to Get in DWACBut even with potential funny business going on, there was plenty of time to get In DWAC. The story was buzzing on social media during the premarket Thursday. Here’s a 15 minute chart showing the early action:As you can see, volume started coming in around the $10 to $12 range between 7 am and the open. By that time, the DWAC story was all over Reddit, Twitter, StockTwits, Facebook, and Discord. It was also a heavy topic of discussion in T3’s own Virtual Trading Floor® rooms, where our room moderators called out ideas in DWAC and ancillary plays like Phunware (PHUN). (we’ll get to PHUN later in this story…) So you didn’t have to be Johnny on the spot. Heck, even if you waited until after the open, you could have easily gotten in under $15… and rode it to a close of $65.50.DWAC Was Halted Multiple Times, Causing Traders TREMENDOUS StressAccording to the SEC, “a U.S. stock exchange that lists a stock is required to issue a trading “pause” in a stock if the stock price moves up or down by 10% or more in a five-minute period. And since DWAC was moving so fast, it was halted multiple times on Thursday and Friday. This was tremendously stressful for traders, who were forced to wait 15 minutes or more to see what happened next. The stock would open and you could be up or down 20% in the blink of an eye… only to see it be halted again. Bid-ask spreads were also very wide, and with the stock jumping around so quickly, it was difficult to place limit orders with any semblance of precision. Many traders just entered market orders and hoped for the best. Some Traders Won Big… Others Got Left Holding the Bag…As you can see in this 15 minute chart, the DWAC boom started in the $10-$12 range Thursday morning. It went up all day Thursday…. then continued skyrocketing overnight. Now, here’s what’s REALLY crazy. On Friday morning, DWAC opened at $118.80 and hit $131.90 almost instantly. Then it was halted for 30 minutes… and reopened at $175 on the dot, which was the high of the day. Presumably, traders expected a GameStop like move and were taking a “whatever it takes” attitude towards getting in…. or out. One trader we spoke with said “I sold about 80% of my DWAC at $157 and then started panicking because they kept halting it and I wanted out. I eventually just put in a market order and sold the rest
Continue Reading -->10 Books Every Trader Needs to Read
Whether a trader is a seasoned professional or just starting their career, they can turn to books written by experts who know the market to advance their trading knowledge. The books included in this list are stalwarts of the industry, having been resources for some of the most successful traders. They cover a wide range of topics, including technical analysis, trading psychology, futures and Forex trading, meaning any trader can find something they can learn from. Hit and Run Trading: The Short-Term Stock Trader’s Bible by Jeff Cooper Over his professional trading career, Jeff Cooper has developed dozens of proprietary strategies that help traders profit in any market. In “Hit and Run Trading,” Cooper explains how traders can use these strategies – which have helped trading pros like CNBC’s Jim Cramer — to succeed in both day and swing trades. This books is the foundation of a storied 30+ year career, and includes dozens of secrets for gaming institutions, playing gaps, and finding the best momentum names. (click here for a special deal on this classic) How to Make Money in Stocks by William J. O’Neil William J. O’Neil published the most recent edition of “How to Make Money in Stocks” after the 2008 market crash. He believes that proper market timing, trading, and interpretation of charts can have a massive impact on your profitability. Choosing the most profitable stocks and knowing when to buy and sell is crucial to making profits, and this book instructs traders on those principles. O’Neil has developed a powerful system — called CANSLIM — to minimize risk and maximize profits, even teaching traders how to earn more in a bearish market. Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude by Mark Douglas While Douglas’ book includes technical information about choosing markets to trade and determining entry triggers, most of the book focuses on how to overcome psychological barriers that prevent traders from succeeding. Douglas takes a closer look at the patterns within the market that lead to negative behaviors and mentalities for traders, proposing strategies that help traders understand the risk they are taking on and how to be more comfortable with the market. This book is a favorite of T3 Live’s Sami Abusaad. Reminiscences of a Stock Trader by Edwin Lefèvre Unlike other books on trading, ‘Reminiscences of a Stock Trader’ is a fictional story, although it’s based on the real life of famous trader Jesse Livermore. The book follows the career of Larry Livingston as he progresses from a quotation-board boy to an experienced trader. Readers can learn from the mistakes that Larry makes and watch him improve his own techniques. The Market Wizards Series of by Jack Schwager Schwager turned to legendary traders to provide advice for “The Market Wizards” series of books. He interviewed some of the most successful traders in the business to describe their experiences with trading psychology, strategy development, and profit maximization. The lessons in this book can apply to traders at any level, whether they are just starting out as interns or have been trading for years. There practically isn’t a trader alive that hasn’t devoured the Market Wizards series of books. One Up on Wall Street: How to Use What You Already Know to Make Money in the Market by Peter Lynch Most people believe that accomplished professionals have an advantage over average traders because they have more experience or work for major financial companies. But mutual fund manager Peter Lynch thinks the average investor actually has a leg up on Wall Street pros. He believes traders can use simple, everyday observations to gain an edge, and explains exactly how to do so. The Way of the Turtle by Curtis M. Faith In 1983, two professional traders, Richard Dennis and William Eckhardt, set up an experiment to determine whether or not traders were born with a special gift or if they could be taught how to trade successfully. Dennis believed he could train a group of people to be traders, just like turtles were raised on farms in Indonesia, so the group members were called “turtles.” The most successful of the group, Curtis Faith, wrote “The Way of the Turtle” to give further insight into the experiment, including everything the turtles were taught and the results they experienced from the lessons. The Intelligent Investor by Benjamin Graham Benjamin Graham is often considered to be the “father of value investing” or the “dean of Wall Street” because his ideas have been foundational to so many investors; one of his students was Warren Buffett, famous investor and one of the richest people in the world. Graham wanted to teach traders how to manage risk, increase profits and remain disciplined. “The Intelligent Investor” is key to developing smart investment strategies. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy In order to be successful, traders must understand technical analysis so they can predict market moves and know when to buy or sell. John J. Murphy’s “Technical Analysis of the Financial Markets” takes a deep dive into understanding market trends, chart patterns, intermarket relationships and trading tactics, among other things. It includes the basics of analytical methods, making the book a great resource for beginning traders or for anyone looking to advance their technical analysis skills. Trade Your Way to Financial Freedom by Van Tharp All traders want to make profits and have winning trades, but trading is just as much about reducing or avoiding losses. Van Tharp’s book focuses on helping traders manage their risk and reduce their losing trades so they can profit as much as possible. “Trade Your Way to Financial Freedom” also includes information on trading psychology, which can put traders in the mindset they need to get over their personal biases about the market and bounce back from losses. Tharp’s techniques can be applied to a variety of trading styles, including futures and Forex trading.
Continue Reading -->2020 Trader Poll Results: You LOVE Amazon
Yesterday, we held an informal, unscientific poll to measure traders’ expectations for 2020. This is what we found: 52.8% of survey respondents believe the SPX will rise more than 10% in 2020. 17.6% said it would fall more than 10%, with 29.6% saying it would finish somewhere in the middle. Then, we measured expectations for a crash. 31.7% of respondents said the SPX will fall more than 10% in a singly day. This seems awfully high, considering that this has only happened three times going back to 1929. In terms of asset classes, traders are most bullish on stocks. 55.1% said stocks would perform best in 2020. We next took a lot at sectors to see which sectors traders are most bullish and bearish on. Survey respondents were most positive on tech, with 71.1% said they were bullish on technology. Real Estate was down at the bottom, with just 15% bullishness reported. Traders’ positive view on tech is no surprise given that QQQ is up almost 40% in 2019, with the Semiconductors ETF (SMH) up 63%. And finally, we asked traders what their #1 stock of 2020 was. And the positivity towards tech continued there. AMZN was the #1 choice by a country mile, with more than double the number of votes of the second place pick, AAPL. MSFT and TSLA were in the 3rd and 4th positions, respectively. Want to participate in our next Trader Survey in January? Join our mailing list below:
Continue Reading -->50 Stock Trading Terms You Need to Know
Trading can seem daunting to anyone just starting out, and all the terminology you have to learn makes it worse. Learning some key terms can help a beginner trader start to understand the basics of trading, and prepare them for more in-depth trading education. Below is a list of 50 terms that all traders should know. This is an amazing way to start your trading education journey. This guide to trading lingo is especially helpful for T3 Live subscribers — it will prepare you to better follow our instructors and to start profiting quickly. Arbitrage Arbitrage is the practice of buying and selling an asset in two different venues simultaneously to profit off a difference in the price. There is typically no holding period because both transactions happen at the same time. Ask The ask price is the price a seller is willing to accept for their stock. An ask quote will include the price and the number of share available to be sold at that price. Bear Market A bear market is a market that has declined 20% from the highs. The phrase “bear market” sometimes also refers to an individual security or commodity that has declined by at least 20%. More on Bear Markets Bid In comparison to the ask price, the bid price is the amount a buyer is willing to pay for a stock. Blue Chip Stocks “Blue chip stocks” are big name companies that are well-established and with a large market value. The name comes from blue poker chips, which are the most valuable chips. Blue chip companies are usually valued at $10 billion or more and can be found in a major market index, like the S&P 500 or Nasdaq 100. Bull Market A bull market is the opposite of a bear market. In a bull market, stocks are 20% off the lows. More on Bull Markets Candlesticks A candlestick looks like the wax part of a candle, and marks the opening or closing price of the stock and will be either black or red (if the stock closed lower) or white or green (if the stock closed higher). The thinner parts of a candlestick on the top and bottom, which look like the wicks on a candle, mark the highest and lowest prices of the day. T3 Live Director of Education Sami Abusaad explains the candlestick chart in the Strategic Day Trader Ultimate Guide Common Stock Common stock is the type of stock that most people invest in; it represents a share of ownership in a corporation and affords the investor the right to vote on the company’s board of directors and policies. Common stock owners also have a claim on profits, although they are at the bottom of the priority ladder if the company goes bankrupt (creditors and preferred shareholders receive their shares first). Cover Covering is the closing (or reducing of a short position). When a short position is initiated, the trader is selling shares they don’t actually own. Covering is when some or all of those shares are bought back. Day Trade A trade is one where thee position is bought and sold within the span of a single trading day. Day traders capitalize on short-term market moves in order to make a profit. T3 Live’s Strategic Day Trader subscription will help you understand day trading and guide you into making the best trades. Dividend When a company makes a profit, they can distribute portions of their earnings to stockholder through dividends. Dividends may come in the form of cash, additional shares of stock, or other property. Not all stocks pay dividends. Earnings Report Each quarter, public companies publish an earnings report detailing their most recent performance. The report includes an update of the company’s profit and loss statement, assets, liabilities, equity and cash flows. Shareholders can learn more about the company’s financial health and change their investment accordingly. The value of the company’s stock will fluctuate wildly on the day the report is released. Equity There are multiple financial definitions for “equity,” although the most common refers to the amount of assets that shareholders can claim if the company liquidated or paid off their debts. This is also called stockholders’ equity. In comparison, owner’s equity refers to the money that remains when the company has repaid its creditors after liquidating its assets. In some cases, equity is simply used to refer to stocks, particularly common stocks. ETFs ETF stands for exchange-traded fund, a grouping of multiple securities that can be traded on major exchanges like a stock. ETFs are divided into shares, which give the shareholders proportional shares of the total assets, although they do not own the underlying assets (which are owned by the fund provider). ETFs are designed to track the value of an asset, although they trade at prices determined by the market. ETFs that track a stock index will pay out lump dividend payments to investors for the stocks that make up the index. Fill When an order is placed to buy or sell a stock, the fulfillment of that order is called a fill. There are multiple ways of filling an order, depending on which type it is. If a market order is placed, the investor is telling the broker to either buy or sell that stock at the best available current price. If a limit order is placed, the order will be filled once the stock reaches a specific price; if that price is not met during the predetermined period of time, the order will not be filled. A stop order, or stop-loss order, is a limit order that becomes a market order once the set price is achieved. The order will be filled at the next available market price. Forex Forex is simply a nickname for the foreign exchange market. The market includes multiple countries and exchanges currencies rather than assets. Forex is the largest exchange market in the world, with trading occurring 24 hours a day, 5 days a week.
Continue Reading -->Announcing the T3 Total Access iPhone App!
For years, people have been asking us “can I use the Virtual Trading Floor® on my iPhone?” Until now, the answer has been no. So we’re ecstatic to finally announce the T3 Total Access App for iPhone and iPad, which you can download from the App Store here. Go to the App Store ==> With T3 Total Access, you get live streaming video, audio, and chat directly to your Apple device. Whether you’re in a car, sitting in an airport, or just taking a walk, you can listen in and interact with our team. This way, you can keep up with the markets from anywhere in the world there’s an Internet connection — you are no longer tied down to your desktop computer or your office. Please note: Google Android device users can access the VTF® through the free Google Chrome app. To learn about our Virtual Trading Floor® rooms: Click for VTF info ==> Need help picking a room? Call our team at 1-888-998-3548 or click here to email us. Please note: standard data rates apply. Not all functions may be supported on all devices, particularly some Android smartphones and tablets.
Continue Reading -->Chef Scott Redler Shares His Secret Turkey Recipe
Family + friends + food + football + fitness (say that 10 times quick!) makes Thanksgiving one of my favorite holidays. And believe it or not, I’m pretty handy in the kitchen. I cook like I trade, and I trade like I cook. I keep things simple, and I go with what works. I’ve been using this turkey recipe since my parents moved to Florida 14 years ago, and it’s what I’ll be serving my family on Thursday afternoon. Ingredients List Turkey 3-4 long celery sticks 2 sticks of butter 2 oranges 3-4 lemons 2 sticks of butter 4 whole onions 3 big hunks of garlic Salt Pepper Paprika Ms. Dash seasoning 1 can of pineapples 1 jar of orange or apricot jam The quantity of ingredients depends on the size of your turkey. Just scale up or down as you see fit. We usually get a frozen 20-pounder. And oh yeah — make sure you have a quality knife! It will make your life a lot easier. I’ll take the bird out of the freezer Monday morning so it will be defrosted by Wednesday evening, when I do my prep work. You know me. Whether I’m trading, running, or cooking, I never show up for battle unprepared. If you start getting things ready before Thanksgiving, you’ll get better results with less stress on Thanksgiving… just like in trading! I’ll dice up 4 whole onions and 3 big hunks of garlic, and toss them in a large bowl. I then add salt, pepper, paprika, some Mrs. Dash seasoning, and mix it all up. Then, I’ll stuff it into the turkey. I’ll also put half a can of pineapples in there, and jam a stick of butter right in the middle of all. Then, I pour some orange juice and lemon juice over the turkey skin — just enough to get it wet. In a separate bowl, I’ll mix up more salt, pepper, and paprika for the skin. I spread it all over, making sure to get in all the nooks and crevices. Don’t be cheap! Then, I’ll wrap the turkey in a big bag and leave it in the refrigerator overnight. On Thanksgiving morning, I’ll cut a few long celery sticks in half and put them on the bottom of the pan. Then, I take the turkey out of the bag and place it on the pan. There will be a lot of juice in the bag. Transfer it to the bottom of the pan, and be careful not to spill any. It’s a real pain to clean up! Then I’ll mix up more salt, pepper, and paprika, and sprinkle it on top of the turkey. Now it’s time to stick the bird in the oven. After an hour, start basting it every 15-20 minutes. Take juices from the cavity and squeeze it on top of the turkey. Also, rotate the pan every hour or so. It should take about 4 hours to cook. Just follow what your meat thermometer says. When there is about 20 minutes to go, pour a jar of orange or apricot jam in a bowl, and add a softened stick of butter to it. Mix it together, and brush the turkey with it. Stick the turkey back in, but keep a close eye on it. We want a nice crispy skin, but we don’t want to burn it. Once the turkey’s done, take it out and let it sit for an hour before you carve it. By the way, if you’re not experienced in the art of carving up a turkey, this video will help you get it right and impress your family: Delay your carving as long as you can — turkey tastes best just when it’s cut! If you give this recipe a shot, take a picture, post it on Twitter, and tag me (@reddogT3) so I can see it! Have a great week, and an even better Thanksgiving!
Continue Reading -->74% of Surveyed Traders Bullish on NVDA in Our Latest Mystery Chart Challenge.
==> Sponsored by the T3 Live Black Room – Click to Join Our FREE Open House Yesterday, we held our second Mystery Chart Challenge, which is our version of a classic blind taste test. It’s your job to analyze the chart without the influence of knowing the ticker. Here’s the chart we showed: And as you can see in the title of this article, it’s Nvidia (NVDA): Only 2 respondents guessed it right, and a third was awfully close in guessing Advanced Micro Devices (AMD). And how do surveyed traders* feel about Nvidia, based on the blank chart alone? *this is NOT some kind of scientific sample and we can’t promise any statistical significance, so please take these numbers with a very large grain of salt Very positive, as it turns out. 73.7% said they were bullish based on the chart along. 15.8% said they were bearish. And 10.5% were in the middle! Stay tuned for our next Mystery Chart Challenge! To ensure you get notice to participate next time, sign up for our free newsletter here.
Continue Reading -->Mystery Chart #2: Are You Bullish or Bearish?
==> Sponsored by the T3 Live Black Room – Click to Join Our FREE Open House It’s been far too long since we’ve issued a mystery chart challenge! This is our version of a classic blind taste test. Here’s how it works: We’re giving you a 6-month daily chart with 10/20/50/200 day moving averages, and no name. It’s your job to analyze the chart without the influence of knowing the ticker. Last time, 179 people participated… and a lot of them were angry to find out they were bullish on the gold miners (GDX). Here’s the latest mystery chart for you to analyze: Are you bullish or bearish? Enter your vote below, and guess the ticker if you dare. Make sure you hit the submit button so we can log your entry. Tomorrow, we’ll reveal which chart this is, and post the results. Good luck! Loading…
Continue Reading -->7 Keys to Being a More Consistent and More Profitable Active Trader
Want to start earning consistent profits as a trader?Good. You’re in the right place, because we’re going to talk about some topics that get ignored all-too often in the trading world.7. Take a Loss Without Freaking OutHere’s a sign that you’re going down the wrong path as a trader: you lose a few hundred bucks, and you freak out. You slam your keyboard down, you use some foul language, and you want to quit.This is bad, bad, bad! Here’s a harsh reality that too few people in the trading industry talk about: losing is part of winning.If you can’t deal with losses, you’ll never make it.6. Hit a Home Run Without Freaking OutOn the flip side, you shouldn’t get too excited when you nail a trade that lands $6K in your bank account.Why? Because trading requires a steady hand. And you can’t let your excitement cloud your judgement.And if you’re progressing in the right way, winning will be just another day at the office! 5. Talk to Traders That Are More Experienced and More Successful Than YouEven the most elite professional athletes hire coaches in the off-season. They know the value of an expert’s point of view.Trading is no different. If you’re not getting the results you want, by definition you need help. So talk to more successful traders about your troubles. Odds are, they’ve been down the same road you have, and they can help.4. Know the Difference Between a Breakout and a FakeoutThe media wants you to believe that every tick up or down is a big deal.To succeed as a trader, you must be able to tell the difference between real moves and fake moves. And you must be able to tell that difference instantly.If you can’t look at a chart and break it down in short order, you may need additional training.3. Actually Learn a Real Trading Method99% of traders are operating at random. They use a random collection of tactics learned from books, videos, and online forums.The most successful traders are systems-oriented. They use trading methodologies where all the elements — market analysis, entries/exits, risk management. etc. — work together.This prevents you from trading on feelings and emotions.2. Put Some Real Time InYou can learn a lot about trading in a few days. But making money on a consistent basis takes time.Making money in and of itself is a skill. Only through experience can you learn what it’s like to deal with an overly volatile market, or your ego spinning out of control after a great trade.Focus on learning a process and methodology over time, and you’ll gain true control over your trading. You also need to give yourself time to succeed — there are no overnight successes in this business.1. Improve Your Batting AverageHere’s an obvious truth that too many people ignore: if you want to turn your trading account in a paycheck, you need to win more often.You need more accurate entries and exits. And you need to make more money on each trade.It’s not easy, but it is simple: win more often, lose less often, and you get more consistent returns.Do you want more consistent results?Are you ready to put some time in to take your trading to the next level?And are you ready to get mentored by expert traders that have conquered the challenges you’re facing right now?Then check out the T3 Live Ultimate Profit Solution. –> Learn about the Ultimate Profit Solution
Continue Reading -->Trader’s Digest: The 10 Stories We’re Reading Right Now
Wonder what traders are talking about today? We’re with the top 10 stories we’re sharing with colleagues today, including: Scott Redler Tracks IQ’s Major Breakout Tesla Model 3 gets Consumer Reports recommendation after braking update; shares hit session high This Trader Averaged $1,170/Day in Profit Doing Something He Loves And more! So check out these links right now and get up to speed! 1) Scott Redler Tracks IQ’s Major Breakout (T3 Live)Always watch for new names to add to your Go To List, especially hot new and recent issues that give us lots of movement. Watch the Video -> 2) U.S. first-quarter growth trimmed on weak consumer spending (Reuters)U.S. economic growth slowed slightly more than initially thought in the first quarter as consumer spending rose at its weakest pace in nearly five years, but activity is already picking up against the backdrop of a tightening labor market and tax cuts. Read the Article -> 3) Stocks Rally as Fading Italy Woes Sink Treasuries: Markets Wrap (Bloomberg)Stocks rose along with Treasury yields as investors deemed the market reaction to Italy’s political turmoil overwrought. The dollar slipped and oil rose. Read the Article 4) This Trader Averaged $1,170/Day in Profit Doing Something He Loves (T3 Live)Sami Abusaad can tell you he’s a real trader. But he’s going to let the numbers do the talking. Watch the Video -> 5) Bill Gross’ flagship fund cratered as Italy’s political turmoil rocked global markets (Business Insider)Bill Gross’ Janus Henderson Global Unconstrained Bond Fund cratered on Tuesday as the political turmoil in Italy sparked a sharp sell-off in the country’s bonds and sent investors rushing into safer debt. Read the Article -> 6) Tesla Model 3 gets Consumer Reports recommendation after braking update; shares hit session high (CNBC)Consumer Reports said Wednesday it now recommends the TeslaModel 3, reversing an earlier decision over the car’s long stopping distance and other issues. Read the Article -> 7) Is the 18-Year Cycle Giving Traders Whiplash? (T3 Live)Given the parallels with 2000, being agile with positions and opinions will pay dividends. Watch the Video -> 8)Amazon begins nationwide expansion of Whole Foods discounts for Prime members (TechCrunch)Amazon introduced 10 percent savings at Whole Foods for Prime members earlier this month, and today it kicked off a nationwide expansion of the initiative. Read the Article -> 9) Why Banks Were Looking Bearish Before the Italy Scare (T3 Live)Rob Smith points out that bearish setups were already in place for the banks BEFORE the Italy catalyst. Read the Article -> 10) Why I Don’t Read Books (Dan Lok)Entrepreneur Dan Lok has an unusual take on reading books:
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