Michael Walstedt, CFA (@michaelwalstedt) 's Twitter Profile
Michael Walstedt, CFA

@michaelwalstedt

Health before wealth | Hybrid day/swing trader mastering my craft

ID: 1314697225226850304

calendar_today09-10-2020 22:40:28

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Michael Walstedt, CFA (@michaelwalstedt) 's Twitter Profile Photo

$AIRO drone company IPO'd below 13 and went to 40 on day 1. Pulled back, held $20/21 multiple times and now consolidating higher New name, hot theme and strong price action

$AIRO drone company IPO'd below 13 and went to 40 on day 1. Pulled back, held $20/21 multiple times and now consolidating higher

New name, hot theme and strong price action
Michael Walstedt, CFA (@michaelwalstedt) 's Twitter Profile Photo

We are in a very unserious market environment. Names like $HOOD $NVDA while good companies have not downticked in 3 months. Reverse split 500%ers every single day $BMNR and names like $QS $JOBY are vertical. Plenty of warning signs $SPY $QQQ $IWM

Michael Walstedt, CFA (@michaelwalstedt) 's Twitter Profile Photo

Even with the indexes $QQQ $SPY holding up well, it's clear beneath the surface that risk appetite is changing. Crowd favorites like $CRWV $UBER $COIN $SPOT have gotten sold and more speculative names have gotten crushed $QS $UMAC $CRCL $SBET $IREN $GLXY $NNE $LMND

Michael Walstedt, CFA (@michaelwalstedt) 's Twitter Profile Photo

Great quote from Brett Steenbarger blog: "Reacting to market action is necessary for the management of risk and reward. Overreacting to market action is a function of the unmet needs we bring to trading." If we need money/validation, odds of poor decision making increase dramatically