Trading Stocks? It’s Going To Be Okay.

Trading Stocks? It’s Going To Be Okay.

The Stock Market

The market internals recorded massive negative numbers yesterday.

The #SPY, #QQQ and the #DIA each closed near the high of the day. And for the third consecutive day, the #SPY did so on above average volume.

Throw into the mix the next FOMC decision on interest rates is considered a “coin flip” because of the implosion unfolding in the financial sector. The Credit Suisse situation now states they had “material weakness” in its financial reporting process from prior years.

I don’t know about you but that is incredulous. Banks, the bastion of “safe” with poor accounting. And or highly concentrated investments (SVB) that if wrong, would spell doom for customer deposits.

The time for higher FDIC insurance is here, and a restructuring of reserve requirements is long overdue. I understand a hedge fund making a speculative bet and losing, but banks with bad accounting?

So what does that mean for us as traders?

Well, chaos for sure. Seemingly impossible price action that sucks the money directly out of your trading account.

Now you have a choice. You can throw a pity party. Or you can level up. 

You can choose to complain. Or you can choose to do something special. You can dig deeper and find something inside of you that you didn’t know was there.

I have always chosen the second path. And choosing to challenge and defeat adversity has made life, and trading a magical journey. 

Contrary to popular belief, success is a choice. It’s not luck. It’s who you are, what you think and the actions that you take. We all get the same price action. Some will choose the right stocks and get paid. Some will be lazy, unfocused and unprepared and struggle.

Which person will you choose to be?

 Adversity is what defines us. What will it say about you this year? A bunch of people will be massively successful this year because they chose to improve rather than melt.

Will you be one of them? I have one super power, and it’s persistence. I guess you can say I have a secret identity. It’s the one thing that can never be taken away from you. And the one thing you can always rely upon.

And when you exercise it, especially in the toughest of times, you build an unstoppable belief that anything is possible.

Pete Renzulli

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