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Posted December 30, 2020

Sean Ring

By Sean Ring

Part 3: Here’s the Best Trading Platform

Welcome to Rude Awakening for Wednesday, December 30, 2020.

This week, as a wrap for the year, I’m sharing some primer videos to teach you important trading lessons, so you will be able to take the most advantage of my daily market insights and our Rude Awakening watchlists.

To recap what we’ve covered so far:

Part 1: Trading Options 101

Part 2: Learning to Trade Risk-Free

In today’s video, I go through TastyWorks, which is far and away my favorite trading platform to use, and the one I recommend to all my subscribers. It’s not because I have some comp deal or any affiliation with them — I just think they’re the best.

Now, for a quick update on today’s market action…

Stocks Rise Again This Morning: “This market continues to defy physics”

Yahoo Finance reports:

Stocks rose Wednesday morning after closing slightly below all-time highs a day earlier in one of the final sessions of 2020.

The Dow added more than 100 points, or 0.4%, just after the opening bell. The S&P 500 and Nasdaq each rose about 0.4% as well to close in on their own record levels.

The Dow, S&P 500 and Nasdaq all touched intraday record highs on Tuesday before cutting gains and turning negative. The small-cap Russell 2000 (^RUT) underperformed with a 1.9% drop, unwinding some of its outperformance against its large-cap counterparts for the month-to-date.

Tuesday’s moves lower came after prospects that consumers might receive bigger direct checks to stoke spending appeared to diminish. Though the U.S. House of Representatives passed a measure to increase stimulus checks to $2,000 to most Americans, Senate Majority Leader Mitch McConnell scuttled Democratic senators’ efforts to quickly advance the payment increase in the Senate on Tuesday. He also suggested the chamber would only consider the measure in tandem with other provisions unpopular with Democratic lawmakers.

Trading volume among U.S. equities has been relatively light during this holiday-shortened week, and trading on U.S. exchanges will close all day on Friday for New Year’s Day. With Congress’s $900 billion stimulus bill passed and few notable economic releases and no major earnings releases left on the docket for 2020, investors have attempted to look ahead for new market catalysts.

However, with the S&P 500 already tracking toward a total return of more than 17% through Tuesday’s close, some strategists have struck a more cautious tone for the very near-term heading into the new year.

“This market continues to defy physics. It’s another week and another all-time high,” Tony Zabiegala, senior wealth advisor at Strategic Wealth Partners, told Yahoo Finance on Tuesday. “But I’m really struggling to understand how we’re in a better spot today — stimulus checks or not — than we were a year ago pre-Covid, pre-lockdowns, all that.”

Although the market does continue to climb, you should take heed in what experts like Zabiegala have to say.

I have been saying this for a while: we are DUE for a retracement in this market.

The problem is, we can’t know when it will come.

Moments of slowdown in the marketplace are a good time to slow down yourself. That’s why I wanted to release this education series this week. Take some time to get educated before moving into the New Year, and you will be able to make the most of any market.

Traders can always trade, no matter if markets are up, down, or sideways. If you learn these skills, you will always be able to profit on the stock market.

Have a great trading day, folks.

We’ll talk again soon.

Regards,

Scott Stewart

Scott Stewart
Editor, Rude Awakening

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