Friday Feature – Dancing with the Bulls
May 29, 2020
Hey Tackle Traders,
Ok, I may be a little than the rest of the world but, I finally caught up to Michael Jordan’s mini-series The Last Dance. Out of the countless hours spent watching TV during this Rona stay at home order, by far watching this series was the best 10 plus hours spent sitting on my couch. First and foremost it reiterated the fact that 90’s basketball was the best era there ever was in my opinion. Secondly, the series allowed us to travel inside Jordan’s mindset to see how he viewed the game.
One cannot deny the love, passion, and desire he had every time he stepped foot on the court. Whether it was practice, a pickup game, or a regular game, Michael Jordan gave it his all. He studied the game, he studied his opponents and he left no stone unturned. I mean seriously, during one offseason while he was filming Space Jam, he’d film all day then practice for hours with teammates and players from other teams. Those guys thought it was a friendly game but he was studying their every move in preparation for the basketball season. Oh, those poor unsuspecting souls looked at it as an opportunity to play with one of the greatest to ever play the game meanwhile he was mastering their every move. Good as he was he also expected the same from his teammates and he didn’t shy from letting them know when they didn’t bring their A-game. Jordan also took some time off playing after a devastating life event but eventually came back to do what he loved doing the most, play to win!
I look at trading and see so many similarities to how Jordan approached the game. It starts with a love and desire to want to trade. Then you progress to learn and practice the art of trading. Studying trends, patterns, and levels so you can execute your trading game plan every time you log in to your account to trade. Getting to know your opponents, really you, or the space between your ears that tells you something different other than what you are seeing on the chart. Trading also involves pulling others along as you are mastering your craft and holding each other accountable in your journey. Sometimes circumstances in life might cause you to walk away from trading and take a break and that’s okay. In case you didn’t know, going fishing is allowed as a trader.
Having won 3 championship titles in 91, 92, 93 the Bulls returned to win 3 more in 96,97,98 famously known as the repeat three-peat. This current market recovery which was led primarily by the stay at home stocks has kept the moving on an uptrend. Shockingly we saw a continuation of this uptrend even as company earnings reports, forward guidance, and economic reports were abysmal. This week we saw a shift in sector rotation as investors flocked to the struggling sectors such as airlines, financials as states began to allow businesses to open back up. This week we also saw the S&P break above the 200 EMA. Just as the bulls geared up for round two of going for another 3, I wonder if the market is gearing for another round of a bull run as a result of want has transpired this week. Only time will tell whether we’ve seen the last of the bear market so until then, I reluctantly dance with the bulls.
Emily Muiruri was born and raised in Nairobi, Kenya before her family moved to the US and settled in Maryland, Emily began her trading journey in January 2015 after 17 years of Property Management in the Self-Storage Industry. Like many new traders, Emily started off with directional trading strategies such as long calls, long puts and very little in cash flow strategies. Over time that has changed and now her core trading strategies are cash flow based such as are Covered Calls, Naked Puts, and Iron Condors. Though she is still a student learning and enhancing her trading skills, she has a strong desire to teach women to take control of their finances and become traders. Writing blogs is one of the ways she’s is looking to spread the word and get more women involved. Emily knows that with the right education and trading system women can be successful traders.
Financial freedom is a journey
The Tackle Today series is brought to you by Tackle Trading.
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
# Sign up now for a 15-DAY FREE TRIAL #
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
One Reply to “Friday Feature – Dancing with the Bulls”
Jordan frame of mind, thanks.
Comments are closed.