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Friday Feature – Dancing with the Bulls

May 29, 2020

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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. 

Coach Em

https://tackletrading.com/events/


Emily Muiruri

Emily Muiruri

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.


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One Reply to “Friday Feature – Dancing with the Bulls”

  1. JacobAgbor says:

    Jordan frame of mind, thanks.

Comments are closed.

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