We saw many stocks across the board making recoveries yesterday. That even included electric vehicles, one of the most heavily shorted stock groups out there.
Small-caps, however, have lost some of their ground— and big tech is once again, large and in charge.
The QQQ has rallied over the past 5 trading sessions, whereas the IWM is down during that same period, though not by much.
Jason Bond actually believes that this year will be his best trading year ever. Register here for his State of the Market Address at 8 PM ET tonight, if you haven't already.
If you attend, you might find out how to gain first-mover advantage and uncover some of the hottest plays in the game.
In today's issue of All-Access, we'll provide some insight into how to trade the EV volatility we're seeing now, and how to manage our emotions while doing so.
Developing as a Trader
Yesterday's trading action in NIO proved that the markets can be an emotional rollercoaster, especially when you decide to take a red hot car stock for a spin.
Just when we thought the stock had found a top and was ready to freefall, it's racing back up again.
We can't control the markets and there's always going to be a certain element of unpredictability in our trading.
However, there's one thing that we can do every day to keep things under control…
It has to do with trading psychology and managing our mindset.
The skill that we're talking about is exercising mindfulness while trading.
Mindfulness means paying attention to our thoughts and emotions throughout each step of the trading process.
It can guard us against the fear of missing out (FOMO), which often causes us to buy irrationally when a rally is actually over— something that we see a lot with hot stocks.
And while it's always important to respect our stop losses, it can also prevent us from panic selling— knowing that in the case of a growth stock like NIO, there is always a strong chance of a rebound.
Listen, when you have your own money on the line, the emotions run wild. Everyone manages their emotions differently, and it's up to you to figure out ways that can help you remain calm, cool, and collected.
Dave Lukas struggled with all the trading emotions around market volatility for years—until he discovered one strategy that gave him peace of mind.
The best part about it— he finds it liberating and stress-free to not have to constantly worry excessively about the direction of the markets every time he wants to trade.
To your success,
Jeff Bishop
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