$SMMT: Earthquake in the pharma industry
Summit is cooking a new blockbuster drug. Scientists are exhilarated, outsiders are baffled and insiders a betting big.
(entirely free to read)
https://t.co/EO45RDB09i
Just shy of 1,000 followers participated in this poll w/ 95% in favor.
📢Am partnering w/ John @JPoco722 to make this happen!📢
There'll be submission rules & we'll host a 1.5 hr session dedicated to chart analysis based on submitted trades & 30 minutes Q&A.
Date, time & details coming soon!
When to Sell
The topic for my presentation next Sunday at the 2023 @traderlion Conference
Sunday, June 4 at 10:30am
Attend free, virtually.
Sneak Peek:
Stage Analysis
Stage 3: The Topping Phase
Stage 4: The Decline
Market Breadth
New Highs & New Lows
Percentage of Stocks above 200d ma
Market Cycle
Direction of the Market
The Fed Influence
Fundamentals
Earnings & Sales, QoQ & YoY
Profitability
Hosted by @RichardMoglen
https://t.co/hBCFbPB2JH
Current positions as of close today & YTD progress.
Here are some thoughts:
Been a challenging year for me after $CRDO in mid-February. There were some long-lasting effects on my execution, but main drawbacks were a heightened level of hesitation & second-guessing. Not taking setups because I was afraid to draw down more, selling things early to make back pennies, blah blah.
Finally feel back to my normal self over the past couple of weeks (market rallying helps a lot, but still have to execute).
Have simplified my process significantly, focusing on disciplined execution of my strategy & trying to forget about the results.
Market is a constant battle especially when trying to work out of a drawdown - emotions are high and decision-making takes a serious hit. Have to take each setup as if it was its own (because they are) and try not to let prior results impact your execution on future trades.
At this point in my career, just eclipsing 4 years in, I know I can make money when the environment is right. I've spent countless hours studying my edge. The next leap for me as a trader will come through my trading pyschology, not learning a new way to trade the market.
I know once I get that piece down I will be well on my way to superperformance...
With all this being said I am looking forward to the rest of the year. My goals are to take what the market gives me and focus on executing my strategy and edge when they present themselves, which is really all I can ask for.
I hope if you're struggling YTD you've found these words encouraging & helpful, as twitter often makes it seem like no one ever loses money or makes a bad trade.
Cheers and good luck the rest of 2023🍻
And another fresh update @Nakamigos
It has been quite a week with these little fellas. A lot of negativity, FUD, but overall the community has just stayed positive and rallied together trying to have fun, which this space should be about.
All projects that are big today started at nothing, we never know which project will make it and which project will fail, in the end that's all kind of a gamble.
A lot of people use the pump and dump term way to loosely in my opinion, we don't know if Nakamigos will be looked as a pump and dump in hindsight. But what we do know is that we shouldn't just put the stamp on it that easy.
To me this is just a big community of people that haven't found their place in this space. The little guys that don't have hefty bags and are trying to build something for their own. They want to try and take their place in this space, what's wrong with that? Nobody knows if they will succeed or not, but they are at least trying and bringing some fun and joy to the space.
To me I hope they succeed massively, not because of the monetary aspect, but as a way to show people that you can't just shut a project down because you are influential. To teach those people a lesson of being humble.
We should help each other out in this space, and give each other a spotlight to shine, rather than hating and putting them a dark place.
Solely for that reason I hope @Nakamigos succeeds, as a reminder to people that everyone had to start somewhere, that this space is for everyone that wants to have a go at it.
Imagine how a lot of people that went into Nakamigos feel right now, there are a lot of new people, for them this is their first community, their first project, they love it and now all of the sudden they are getting a lot of crap. Why? Because people have stamped it as a pump and dump and smh because it has done really well in a bear market a lot of people have gone after that.
That being said, once more, I have no clue what will happen. There could be a big group of whales behind it, that are doing it artificially, there is always that chance.
I just know, that I would have no clue if it was. The team could be something epic, it could also just be a team after money, again I have no clue who the team is.
I am just going with my gut feeling and to me, this feels amazing and after the FUD and hate, I even feel more aligned with Nakamigos because I always will stand up for the little guy and will defend them if I feel injustice at place.
So yesterday I did my second experiment, a tweet of how many Nakamigos were present, I did one 4 days ago as well, and based on sentiment you would have thought it would have gotten lower traction, it actually got more traction, good sign!
The volume has gone up again and we have seen another big account tweet about Nakamigos after @beeple having done 3 posts already.
This time it was @10KTFshop a really well respected project in this space. The project was started by @beeple and later acquired by @yugalabs the project behind @BoredApeYC and the owner of @cryptopunks.
So what does this mean? I have no idea. I am not a fan of big speculation and theories. I just observe and follow things.
The market seemed to like it, as we have gone from 0.5 $ETH to 0.7 $ETH and the volume has kept climbing. We are still seeing a lot of people buying a Nakamigo over floor, which means people are still buying the things they like.
Have a great day everyone 🌕😻