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  • How the FED Crash the Stock Market | What Does A Recession Mean For Day Traders and Investors

Hey, what’s up, guys? It’s Harry here in this podcast James, I share some stories, talk about the overall market and give some tips on the current small cap market. So stick around Listen up, because you’re not gonna want to miss this one.



The Current State of the Market

James 0:13
whats going on guys, we’re back with another episode. of, the after hours Podcast. Today, it’s just Harry and I, we’re going to be kind of talking a little bit about the large cap market overall, how markets and economy are moving. And then we’ll kind of touch on small caps and kind of what we’re doing there and how, how things are shifting in that area. So I guess we can start off kind of talking about the overall markets and economy. So right now, as of like, last week, you know, the Fed raise another three quarters of a point. We got news yesterday that Mehta is going to be laying off 1000s of employees. We don’t really know the extent of how many employees but definitely, it’s upwards of over 1000. And Apple had kind of come out and said that the production in China was gonna be really slow. They’re saying that it’s because of China’s zero COVID policy, which I don’t know if that’s accurate, it could just be because of the economy and the actual, like, market in

Harry 1:09
China is pretty fucked right now.

James 1:12
Pretty crazy right now, just but they’re, I mean, they there was a lot of rumors that the zero COVID policy was kind of come to an end. And I think it kind of shocked people that they announced that it wasn’t. And I think I think right now, like the overall stock market, we’ve just been bouncing around. And I think I almost I’ve changed my my stance a lot on things recently, where I think, I think that potentially over the next couple months to years, we just might be a stock market that kind of bounces around, it’s almost like every day you wake up, right? And then bulls are like up the bull market starting again. And bears are like, Nope, this is just, this is just a, it’s a bear, it’s a rally in a bear market, and you know, it’s gonna go down. And I almost feel like, realistically, there’s nothing coming down the pipeline that’s going to change one way or another, like, I think people are slowly starting to recognise like, we are in a recession, I think that layoffs and stuff and slowing up production and pausing of hiring is, is really starting to wake people up to the fact that we are in a recession. But you know, that doesn’t mean that the market is going to continue down, either. It doesn’t mean just because we’re in a recession, or even potentially depression at the time that the market is going to continue to slide, it could just mean that we’re gonna bounce around for a long time. I mean, if you look at the past, like stock market history, like, you know, a lot of times, you know, markets bottom, during a recession and then just kind of are stagnant. You know, I mean, we could be in this period of like, 1970s, where the market really was just not returning much. But it wasn’t crashing every day, either. It just, you know, we might just be there. So, you know, I don’t know, what do you think about that, but

Uncertainty Around the Federal Reserve

Harry 2:48
I completely agree with that. To be honest, I just think there’s so much uncertainty around just literally everything, you know, like, for instance, just last week, you had you had Canada going out and only raising the interest rate by point five. Yeah. And so everyone thought, Oh, the United States is going to only rate us by point five, two, they must be in it together, they must be. You know, the United States and Canada must be kind of like teaming up, they’re gonna only raise 5.5, it’s gonna be good. So the market rallied on that. And I think a lot of people were caught off guard by just the Fed was like no point seven, five, that’s what we’re raising to, and we’ve traded a lot lower since that FOMC meeting. So yeah, I think that’s also something to kind of look at is that, you know, everyone is betting that they’re going to save the market. Everyone is betting that they’re not going to be as aggressive. Everyone’s betting and, you know, even when you it’s, it’s an interesting environment right now, because when you talk to people, I feel like, there yes, there are a lot of people who are worried. But you know, when you talk to my neighbour, like, well, I guess like my old neighbour when I used to live in my parents house, you know, she texted me the other night, and she was like, hey, what do you think about the market? I’m gonna retire soon. And I was like, Yeah, okay. Okay. And she’s like, Well, I’m just gonna retire anyway, because the market will go up again. You know, there’s a lot of people making a lot of investment decisions right now, based on the fact that oh, the market will go up again. Oh, the market will go up again. So that kind of tells me that maybe we have a little bit lower to go just because of the fact that so many people just are unfazed by this. Like, yeah, when you talk to working people who are out there, you know, not that we’re not working people but you know, like, real fucking working people.

James 4:48
Yeah, working class.

Harry 4:52
you know um them just have kept their head down and are like, Nah, like, the market will go up again. It’s fine. Don’t worry about it. Yeah, so that kind of tells me that maybe the opposite will happen. You know?

James 5:04
I think so. I think we’ve been conditioned dude, I think we’ve conditioned to think like, since 2009, like right after the financial crisis, that I think that we’re just conditioned to think that the markets always gonna get saved. I think that we always think the Feds gonna step in and save, save the world from endo kind of thing in terms of the economy. But, but this time, I feel like Jerome Powell does not want to go down in history as the only guy that lost to inflation, I don’t think he wants to go down in history as the guy that could not fix the economy and fix the market. So I think he’s going to crush everybody, because he has to, I think he unfortunately has to basically wipe out a lot of wealth that was built over the last 15 years. I mean, I’m pretty sure and don’t don’t quote me on this, but I’m pretty sure the stock market in the last, you know, 12 13 years since the crisis has averaged like an average of like, 15% returns or something ridiculous like that. And it’s like, you think about that, in terms of overall wealth and compounding, it’s huge. So I think that he realises that, that we just got way too out of control with spending, we got way too out of control with money printing and everything, and, and he’s gonna do it, you know, so anyone who’s close to retirement stuff, like, of course, I’d be a little anxious, I talked to a lot of older folk who are like, at that point where in the next five to 10 years, they were looking to either stop working or even stopped working sooner, and now they’re like, wait a second, you know, we’re so used to making this much money every year, because the markets been so hot, we’ve been in the longest, like secular bull run for free. As long as we’ve we’ve been alive at least. And now these people are gonna enter a phase where maybe it’s protection time, but when you’re close to retirement, and you want to live off your investments, that’s when it gets hard. You know, and I think people are soon going to realise that, I think, I think a lot of people who were relying on their real estate in retirement are going to come into a hard point, you know, my girlfriend, and I, actually, this weekend, in the last couple of weeks, we’re looking at condos and houses in the area. And, you know, just doing the simple math of it. Like there was a really nice con that we found. And you know, with the price of it, even putting down 20%, our mortgage would still be really big, just considering the interest. Now, I’m not complaining because I did have plenty of time to lock in a low interest rate if I wanted, just to kind of at the point where we’re looking now and it’s, it’s crazy. So you know, for those people, like my parents, for example, if they were relying on not saying they are, but if they were relying on their house sale for their retirement, because the market is slow, let’s say, you know, now trying to sell a very expensive home to new buyers, who are getting locked in at seven over 7% interest rates and your you know, I think the math is like if you buy a $700,000 home, you put down 20% Your mortgage is still gonna be like five grand or something like that, which like to an average person’s pretty, like pretty ridiculous. Yeah. So I think we’re just like I said, I think we’re gonna enter this period of just like, a lot of uncertainty, a lot of slowness, you know, and just anxiety and people and as the economy gets worse, and as people realise it, I mean, I noticed that every day, I think all time frustrations are at an all time high with people. Stress was at an all time high with people lack of savings is at an all time low credit card debt is high. Midterms are coming up, where I think that we’re going to run into a lot of political issues with either side accepting the outcome. I think, in general, that’s going to affect the economy. In fact, the market and, you know, like I said, I don’t know if that means the stock market will go down. Because I don’t think the stock market is necessarily 100% reflection of the economy. But I do think we’re just going to be bouncing around for a while.

Optimistic About the Economy

Harry 8:19
Yeah, I think so too. And maybe we’re gonna look back on this podcast and be like, Wow, you guys are really wrong. It went way lower and went way higher or whatever. I don’t really see a cause for going higher, though. I think. I think we’re pretty optimistic saying that we see a sideways chop. You know, I think that that’s the more optimistic stance right now. Rather than people saying, oh, it’s gonna go lower, it’s gonna go lower. And you have to wonder what the agenda really is, you know? Like, I mean, if you’re a Federal Reserve Chair, and you see housing prices go out of control and COVID It’s like, why didn’t you hike them? And everyone was like, Oh, well, it was COVID It was COVID. But to me, like during COVID And maybe this is just cuz I, I was working all the time. Like, there are a lot of people complaining in Canada about the lockdowns, but fuck, I left my house whenever I want. I went out whenever I fucking wanted to, you know, yes, the bars were closed for a while, but I could still pretty much function on my own. It wasn’t for me, it wasn’t that that fucking terrible at the time I saw. I saw from my perspective, people go into work. I saw people getting stimulus checks that were still working their jobs at home. I saw people spending an absolute crap tonne of money. And it was just for me, like, you know, yes, we had a pandemic, but it wasn’t the worst case scenario. You know, like, to me the worst case scenario is fuckin you know, 50% of the population just gets wiped out. You know? What I saw? You know, we had yesterday He, we did have like the economy impacted a little bit. But I saw things ramping up, I saw sales booming for all those major companies, I saw people spending a lot of money. I saw, you know, people were at home, they were online shopping, they were doing this, they’re doing that people were drinking and partying having a fun time, and they were still working and still getting paid. And so it was really hard for me to understand like, like, is that what a pandemic is going to be everyone’s just at home spending a fuckload of money, getting stimulus checks from the government, you know, so, again, they couldn’t like then they didn’t choose to. And now we’re in this position. Now, everyone’s like all deer in the headlights, it’s like, for a lot of us, we saw this coming. Like we’ve been talking about this for a while, we saw that this was fucking coming. Now it’s here, and people are still in denial. So we probably have a little bit lower to go.

How the Economy Will Be Impacted by the Looming Recession

Harry 10:56
And I think they’re just gonna keep getting aggressive and aggressive and aggressive and aggressive. And they’re just going to try and wipe everything out. Like you said,

James 11:03
to me, and this is to me, this is a fact I don’t, I don’t I know people who will probably disagree, but I think the economy will be impacted negatively, way more, not the stock market, the economy will be impacted way worse, with the looming recession, if not depression than it was during COVID. Now people initially will say, how can that be possible we were closed. The reality was spending was at a crazy all time high. During the pandemic, I spent money like crazy actually, during that time, the you know, I was, I was always drinking buying, like nice bottles. I was I bought cars, like I mean, I was spending because I was also bored, like, yeah, restaurants and bars were slower, some of them were closed, but that doesn’t mean spending stops. You know, we were all partying more if you look at like, like, we when we said like the stripper index, right, like money going crazy. Like, down in Miami, Miami, we saw how many videos of these NFT guys are like anyone just totally focused

Harry 11:54
videos did we see of people fuckin popping bottles every single night

James 11:58
and, and it was like, when you look at it back then I actually, this is why I agree with the Fed, like really being aggressive, because that just goes to show like, I think as a country, we got saved too many times, we had too much money available going out at such we had free money. I mean, you could buy a $2 million house and have a really cheap mortgage getting locked in at 2% or whatever. And with all the stimulus going on, I mean, I know people who had no business getting stimulus checks, getting stimulus checks, you know, and when I remember it, we talked about some previous podcasts when stimulus checks went out, you know, if you went to the mall, you’d see lines out the door at Louisville, a tonne of people who and not trying to judge people by like, what they look like or anything but like, you can just tell these people probably had no business spending 1000s of dollars. Yeah, we have a tonne. You know, and it was it was just, we got to a period of time, and I think in our country where, like godliness. And, you know, just overall, just overspending got crazy, I see more Tesla’s on the road than I ever have. And that’s I have a Tesla, it’s an expensive car to have and pay for it monthly. And I know people who have them that should not have them. And I think we just got ahead of ourselves as a country. So I think by Powell kind of getting aggressive and like kind of crushing the market and the economy, it’s going to have to happen because if he pivots too soon, and if he gets if he takes his foot off the gas, we’re probably going to have the same issues in two to three years, we’re probably gonna have to reevaluate in two to three years released. Now, we’re going to wipe out, we’re going to really, I think, Wait people to get aggressive, like we’re going to wait people to fuck up like people who aren’t working right now people who are saying that working an hourly job at grocery store, Dunkins or anything like that isn’t worth it. I think those people are going to wake up and realise, wait a second, I need to actually work for a living to be able to afford my life and my lifestyle. I can’t just float by and the bare minimum anymore, because that’s just not what our country is made off of off of that. It’s not what the economy is made off of. And I think long term you want the economy and America to thrive, because face it, American economy is the world economy. That’s just how it is. It’s unfortunate that other countries have to deal with how we spend and what we do and our dollar affects them. But that’s the reality. So if you long term want success in your country, and in ours, we need to fix the economy here. We need to fix the market and get people back on track to realism, you know, free money doesn’t exist. Countries have negative interest rates a point that doesn’t exist. It’s not real, you know, 10% mortgages as crappy as it sounds, you know, maybe that has to happen. So house prices come down so that average people can afford it. And maybe they’re tight for a little while, but maybe people will start stopped spending outside of their means and stop spending with arrogance because that’s what that’s what’s kind of needed right now.

Harry 14:34
Yeah, and I also think that, you know, we kind of have two things at play that we’ve never really had before.

Social Media and How It Affects People

Harry 14:43
And one thing is social media. You know, I was watching this documentary last night. And this This guy had already made like a documentary on Netflix but on 60 minutes last night they were talking about you know, they had that guy on they were talking about social media. And, you know, I’m not necessarily the biggest fan of like CNN or like Anderson, Cooper, all that type of shit. But, you know, it was interesting to watch how they were just talking about how social media affects people. And I think during the pandemic, that was at an all time high, you know, we had people who were posting old travelling pictures, some word travelling overseas, you know, you got the Louie V bags, the Gucci, everyone’s flexing, everyone’s showing off. And then that kind of creates a FOMO, I think, for the lower class, oh, I want to be a part of that, I want to be a part of that. And so you kind of have this battle of rich versus poor, trying to kind of compete against each other, you know, the rich people who are buying the nice bags, the poor people who are trying to keep up, and it kind of created that toxic mess during COVID, where you saw a lot of people who didn’t really have the money, go out and spend it on all that designer shit, you know, like, even now, still, I mean, and Rolex, like the prices are starting to come down right now. But do you remember at the height, like how hard it was to get a watch or how hard it was to get anything? You know, Richard Mills, we’re going 200 K over asking price, you had Rolexes going, you know, 50% over asking price in some things. I remember Alex went on a trip, I forget where he was, I think it was in Florida. And he sent us a picture and he’s like, boys, check this out, there was not a single fucking Rolex in that store. So what does that tell you? Like, the 1% is the 1% for a reason, it is the 1% of people. So when you have Rolex is being sold out, it means that okay, that is kind of trickled down lower, there are people who are, you know, I’m not saying middle class, people can’t afford a Rolex or can’t afford this. It’s just, I feel like, maybe during COVID, it was a good investment, but it’s not necessarily the best investment. You know, as prices are starting to come down. But to me, that’s kind of what what I was seeing was just everyone was trying to be flexing on everyone.

The Toxic Culture of the Financial Industry

Harry 17:06

And it was kind of a toxic culture. And another thing I see is that I think people who have money got really fucking pissed off at what they saw, you know, if you look at the top, like, there’s point 000 1% of America, the people who own the big corporations, the people who are working hard every day, like, if you’re a billionaire in America, you are working very fucking hard. You know, I had this conversation with another friend of mine on my deck. And we were talking and he’s also trader. And he’s like, I’d never want a bil though, because those guys work fucking hard. And I thought about it for a while. And I was like, You know what, you’re right. Like, look how hard Elon Musk works. So that top 1%. And the reality is, is that those can those people control the government, those people control, they have the money to lobby US Congress, they are very aggressive, when they want something done. And when they want something done, they go out and they fucking get it. Because they’re billionaires, they’re worth Abell and they have the money. And I think you saw a lot of those upper 1% really pissed off and COVID people go out with, you know, buying a bunch of Tesla’s or doing this or doing that everyone’s wearing a Rolex, you know, I think you had a lot of those people pissed off. And I think that’s part of why the Fed is so aggressive right now. Because I think a lot of those people came together, lobbied the United States government, and we’re like, we’re gonna fucking crash this thing. And that’s just really how I kind of feel. I know, it’s kind of like a little bit of a tinfoil hat type of conspiracy. But I think you did piss a lot of those ultra rich people off. And that’s, that’s where we’re at right now. We’re going to hike, we’re going to hike, we’re going to hike, and they’re going to fucking crush you. And they’re going to make sure that you go back to work and package your fucking food and do this and do that because that’s where I think they’re at they’re pissed. Yeah, you look at the small cap market right now. There’s not as many people trading you know, if we had 2 million people trading before we only have 50k now, so it’s like, you know, they they have successfully I think crushed a lot of those stimulus whatever people but I don’t think we’re there yet. You know?

James 19:21
Yeah, I think I think the reality is like America is a country is built off of a lot of principle of like, you come here you work really hard, you get to live the American Dream, which means you know, you get to have a house you get to have a car and eat with your family and all that and I think we just unfortunately got too far from it. And we let politics kind of put a wedge in between what’s right and what’s wrong and how we live our lives and people got way too crazy people got way too overextended, you know, the stock market. Like I said, over the last 12 13 years returned an unreal amount of money, which was a lot of fake money, I would say on paper and a lot of people you know, like as long as you’re in the casino kind of thing. You know, the money’s the money is real. But, you know, the second that things kind of come Come down, the money starts to go away, and you’re like, wait a second, like, I’ve been spending, like, I have all this extra money and now that the markets getting hobbled and I really would have been greedy, it’s gonna affect people. So I always think the best thing, and I always talk to my friends about this, but the best thing you can do is just like, you know, over, you know, it’s I think a really a better flex and having a Rolex and stuff because like, there was a period during the pandemic, where I have a friend who works works for Rolex, and he’s still a distributor, and I asked him, I was like, Could you get me something and he was like, no, he’s like, I have a list of 50 people that want a watch, and most of them shouldn’t be able to afford it. But I think they’re, they, they’re just bending over to get it because flex culture became huge. And, and I think the really sexier flex, and the cooler thing is having stability and security in your life. Having a life that you can afford, and not being stressed all the time. You know, if you make $100,000 a year, but you have $300,000 worth of lifestyle, that doesn’t make sense, in long term, you’re going to be stressed, you’re gonna be unhappy, and things are going to affect you more, you know, I’ve tried to build a life for myself, where politics don’t affect it as much. You know, whoever’s in office yet some years tax or higher, some of your checks are lower, but they always get you one way or the other. Right. So it’s just comes down to being secure and not stressing so hard about that stuff. And I think just everyone got too far. You know, the only reason you’re really stressed right now, but the market in the economy is probably because all people are overextended, they’ve spent too much money.

How to Build Wealth Long Term

James 21:24
You know, whereas reality we’re in a position as younger investors, I guess, to really build wealth long term, right? So well,

Harry 21:31
were lucky, bro, that like, I can sit here all day and complain about this, that or the other thing, I can sit here all day about spending $2 More for eggs or $4, more for milk or whatever. I mean, you’re probably a bit luckier than me, because you’re American, and I’m fucking Canadian, and things are just expensive here. But for the most part, yeah, like, when I say that you’re luckier than me, it’s just like, oh, I have to spend a couple more dollars at the grocery store. But we’re not going to be wiped out by this, you know, there will be people who are wiped out by this, you know, for the most part, I’m going to just keep cruising on by because in COVID, I literally just put my head down, and I worked. And when I lifted my head, I moved into a new place, bought some shit. And now I’m just really chilling, you know, I didn’t go too hard. And the only trip I really did go on which I should be travelling a little bit more. That’s my own fault. But just because my girlfriends and our masters like we haven’t really been able to yet. But you know, I went out to Utah, I had fun, you know, chill with 1000 bow that was super fun. And then put my head down and went back to work, you know, and you had the market was slow for a couple months. But in reality, you know, it affected my mental more than that affected my Do you know, the income coming in, you know, like, the income was slow to just off the market. But it was more mentally that I was having problems, then when you actually look at the p&l, it really wasn’t too too terrible. You know, I wasn’t losing a shit tonne of money. So I think that yeah, we’re talking like a lucky position. I do feel bad for some of the people who, like aren’t really receiving the wake up call yet. Like, I feel like the Fed is sounding the alarm. And like we’re still like, a little bit early. And once this kind of catches up over a couple of borders. You know, I’m really interested to see how this kind of plays out. You know,

James 23:35
dude, I What’s that saying? I think it’s Warren Buffett. He says like when times of economic hardship come we find out who was like swimming with their pants down or something like that. I forget that quote. But it’s like, it’s true. And I think the two people that are going to be revealed here in this coming like next years or so are going to be people who overspend people who are way over leveraged and have lived outside of their means. And then on the flip side, it’s going to be unfortunately, people who are not of economic means and aren’t doing as well financially because the reality is like during the gas is going to go up after the midterm. So I’m almost 100% positive that and when gas goes up, you know what rich people are gonna complain about it they’re gonna say, oh, it’s costing me more money to fill my Mercedes AMG, you know, G Wagen, whatever, but they’re not it’s not going to stop them from driving anywhere. Nothing’s going to stop them from taking their vacations going away during the summer and all that stuff an extra $200 A week is not going to change their lives but the people will affect other people who are way overspending and the people who don’t have the money so we’ll see I mean, again, we can we can kind of banter about this all day, but you know, it’s going to it’s going to be telling and I don’t think anything changes until we receive major news you know, and I still think this is just going to be a multi year thing and you know, as far as small caps go right now it’s like, I think they’re I think opportunities are there I actually I actually in my opinion find on the short side. I need a few more weeks to really like confirm this and myself but I think the opportunities might be better because I feel like after I lag and after Hu D will i the other day like I just think a lot of short sellers are almost scared. And I think it wiped out a lot of them. And I think that a lot of moves are actually pretty clean right now. We still lack a little bit of range. And I do hope, like we do start to get some range. Like I don’t, I’m not going to short things that are up 20% It’s just to me, it’s not worth the mental capital. But I’m gonna, you know, I do hope that we get some more and I think opportunities are maybe around the corner. I do think for you and for Long’s it’s just tough right now. Because there’s just no confident on confidence on the long side.

Dividend Cuts and Cutbacks

Harry 25:31
I mean, I, you know, I’ve been starting to pick it up a little bit. Yeah, you find it? Yeah, it’s been getting better for me. Definitely. Last week, I saw, you know, we’re starting to change in the right direction, I think. But

James 25:44
But you take those opportunities, like you take those opportunities, and then like, you know, what, if you go through a slow week, then it’s like, Alright, whatever, I hit a banger, you know, you’re not going to press, you’re not going to come into the market today, after hitting a $3 Share home run on Friday and be like, I need to make $2 $3 a share. You know, that’s just a huge Yeah, and

Harry 26:02
maybe I will fuckin make two $3 a day today. But, you know, you just have to have your expectations and track. I’m not expecting that, uh, you know, maybe I hope that kind of, you know, stuff can kind of set up for me, but you know, we’ll see it. And also, I just want to say one more thing about the large cap market, just as we’re kind of transitioning into small caps, is that also I read something the other day, like, what happens if the companies cut all the dividends? Right? They’re like, hey, economic hardship is probably coming. That’s coming. And I’ll it’ll be interesting to see how people react from that. Because there are a lot of older people that are living off those dividends who have money, who are down on the year that are like, well, at least I have the dividends and once I got bad, it’s like, oh, fuck,

James 26:50
you haven’t you have dividends? You have corporate profits in excess, right? That’s what that’s what leads to companies being able to give dividends raise dividends. And the reality is when you start to see I think, in my opinion, the last domino that is holding strong is apple. If we started to see weakness in Apple, then I think there’s going to be a huge change in like the market sentiment but you know, that’s like Warren Buffett’s biggest holding right is Apple and I think that’s because of their dividend structure and and the stability but dude, once you see a, like a little chink in the armour there, right, that’s when it’s gonna start to get to get real with a lot of companies. Yeah, I think just the daily meta, it’s fucking crazy. It’s crazy.

Harry 27:27
Meta Carvana all of them. What are what’s what’s some of the rest netflix? on SNAP, you know,

James 27:37
peloton is almost a penny stock and I know in pennant peloton is like the one of the like, as a product is something that only wealthy rich people can afford. And like, it’s a very nice product, but they’re trading at like $5 a share.

Harry 27:48
Yeah, you know, the wealth. Wealthy people were like, Fuck, I’m cutting myself. Yeah.

James 27:53
And that’s it. And now you know it. Now they’re back in the gym like that. It’s just, I mean, someday, we should do a podcast, we can talk about actual, like companies and like, what they do and like, why we disagree or agree, but, but I mean, it’s, it’s crazy, man, it really is. So, you know, just like I like you said this as we’re kind of as we’re coming up on time to wrap it up. But, you know, unless there’s something else to add, but you know, just right now, it’s just about managing expectations in small caps, day to day trading, and in large cap returns, you know, just, you know, the markets not always going to be in our favour. You know, I’m talking to a lot of guys right now, were way better than me about expectations and trades to take and, you know, situations to avoid. And it’s like, you know, just right now, like today’s Monday, November 7, or whatever it is, and I don’t even know, but it’s like, you know, Monday is really

Taking It Day-By-Day

Harry 28:36
going out and pop in a few bottles.

James 28:39
Listen, Mondays haven’t been my day for the market for a long time. I’ve noticed that from my setup, Monday’s just aren’t that great right now. So I’m pretty much off on Mondays like I’ll come I’ll show up and have an opportunity. That’s like an eight plus, or I don’t even believe in a plus anymore. And opportunity shows up. That’s worth it. I’ll take it but pretty much um, you know, I’m just taking it day by day. And that’s all we can do right now. Yeah, exactly.

Harry 28:59
And that’s what I’ve really been doing to is just, you know, I think a big thing for me as well though, has been I always wait for the hope and now. I never trade free market. Yeah, if things go up, things go down. That’s okay. Oh, man, it’s a sentiment but I never trade pre market anymore. Just because I know for you like sometimes it’s like getting a good fill, you know, open when the ship fades. But like for me, it’s just like not really worth it anymore. Rather just preserve my capital to the open shell watch. And I know like Alex doesn’t really trade like short in the pre market that often either. But like, I feel like it just really depends on the day. Sometimes you’re gonna have to fade pre market sometimes you’re gonna have short run pre market, you know, you just really have to be able to kind of size up today and I think for the open you know, that’s helped me kind of tremendously to be able to say, it helps me manage my expectations, my expectations at the open as well. Here’s a we have a ship that’s just ran Then from like two to five, you know maybe I’m not going to be as aggressive on that stock and maybe I’ll look for others you know, but there’s so many situations that I think like we’ve just been like trained and conditioned for and a big thing is just not being emotional so you can just be calm cool and collected, you know, and I think that that’s very important for me.

James 30:18
Yeah, I just spent the whole weekend actually like going over charts and stuff because you know, I had a pretty good week the first week of November for the current market environment but I need to find ways to eliminate the cuts I’m taking because like the way my my style works is like I take multiple cuts but on the way down as long as the stock has range like I’m it’s well worth it. But I want to be more in the the mentality especially during this market sentiment where like I want more confirmation rather than just like anticipating breakdowns right so so it’s just I think there’s always room to improve and I think kind of like you said it’s just you can’t be in a rush right now and you have to kind of wait for the right opportunities to come up and just not be not be so in a hurry to get get involved because you know what if you miss you miss it sucks but it’s like alright, you know, but I also don’t want we don’t want to take subpar setups and just cut away our our actual equity. So yeah, I mean, unless there’s anything else you really want to add. I think that’s pretty that’s true. Cameras,

Harry 31:15
smokin dropping everything right,

James 31:18
man. Well, I

Harry 31:19
think that’s pretty good. So thanks, everyone for for listening, and we’ll catch you for the next one.


About the Author
119 posts
James F.

James Freedlender is a driven day trader and entrepreneur hailing from Boston. Since embarking on his trading journey in 2018, James has honed his skills and specialized in trading penny stocks, with a focus on longer time frame moves. His dedication and sharp instincts have contributed to his success in the competitive financial world. In addition to his day trading accomplishments, James is a thriving business owner, running a popular barbershop and collaborating with his family in the design and renovation of homes and businesses. His entrepreneurial spirit and keen eye for detail have paved the way for continued success in his various ventures. Outside of his professional pursuits, James is an avid golfer and hiking enthusiast, always eager to explore new trails and perfect his swing. His love for travel has taken him to many corners of the world, enriching his life experiences and providing inspiration for his work. A firm believer in giving back, James is passionate about helping others achieve their financial goals and guiding them on the path to success. His wealth of knowledge, combined with his dedication to uplifting others, makes James Freedlender a respected and admired figure in both his professional and personal life.