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Three weeks into lockdown I got into the market. At home one afternoon while the incipient pandemic took off, I got a phone call from a friend who told me that a friend of his had been making hundreds of dollars trading financial instruments online. With only slightly better timing, he would’ve been up thousands. Now my friend, too, was in the market, and he was also up. This was not to apply pressure, of course, he just didn’t want me to miss out. Plus my stimulus check was practically in the mail, and I’d been given no immediate indication that my job was in jeopardy. So I routed $1000 into a Fidelity free online trading account and set to daytrading myself. I would, I felt, have been foolish not to.
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To wit:
“That target was derived when I previously set out several ‘risk/reward ranges.’
‘With the markets closing just at all-time highs, we can only guess where the next market peak will be. Therefore, to gauge risk and reward ranges, we have set targets at 3500, 3750, and 4000.’
I have updated the chart below. The “black arrow was where I initially did the analysis.
With the markets currently
“knocking on the door, we will likely reach that target by year-end. Such is particularly the case with the seasonal