Hey friend,
The weekly jobless claims data came in this morning significantly under expectations.
We also got the latest Q2 GDP estimate, which showed an even higher revised growth – 3.8%.
Tomorrow – the latest numbers on the Fed’s preferred inflation gauge.
The Daily Direction
Note: All indexes pulled back again yesterday and opened quite a bit lower this morning as well. All index directions remain upward – for now.
The Daily Nugget
Don’t confuse FOMO and conviction.
FOMO and conviction are often confused for each other.
Why?
It’s simple – both result in buying…
Meaning both can move prices upward.
But there’s a critical difference…
FOMO is fragile, while conviction is robust.
Those who buy on FOMO typically sell the instant the market looks to be turning against them…
While those who buy on conviction know to stick to their guns and only sell if and when a trade hits their pre-determined stop loss.
The market is pulling back right now.
As Head Trader Ross Givens has been saying – this is completely normal, even expected.
For traders like Ross who have been buying on conviction, there is no problem.
But for those who FOMO’ed in after the Fed rate cut…
Many of them will be running for the exits if this pullback continues…
Especially as the clickbait media keeps pumping out more and more headlines about how overvalued stocks have become.
But that actually works to our advantage…
Because the underlying trend is still solidly higher…
Meaning any pullback will expose some lucrative buying opportunities.
That’s why tomorrow, Friday morning at 11 a.m Eastern…
Ross is going LIVE to show you his proven method for following the highest-conviction traders in the market…
The corporate insiders – high-ranking executives quietly trading their own company stock.
They already know what’s coming down the pipeline for their own companies…
So when they buy in force, their conviction carries heavy weight.
That’s why Ross’ insider strategy he’ll be demoing tomorrow has delivered wins like 771% in two months, 157% in two weeks and 321% in two days.
He’ll show you the RIGHT kind of insiders you want to follow…
As well as the WRONG kind you want to avoid at all costs.
Just click here to book your seat for Ross’ live training on Friday…
And he’ll see you tomorrow morning at 11 a.m. ET.
The Traders Agency Team
