Hey, what's going on Team: It's Ricky with Tacbook Solutions Hope that you guys are all having an amazing Friday Today is November 11th and I Want to talk about what is going on right now. So why did the market sell off right at Market open? So if you look at overall QQQ this is the NASDAQ Market We started to sell off and then kind of aggressively right. We're training during that pre-market session holding above 283 and then all of a sudden the sudden pressure starts and then it follows through right at Market Open. Why? Why? Why again? I'm here to give you guys answers Sam Bankman Fried steps down as FTX CEO Acids Crypto Exchange FTX files for Chapter 11 Bankruptcy. This is what was announced today I actually shared it on my Twitter I shared it on my Instagram This was all before the market actually opened and this is what caused the original selling pressure. If you look at BTC which is Bitcoin you could see that that's selling pressure started literally right before the market opened. There's an aggressive sell-off and it really should not be recovering. That's the part that really like made me scratch my head yesterday of why is the market deciding to try to recover for crypto or Bitcoin based off of the CPI data like yeah, it's a short-lived positive Catalyst for crypto. but overall, crypto is struggling like this is not good for crypto at all. Um, I mean I if I'm not mistaken I don't know much about crypto, but if I'm not mistaken FTX and correct me if I'm wrong. Comment down below: FTX is considered the fourth or the top four crypto Exchange in the world and this is the part that also baffles me is I Just read this article that let's see if I could find it. FTX Assets Frozen by Bahama Regulators I've I've seen a lot of this where like they're freezing specific type of like crypto accounts again I don't know much about crypto but I Thought the whole point was for it to be decentralized. The whole point was only for you to have access to it. Now what's the point of crypto? If it could get just treated like money and and you know Frozen just like anything else Again, maybe I'm missing something I know I am right because I obviously don't understand what's going on I don't I Thought that was the big selling point of crypto of like oh, it's untraceable but now you can trace it and it's like oh well, they can't take it from you but now they can freeze it. um I just I Don't get it. um I don't get how that's happening when I thought that was the whole point right? I thought that was its Edge Overall: I Made a mistake today. Uh, because of that selling pressure because of the news I I Don't regret taking a position on SKT you ask you. who goes up on the NASDAQ Market sells off I entered Sqq if you tuned on into my live trading session I was entering Skq network. Not a very heavy position. Uh, but Direction was in. My favorite. News was in my favor I Thought that the market was going to sell off rightfully so. Not only are we overbought based off of yesterday's news of the CPI data, I saw there to be a lot of downside risk, but it wasn't just that right I was ready to be bullish. But when I saw that FTX news come out and that selling pressure started I was like, okay, well this is perfect, right? This is. this is a reason that you know we're going to get to pull back even quicker. So I jumped into SQ Ended up having to cut losses because there's this change of Direction I cut losses as we broke below the moving average I Just posted my loss on Discord and on Instagram that's that third link down below I Lost right under five thousand dollars on the day. if you want to, if you want to see it, make sure you follow me on Instagram and again, that's that third link down below. Uh, but that's that's the big thing that I want to share with you guys today. Uh, actually. uh. before we even get to that, uh, there is a consumer sentiment report that was released. It actually came in lower than expected which uh right now and that sent bad news is good news. This is actually good for the overall. Market Uh so this was good news and this came out 30 minutes after the market opened. If I'm not mistaken. Uh, this is when we saw this big shift and then the overall Market began to recover. Sqq began to sell off, but I was already out by then. It's overall very grateful that I was able to get out pretty quick because now it's a little bit more on the oversold side. Yes, I could enter here as it's showing signs of the support and QQQ has shown signs of resistance. but like kind of. We learned yesterday, there's no reason to fight the trend if the market is just bullish, right? We have nothing but time. We all know we all know that the Market's very overbought. It's not an if it will pull back it to when the market will pull back. Mark my words like it's going to. it always does after these uh CPI data reports. Whatever way it reacts, it stays there for a couple of days, but then it corrects itself shortly after. especially with the 20 day that it had yesterday. Um, I'm just going to be ready to short its own. Yep, I know I took off I think it was 4 900 loss on acid QQQ I'm ready to, you know, 10x that return once the market does begin to sell off, I'll be in to short the market when the opportunity presents itself. but as of right now, there's no reason to short it. There's no reason to be hopeful. when direction is. you know, not in our favor. if the market continues to indicate sign of an uptrend, I could enter uh, a long position on TQ But other than that, I'm not too worried about it. So I just wanted to update you guys on why the market was so volatile. Uh, and there was quick changes of direction right at Market open. Overall, the market is still bullish based off of the sentiment of the CPI data report yesterday. If you missed it, expectations were eight percent for inflation. they came in at 7.7 That's lower than expected. And there's news that the Federal Reserve can justify being less aggressive with raising interest rates. So instead of a 0.75 interest rate hike, they expect it to possibly be 0.5 So again, this is why the markets react in the way that it is. I Just want you to understand why. CPI Data report FTX News and the consumer Center report were the main factors that played into today's volatility. So if you have any questions, you guys know how to reach out to me. You can send me a direct message via Discord that's that first link in the description or feel free to send me a direct message via Instagram And that's that third link down below. One of the last things that I want to share with you is if there's no progression with your position, If it's not making higher highs or higher lows, then why are you still invested in? Open Position is a risky position. and the sooner that you learn that, the less mistakes that you'll make if you don't agree with that. Then again, it's only a matter of time for you to learn from your mistakes, right? So appreciate you guys time again if you guys want to be able to watch me trade live every single day, both my green days and my red days, they're all caught within the live trading session and you also get to ask me questions in real time if you want to learn more about it. We are running one of our biggest sales, especially for Veterans Day It's 150 off and it's the second link in the description. and yes, it's one time payment lifetime access. The last thing that I do want to share with you is we are giving away a free shirt with every order today over twenty dollars. We are actually giving away any free basic tea. So any tea that you see for 25 you can add it to your order that's over 25 and you get it for free. So fortune favors A Brave is one of my favorite ones, especially for Veterans Day So if you pick up a mouse pad, add this shirt, pick your size and you get it for free automatically at checkout. So yeah, that is all available at Shoptechbuds.com or that's going to be the fourth. Link in the description down below I Really do appreciate you guys time, hope and wish you guys an amazing Friday Happy Veterans Day And for everyone that has served, we appreciate your sacrifice and the service that you have you invested into this country. So really do appreciate you guys like always! I'd like to make sure that we're in the year on our green note. Thank you.