Topstep traders are doing an incredible job navigating these markets. We even had a trader pull more $14K out of the FX markets last week! Volatility is starting to drop, and the ability to adapt to constantly changing trading environments is a skill that’s paying off right now. The record withdrawals our traders took last month is a real testament to their determination to professionalize their trading.
Here’s What Our Coach’s Have To Say
On the earnings front, we’re in the midst of a pretty significant reporting season. The winners are really starting to pull away as the divide between essential and non-essential businesses in the face of the Covid-19 lockdown continues to widen.
Big online retailers are cleaning up, while brick and mortar retailers that depend heavily on foot traffic are taking big hits. Netflix has been the talk of the town after blowing past its first quarter growth estimates, while Disney reported a huge drop in income from its theme parks.
Stay up to date on how some of the bigger companies affect the broader markets. Certain stocks, like Amazon (of course), are very influential and hold enough weight to really move an entire index. As smaller companies start to fade, you will always see money migrate towards the industry giants.
We’re in uncharted territory right now, and while there is a lot of money flowing into the stock market, it feels kind of obvious that some pretty big brands are going to find themselves unable to recover from this shutdown. The economy is going to start slowly reopening soon, so keep an eye on how consumers react, and let’s hope the timing turns out to be good.
Everyone seems to agree that 2020 has been a train wreck so far. We need to take a serious look at how much of the economic fallout is actually factored into the market. There’s still a lot of uncertainty out there, but investor confidence does appear to be growing.
...Oh yeah, if you haven’t already, don’t forget to download the official Topstep Cocktail Booklet!