I have some exciting news to share with you all. I have reached the base camp of Everest. It is nothing new to me as I was here in 2015 when the earthquake first hit and stopped me from going up Mount Everest. Hopefully this time around, I can make it all the way.
In the picture above, you can see the Khumbu Icefall as well as the tents at the base camp. I will rest here for a few days before going to Camp 3 for the first rotation and further climatization.
Below is a photograph of my trading station at the base camp! Not the fanciest and most sophisticated station I have ever had, but it gets the job done. I will give you more updates tomorrow and in the days ahead as I continue to make progress.
At the time of writing this newsletter, the markets are mostly flat and everyone is waiting for the Fed’s Powell's decision on the rates. It seems that the market is pricing one last 25 basis point rate increase and then a pause.
The truth is, this fast pace of raising the rates has been detrimental to the regional banks and, in fact, many banks that borrow short term and lend long term. Take a look at the chart below that shows the valuation of US regional banks. They are now trading at less than their tangible book value. It is very similar to what happened in 2008.
Are you a buyer of KRE or other regional bank stock at these levels? I think the answer is clear. The Fed and the Secretary are only willing to save systemically important banks and not regional banks. The chart below shows how bigger banks trade at a massive premium to regional banks. Of course, owning shares in regional banks is like saying, “I know I will get wiped out!”
Today, Brian and Paras traded the Open live. Brian got a nice reversal on Starbucks and Paras traded AMD. Make sure to watch the recap here.
Also today, we have our Wednesday Psychology webinar which I urge everyone to attend. Dr. Reid will be joining us to talk about the false narratives you tell yourself as a trader as well as how to synchronize your psychology with your end goal of becoming a profitable trader. Make sure to take advantage of this free resource available to all our Elite members.
One last announcement is regarding Peak Capital Trading. As you will remember, we expanded our capacity since the feedback was so overwhelmingly positive and we now have only 2 spots left. If you are looking to take your trading to the next level, I strongly suggest you take advantage of this opportunity and sign up for this extensive 3-month bootcamp.
By the end of this bootcamp, you will know whether or not trading is for you. You will learn from some of the most disciplined individuals in the world, including John from the US Army and Mike from the US Marines. They will help you get your trading system and procedures in place. It does not get any better than this. Make sure to sign up here and be one of the last 2 individuals joining our PCT bootcamp.
Lastly, please ensure you keep me in mind and send me all your positive thoughts. This hike is the biggest challenge of my life and I need all the positive energy I can get from all of you.
Thank you all, and trade safe.
To your success,
PS: I love to stay connected with everyone on social media and each platform is of course different:
> Follow me on Instagram for the travelling trader lifestyle!
> Connect with me on LinkedIn for professional content.
> Follow me on Twitter for trade recaps and some memes!
> Subscribe to my YouTube channel for hot content from BBT team.
Andrew Aziz (Ph.D.) is a Canadian trader, investor, proprietary fund manager, official Forbes business Council member, investor, and #1 best-selling author.