Zero To Hero Challenge Ep 25: Bearish Brutality

"After a certain point the pain turns to numbness and you just stop caring."

Buy the blood in the streets, even when it's your own they say. Often times it takes a contrarian trader to make the most profit since you need to time the bottom reversal and have faith it will return.

These last few weeks have been nothing short of brutal. The bears keep on taking swipes at the holders and dragging down prices everywhere. Bitcoin and the stock market can barely hold any gains and struggling to regain any momentum on a relief rally.

In one week the federal reserve will be hiking rates for the final time this year to send us off with some nice volatility by Christmas. We expect it to be only 0.5% instead of the 0.75% hikes we have been getting.

The market is still sheepish and slowly trending down in most areas. Retail traders have no more ammo or willpower to do much but suffer through it seems.

My portfolio is getting absolutely rekt the last two weeks as BBIG sheds all of its value. The price plummeted down to 51 cents after news broke of Vinco Ventures receiving a notice from the Nasdaq exchange. This was for failure to file their quarterly report by November 14th. They plan to submit their forms by the end of January 2023 in order to maintain compliance.

This was not good for my position since BBIG got absolutely demolished in the wake. Nothing to do but hold and hope for a recovery at this point, otherwise I've torched about half of my equity in 3 months and keep burning all of my cash.

One positive thing that happened was I was able to earn $1 in AVAX for free just by doing the new Robinhood learn and earn program. Next week my covered calls expire and will add another $5 to my portfolio value, plus allow me to write more calls using my shares again.

Until next week!