👀 Is FastTrackTrading making a comeback?

Hi guys, it’s Kieran. Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

Looks like one of the industry’s most infamous figures is making a return to the space. Scott Trieste, founder of FastTrackTrading, who at one point in time was paying out millions per week to traders until collapsing spectacularly, is coming back with a new firm.

FastTrackTrading arrived on the scene, paying out record numbers, and then went bankrupt, leaving huge amounts of trader payouts to vanish into thin air.

Scott addressed this on Friday and it appears that traders who are owed payouts could still receive some money, as the bankruptcy attorneys are now reaching out to affected traders.

If he does make a comeback, it will be one of the stories of the year. Tread with caution...

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

🔥 Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Red Folder News

Here are this week’s red folder news events. Lots of US jobs numbers dropping this week, culminating in Non-Farm Payrolls on Friday. It was quiet in the markets last week, so lets hope for some more volatility as these numbers arrive :)

📈 The Macro View

Stuck at Neutral Sentiment…

Sentiment going from ‘Greed’ back to ‘Neutral’. Back and forth we go, stuck in this period of uncertainty. The market needs fresh impetus.

Last few days of September…

…are historically perilous. On a 20 year lookback, in the last few days of September, the S&P500 tends to run the stops from the summer, before the end of year rally begins. So far seasonality has tracked perfectly with the fakeout to new all-time-highs. If you are still holding longs, this week could be the final major test of the summer.

The great institutional Mag 7 sell-off

On Morgan Stanley’s Prime Book, institutions continued to panic sell Mag 7 stocks last week. What do they know? Or is this a perfect time to ‘buy the fear’?

Silver getting ridiculous

One final one to keep an eye on this week as Silver goes parabolic. Silver is a real world metal with real word uses, so expect real world consequences should this continue. +8% last week alone! $49.89 is Silver’s all-time high. We are currently trading at $46.70. Run the highs and reverse spectacularly maybe? Interested to see how this one plays out!

OK guys that’s everything from me, have a great week!

Kieran

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