By: Steve Smith
Last weekend, I sent out an article in which I laid out a case for a steep market decline.
Ever since then, it looks like the bulls and bears are fighting each other for dominance.
In a market that has seen triple-digit moves in the Dow daily, we saw a 2-point move up on Tuesday and a 37-point move on Wednesday.
As I write this Thursday, we are over 200 points down.
We will see how the day ends up, but it’s possible the steep decline I predicted has already started.
And even if this isn’t it, a correction will have to come at some point. The market can’t just go up forever, no matter what Davey Day Trader says.
Corrections and consolidations are natural and healthy. Without them, the market becomes more and more fragile so that anything can cause a panic.
Kind of like a boxer who gets hit in the chin in the first round and shakes it off, but the same punch in the 12th round knocks him out.
The market needs to cool off a little.
Whatever happens in the next few days and few weeks, my Options360 subscribers can rest assured that I am watching the market closely and I am ready willing, and able to use any and all tools available to help them make money.
Just recently, we have seen trades like:
-Morgan Stanley (MS) 79% gain in16 days
-Fastly (FSLY) 42% gain in 8 day
-Visa (V) 92% in 14 days.
I want to give you the chance to try Options360 out for just $19. I can do that because, frankly, most of the people who try out the service stay.
And why wouldn’t they? It’s not unusual for them to make enough in the first 30 days to pay for their subscription fee, so canceling wouldn’t make any sense.
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To Your Success,
Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.
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