By: Steve Smith
Under normal circumstances, I don’t like to boast – but when there are so many people in financial media getting it wrong, I just want to make sure you realize that you can count on me for level-headed, data-driven information.
Monday I mentioned that I expected the markets to go higher.
Obviously, we are always on the lookout for negative indicators. Especially now that the market is running in the euphoria of retail investors.
However, until we see some negative indicators, I believe we will keep on its upwards trend.
In Monday’s email, I said I expected the market to keep heading up. Since I sent that email, the Dow has set 2 new record highs on Tuesday and Wednesday.
Of course, the market never heads straight up, so we should be looking for a pullback. However, a pullback doesn’t mean a reversal.
Pullbacks are healthy. The market consolidates and forms a new base.
From there it can resume its upward motion.
We may be seeing a correction in progress right now. As I write this email the Dow is down a little more than 100 points for the day.
There’s a lot of days left.
I don’t know if we will rebound, keep falling, or stay where we are….
What I do know is that unless I see something change in the market I’m very comfortable with the idea that we will continue with the upward trend.
Of course, that doesn’t mean that every stock will keep moving up. As I mentioned yesterday, we put on a bearish butterfly trade in Riot Blockchain yesterday.
It’s a longer-term trade, however, I expect that we might see a sell-off in the crypto markets over the next few months…
So I am looking for the trade to pay off nicely.
You can find out more about RIOT and our other trades by taking a trial subscription to Options360 for just $19.
To Your Success,
PS. I know that after the GME excitement a couple of weeks ago, our 8% Options360 overall return YTD might seem rather tepid. However, compared to the S&P return of only 3.5% YTD, it’s amazing!
And when we consider that in 2020 Options360 delivered a 43% ROI, 8% at this point in the year is very exciting. I’ve been saying that I feel like 2021 is going to be a better year for Options360 than 2020.
Come join us for just $19