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What You Can Do About Those Hard Market Days

What You Can Do About Those Hard Market Days

Posted On October 4, 2021 4:46 pm
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We had another hard day in the indexes.  As I write this it looks like the S&P may close down over a full point, and the Nasdaq looks like it’ll be down around 2 points.

Discover How We Are Pulling Money Out of This Market in Options360

I know a lot of retail traders are starting to get really antsy because the market has been trending down the last few weeks…

But trust me when I say there’s no reason to worry. 

As a matter of fact, there is reason to be very excited!

I can’t get too deep into it right now, because I have a lot of work to catch up on this afternoon. (I did an in-depth training session at 1 pm – so I’m running a bit behind.)

So let me just say this, we haven’t even entered corrections territory yet. (A correction is defined at a 10% drop from the previous high.)

Before we can even call the recent price action in the S&P 500 a “correction” we need to drop to somewhere between 4000-4100.  We’re nowhere near that right now…

What I am trying to say is that the price action for the last few weeks is healthy and to be expected.  

Frankly, I expected it well before September, and now that we are getting it I’m glad to see it.

This is how the market creates a new support level, then it starts the upward run from there again.   Nothing goes straight up forever.  

I can tell you that we are taking full advantage of this price action in Options360…

You can too for just $19. 

To Your Success,

Steve 

About author

Steve Smith

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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