Is This A True Bull Run Or Just A Trap?

Is This A True Bull Run Or Just A Trap?

Posted On August 15, 2022 12:17 pm

Full disclosure, I am writing this at 7:30 Monday morning.

Normally, I like to keep these as much in “real-time” as I can, so I can address any anomalous action in the market right away…

However, today I’m going to be swamped keeping track of several positions on our watch list.

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The market enjoyed the news of 0% inflation increase for July that came out last week, which means we need to keep a close eye on things…

Will the market break out into a bull run, or will we see the downward trend resume?

I have my guesses, but at the end of the day we will see. The prediction business is not one traders should partake in.

I learned early on that opinions can be disastrous to trading, so I just trade what the market gives me.

I rarely have a true opinion, the market does not care about our opinion.

That said, I ALWAYS follow the technicals.

They say that in the short-term the market is an opinion poll, but in the long term it’s a weighing machine.

That’s why fundamentals mean so little if you are holding trades for a shorter period of time.

The technicals represent the opinion of the market maker…

And that’s why I follow them.

The market is still way over valued to buy and hold… In my opinion anyway. (There’s one of the few I do have…)

Anyway, I’ll have my nose buried in the computer all day watching the Options360 portfolio and looking to see if anything on the watch list presents an opportunity for us.

This week could be an amazing week for Options360 members.

Be sure you get in on the fun and learn a new skill you can use to make money from anywhere!

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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.