My Email Has Been Blowing Up With This Question…

Posted On October 31, 2022 1:11 pm
By: Steve Smith

Dear Reader,

I have been receiving a barrage emails about the pullback in the market that took place today.

“I thought you said the market was going to be soaring through the end of the year? What’s happening??”

First, I wrote that there are indications that the market may be strong through the end of the year, and how I found those indicators to be very convincing.

That’s not a prediction, it’s just a statement of fact, followed by my opinion.

And while I am confident in my opinion – no one has a crystal ball.

Including me!

That’s not me playing word weasel with you – that’s me explaining how the markets really work. Everyone, even expert traders, can be wrong.

Second – and more importantly – the market is going to pullback a little after the run we’ve had over the last few weeks. That is just how these kinds of rallies work. Surge upward and as large traders take some profits off the table, the market pulls back just a bit. Think of it like when put buyers sell out of their positions, the market can see a little pop.

As I write this the Dow is up 13.9%, the S&P 500 is up 8%, and the Nasdaq is up almost 4% in the last month alone!

We are still down YTD – but we are moving in the right direction.

The market is allowed to consolidate, and often does after such a move.

This is why I have been saying that you should look for help finding profitable trades, as well as managing current positions through the end of the year.

This is a market that requires some expertise to navigate…

And I offer that expertise to my Options360 students.

Just last Friday, we closed a trade in SPY that delivered a solid 36.7% ROI in just 4 days.

There are profits to be had, and even if the market keeps shooting up like it has the last month – there will be consolidation periods.

Such is life when it comes to trading. Nothing goes straight up or straight down indefinitely.

Get the insight you need to feel confident and stay profitable… The best part, it’s just $19 for the first month!

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.