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