Morgan Stanley's Mike Wilson was wrong a lot on the way up to the Market's 2022 highs, but he's been spot on ever since.
Seeing headlines like this can really mess with a trader's psychology, since the timing is very unclear.
You know what I say to this?
Bring it!!!
Although I am a trained economist, I learned a looooong time ago that timing the market is all about technicals.
The journey to becoming an effective technician should be an enjoyable one that is filled with TONS of practice that includes looking at COUNTLESS charts.
When I first got started as a trader, I could not read enough books on the subject of technical analysis.
Then, one day, chart reading became very zen for me.
I started seeing hidden messages within the charts.
Important messages that helped me become a much better options trader.
You see, to be a successful options trader, you really have to know the market environment you are working in.
The current market is a PERFECT example of this, after the rally from last Thursday's low to Monday's high got a lot of short-term traders very excited.
Short-term bursts like this can cause impatient and ill-prepared retail traders to overreact and commit too much capital too soon.
But trained and well-read traders know how important it is to read the market's overall landscape, before jumping right in with the wrong options strategy.
Here's what I mean.
When you look at this chart of the S&P 500, what do you see as being the prevailing trend?
It's not that easy to determine, right?
But when I talk about getting "zen" with technical analysis, I am talking about removing all the noise and listening to key indicators.
With that in mind, take a look at this next chart of just the 50-day moving average and 14-day RSI momentum indicator and tell me what the prevailing near-term trend is:
If you said the prevailing trend is dead neutral, you are correct.
By removing all the price noise, I see that the sideways slope of the widely followed 50-day moving average and RSI's recent stall at its midpoint (50) are confirmation that the prevailing market trend is neutral right now.
Friends, I am sorry to say it but what we've been seeing in markets in recent months is REAL trading, and we may never see the level of government-driven market manipulation witnessed in the wake of the COVID crisis again.
The failed rallies and extended periods of rangy price action of the past several months mean that ill-prepared options buyers are going to learn some HARD lessons about the negative effects of Theta (time decay).
You know what my long-time partner, Jason Bond, has been doing while so many traders have blindly been buying straight options in hopes that the bull market is about to return?
He's been selling options!
That's right…by being a net seller of options – the probabilities of options trading turn in YOUR favor and Jason's track record over his first 50 trades with Wall Street Bookie – are all you need to understand this:
Friends, that's an incredible streak of 47 wins out of 50 trades right there, and it was all accomplished with Jason's AMAZING "Wall Street Bookie" strategy.
Jason started up this service in July of last year, before he immediately went on to hit this incredible streak.
When I saw these results I knew that Jason was onto something special.
So I immediately teamed up with him to help him manage the high demand that his Wall Street Bookie has been generating.
Friends, after Jason and I built RagingBull into what it is today, Wall Street Bookie is living up to expectations!
Now, when it comes to selling options… relax!
If you haven't learned how to sell options yet, don't feel intimidated. I can honestly tell you that understanding "spread trading" is really easy to learn.
That's because it is a simple 2-leg options strategy that involves buying one option and selling one option of the same expiration date.
The probabilities involved with using vertical credit spreads are so popular that professional traders use this strategy to help smooth out the volatility of their PnL (profit and loss) reports.
Recently, we have re-launched the "Bookie" program at an incredible 60% discounted price.
If you want to propel your trading career and learn how to put the odds in your favor as a trader, then this is the perfect service for you.
All you need to do is visit this page and unlock everything the "Bookie" program has to offer.
You'll get a daily email from Jason and I about our top option selling ideas along with our exact entities and targets.
You will also get access to exclusive training sessions where you can ask questions about any option trading strategy and learn directly from us how we are trading at any given time.
This is a perfect service for people who are looking for a slower pace of trading since these trades usually take a few days to weeks to play out.
We have already announced some new big trades this week, so get started with your exclusive invitation to join us in the "Bookie family" RIGHT NOW!
>> Click here to get started and secure your LIMITED-TIME discount <<
P.S. This is an extremely limited-time offer. If you want to contact our VIP team with any questions or discuss payment plans, give them a call @ 800-585-4488 directly and we will get you taken care of.
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