This Is Why We Covered All Our Shorts And Sold Our Puts Last Friday On The Lows And Then Went Long
As you saw in the video, the 1929-'32 bear market contained six legs down, with each followed by a rally to lower highs. When we stopped making lower highs, the bottom was finally in. And in the current downtrend, we've got another couple of lower highs to put in before the markets find their bottom.
So, why have we gone from a put-based portfolio to one chock-full of calls? You guessed it -- we're going into a rally phase. In fact, based on the NYSE's chart, we could have a 88% chance of making a 50% retracement. In other words, we won't reach the highs of two years ago, but we could get halfway there before the next upturn, well, turns around. (Review Of The Last $NYA Update)
I don't know about you, but I get way more upset if I miss a rally than if a stock goes down. Everyone buys stocks and sees them stumble -- strange as it seems, we can almost get accustomed to that. But we're also accustomed to making money during bull markets and rallies, and we're not willing to miss out on making some fast cash during a quick upswing. So, if you haven't gotten into our bullish positions already, there's no time like the present to initiate your positions!
Here Is The Latest Video On The "Call"
