⚡Betting Against the Market? Here’s Why!

How to spot a downtrend...

October 01, 2024

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Yesterday, I did something I rarely do.

I put it all on the line in front of thousands of people (OVER 12,000 to be exact).

In my writeup of my top trade idea of the week, I said that “I am making a rare call to bet against the market right now.”

I mean, who in their right mind bets against a roaring market like this?

Well, when you’ve been trading as long as I have, you just know when you see a good trading setup… even if it is to the downside.

After enough years of trading, I have learned to get comfortable with making short-term bets against the market when it starts to trade under the 20-hour moving average (I teach about this all of the time!)

So, I placed my chips on QQQ puts, and just as the market opened and I live-streamed the trade with members, the trade moved against me.

Some doubters piled on in the chat, but I didn’t panic. I stuck to my trade plan and the trade never hit my stop.

This morning, I woke up to my own “October surprise.” The Q’s had dipped — big time — and the trade was up nearly 100% overnight!

I closed the trade for a very respectable real-money profit:

*Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically.

The market dove deeper today as traders responded to the turmoil in the Middle East before things improved somewhat into the close.

As always, I’m looking for opportunities beyond the fog of war, and right now, I think one of my favorite stocks deserves a good look.

I’ve brought this stock to my readers’ attention several times over the past few months and each time it made some very impressive moves in the days and weeks that followed. 

I think it’s especially important to get this company on your radar because, among other things, it’s taking aim at “Bird Flu” and just today, we got this headline:

I’m updating my notes right now and will have my full writeup available on this page promptly at 9am EST so be sure to bookmark that page and refresh it at that time.

If things go well, I won’t be surprised if this one makes a double-digit move tomorrow.

Nothing’s guaranteed, of course, but I’ll share my reasoning with you in the morning.

Be in touch soon!

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