Posted in
Daily Report
By: Tom Gentile
on May 9th, 2023
You might not get too excited to read the NASDAQ closed the day of trade up 0.2% on the day.
What if we told you this had the NASDAQ closing up 20% from its closing December 28 of 2022 low?
You might be at least encouraged by that last piece of information if you are aware of what that signifies.
If not let us tell you.
Bull or Bear Market Defined
Based on the metric/criteria used by Dow Jones Market Data a gain of 20% from a recent low signals the start of a bull market. A drop of 20% (from a recent high) signals the start of a bear market. Based off that info one can deem the markets are always in either a bull or bear market.
This information isn’t agreed upon across the board by everyone.
Feel free to read up on your own by what metrics and from who provides their data to assess bull or bear market qualifications and act accordingly.
Maybe the form you are with has their assessment of what qualifies for a bull or bear market that sets the tone for your investing and options trading activity.
Prior to today the NASDAQ was in a deemed bear market for 143-days. The only longer period of time we know about is data retrieved from cbsmarketwatch.com that said the longest bear market for the NSADAQ was 218 days. That losing streak ended in 2008.
As for the Dow and the S&P 500
The Dow Jones Industrial Average ended its bear market condition back in November of 2022.
The S&P 500 is still considered to be in a bear market from last year.
Everyone is inclined to have their own assessment and we don’t disparage anyone their opinion.
Today we are providing the Morning Report Lists to show where options traders are hanging out.
The ticker symbols in the lists show securities in both the Dow and the NASDAQ (stocks in the Dow are very likely to be included in the S&P500), but the way to distinguish those in the NASDAQ is to note the number of letters in the ticker symbol.
Any security with a ticker that has 4 or more letters is in the NASDAQ.
Isolate those from these lists and you have a starting point of stocks to research for bullish opportunities should you consider the NASDAQ now in a bull market.
App: Toms Option Tools
Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.
Other times I will have other charts may work to amplify my educational points.
Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.
Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.
Disclaimers
Stock and options trading has large potential rewards, but also large potential risk.
You must be aware of the risks and be willing to accept them in order to invest in the stock and options market. Do not trade with money you cannot afford to lose.
This is neither an offer to buy/sell/ or recommend a particular stock or option.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been actually executed, the results may have under or overcompensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with hindsight.
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
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