By: Tom Gentile
on October 3rd, 2022
We are NOT going to go on record and say that today is the day the markets found a bottom for 2022.
We will say it is at least a possible a spot where the sell off of 2022 may stall.
The prior days education spoke to the prospect of October seeing a bit of a recovery since there is data that shows the S&P 500 has risen 46.15% of the time in Octobers that follow a 7% or more September decline, (the S&P 500 was down over 9% this September).
The month’s result is still to play out, but if today is any indication of the data having merit, things are starting out well.
The Dow closed up 765.38-points or 2.7% higher.
The S&P 500 realized a gain of 2.6% and the Nasdaq Composite advanced 2.3% on the day.
Bullish Options Activity
For those of you who believe we are due for more bullish follow through in the coming days, one place you can start your research finding options that might be a deemed viable trade by you and your broker is our Morning Report Lists.
Log in to the tools (www.tomsoptiontools.com) and go to Options > Rankers > Morning Report
You will see both call and put option activity. If you only want to focus on the call options data go for it.
If you want to anticipate this one-day bounce is only going to last this long, and a roll over is imminent we included the put options data for you as well.
App: Toms Option Tools
Toms Option Tools scan the markets for bullish and bearish trade opportunities using our proprietary scans and strategy algorithms. TTR Darknet finds bullish entries based on triple stack channel collisions. Money Calendar identifies seasonal patterns with at least 90% accuracy looking back 10 years. Weekly Cash Clock finds short term opportunities that last a week on average. Microcurrency Trader applies Darknet technology and moving averages to cryptocurrencies. Velocity Trader utilizes volume spike and Velocity indicators on custom stock lists. Quantum Scripts scans the markets for momentum acceleration signals and employs Quantum noise filters. Optimal Trader finds directional pre-earnings opportunities that are optimized for entry date, stock movement, and volatility surge. My Trades tracks the profit/loss of your trades, displays stock charts and risk graphs, creates new trades, and edits existing trades. Morning Report provides top 10 option rankings in 6 categories each day.
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.
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