On Wednesday, in a special webinar, Scott O’Neil joined Irusha to discuss the current correction and to drive home the importance of staying engaged with the market daily—even as it whipsaws around.

To better understand how unpredictable the action can be when a market is moving out of correction, Scott looked back historically to corrections in 1996 and 1997 and their subsequent follow-through days. By looking at the daily action of corrections similar to the one we’re experiencing now, it’s clear to see how closely you have to observe the action to get back into the market right at the turn—that when you have the potential to make the most money (as we like to say MarketSmiths love a correction).

But getting back in is delicate work. You never want to run out on a battlefield just because you think the danger has come to an end; you need to look around first be make sure it is safe. This is where a pilot position comes into play. These are small positions that keep you engaged and help you develop a feel for when the market is truly turning direction. As Scott reminded us: most money is made in the beginning of an uptrend.  But to make that money, you need to have a strong connection to the market and a fresh watch list to act on.  

To view to the entire Master the Market Webinar with Scott and Irusha, click here.

And if you need to refresh your watchlist, call a product coach for help setting up a custom screen in our new streamlined screening tool. We’re available Monday through Friday at 1(800) 424-9033 or by email at reachus@marketsmith.com. 

Best Returns,

The MarketSmith Team