Choppy Waters to Close Out Summer 2022

September 2, 2022

Happy Friday!

The major indices took a breather after last weeks plunge.

It was a light week of economic data, but today's jobs report came in line with expectations.

Which the current administration pumping this as the ‘Goldilocks’ report.

It's hard not laugh how they try to spin this hogwash.

But the reality is that things are going to get worse.

And this noise causes many to be bag holders as they ride this bear market lower.

Because of the choppy action this week and the 3-day weekend, we didn't see any activity that was a screaming buy.

The CBOE Volatility Index (VIX) closed this week at 25.

That’s unchanged from last week, but indicates we will continue to see those 100 point swings in S&P 500. 

Now let’s talk shop.

Portfolio Update

Here’s a recap of what we did this week.

We sat on our hands and didn't force any trades.

Right now, we’re holding:

  • SLB Sept 16, 2022, $42/$47 call spread

Have a great 3-day weekend and enjoy a fresh spicy margarita - TGIF! 

Joshua M. Belanger

Joshua M. Belanger
Joshua Belanger is founder of CounterVest and the editor of Hot Money Trader. He has been providing ordinary investors blockbuster returns since 2008. In 2018, the average return of Hot Money Trader beat the markets by over 15%