They finally shook the tree.
Stocks slid ahead of the long weekend with tech leading the decline.
Talking heads are blaming yesterday’s unemployment numbers…
But this is profit-taking; plain and simple!
On the trading floor, we’d called these pullbacks “shaking out the weak hands”.
Many have been waiting for a pullback such as this to reload.
Markets move up, they move down and there's always money to be made.
It’s about being able to ride the waves and why we trade options…
Options have staying power to ride through the ups and downs of market swings and allow us time for us to be right.
Ignore the doom and gloom from the mainstream media because Every pullback is an opportunity to ride the next wave higher!
Now… the fear gauge for the S&P 500, known as the CBOE Market Volatility Index (VIX) jumped higher on this pullback to 31.
So be prepared for a lot more dips ‘n rips in September that will create a lot of fast profit opportunities.
That’s my promise to you: to navigate you through any market easily and profitably.
On Monday, we added our newest position:
- Buy-To-Open the Energy Transfer LP Unit (NYSE: ET) Sept. 18, 2020, $6.50 call (ET200918C00006500) up to $0.20 per contract or better, for the day.
Right now, our open positions are:
- Nordic Amer Tankers (NYSE: NAT) Oct. 16, 2020, $5 call (NAT201016C00005000)
- ANGI Homeservices Inc. (NASDAQ: ANGI) Sept. 18, 2020, $15 call (ANGI200918C00015000)
- Buy-To-Open the Energy Transfer LP Unit (NYSE: ET) Sept. 18, 2020, $6.50 call (ET200918C00006500)
Now we wait and let the market come to us.
And I’ll be keeping you updated every step of the way.
I’m looking forward to answering your most pressing questions this Wednesday.
If you want yours included, send yours now to [email protected]
Markets are closed Monday in observation for Labor Day.
Have a great 3-day weekend and I’ll have a new trade for you on Tuesday.
To your wealth, freedom, and options!
Joshua M. Belanger