All three major indices are ending the week higher.
We continue to claw back losses form the market reboot in March.
Layoffs continue with another 3.3 million reported this week.
That means about 33 million Americans are without work.
What's driving the market higher despite negative news is the Fed printing machine.
The fear gauge for the S&P 500, known as the CBOE Market Volatility Index (VIX) is at 28.
That is a 10 point drop from last week, but still, double the average mean at 15.
This volatility creates MONSTER opportunity!
As we saw this week closing out two winners - one being an overnight double-digit profit!
That's great.... But I’m excited about next week.
Because the bulk of earnings are behind us, this will provide a lot more opportunities without earnings risk.
There’s so much potential in the right now in the financial markets, but it’s important we stick to the plan.
We had that great profit last week and I’m looking to talk to you next week with back-to-back winning weeks!
Right now, our open positions are:
Snap Inc (NYSE: SNAP) May 15, 2020, $18.50 call
Date: April 4, 2020
Reason: Our system sure bet activity that would cause shares to soar in the next day or two.
Outcome: Exit at 72% gain!
Notes: We executed exactly as we should with taking our quick gains and taking off risk.
Zynga Inc. (NASDAQ: ZNGA) ZNGA May 15, 2020, $7.50 call
Date: April 27, 2020
Reason: Our system sure bet activity that would cause shares to soar in the following days.
Outcome: Exit for a 5% gain!
Notes: We executed exactly as we should. Share prices didn’t go in our direction at first but broke out to new YTD high ahead of earnings. It’s risky to hold an option through earnings, so we closed for a profit and preserved our capital.
As always, keep sending your questions and feedback to [email protected]
Have a great weekend and I’ll have a new trade for you on Monday morning.
To your wealth, freedom, and options!
Joshua M. Belanger