Stock Rallies Continue To Be Sold

April 8, 2022

Dear Trader,

Happy Friday!

Last week’s relief rally continued to see sellers whack it back down.

The major averages closed near this weeks lows as volatility continues to stay elevated.

But market volatile markets create a lot of fast profit opportunities

And we cashed out a 190% profit in Occidental Petroleum Corp. (OXY)!

In bear markets, it’s important to stay focused because we can make money.

Let’s talk about the CBOE Volatility Index (VIX), aka the “fear” index, which closed at 21.

That’s a 2 point increase from last week's reading and that means we’re in a bear market regime, so expect to see rallies like today to be sold.

Now let’s talk shop.

Portfolio Update

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

On Monday:

OXY April 08, 2022, $59/65 call spread

On Tuesday:

No action.

On Wednesday:

No action

On Thursday:

No action.

On Friday:

No action.

Right now, we’re holding:

  • MLCO Apr. 14, 2022, $15 call
  • CCJ April. 14, 2022, $23/30 call spread

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

To your wealth, freedom, and options!

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%