Brace yourself for more COVID-19 bear-market action, because Chris Johnson, Editor of Night Trader and Fast Profits regular, says the markets aren't done falling.
After Monday's record-setting drop in the Dow, investors everywhere are in an all-out panic.
And Chris isn't denying there's reason for concern - we're seeing a lot of volatility and uncertainty in today's economy. But if we look at the technicalities surrounding the market climate over the last year or so, we can see two things.
- This downward spiral has been a long time coming.
- We haven't hit rock-bottom just yet.
But even while stocks go haywire, you don't have to sit and wait for your money to disappear. As Chris puts it, "Luck prefers the prepared trader."
Today Chris is breaking down what's really going on in today's market. He's shedding some light on where we are now after the worst trading day since 1987, where we're going next, and how YOU can get there safely.
Here's Chris with today's trade recommendations...
How to Prepare for More Market Devastation
Today's Trade Details:
Action to Take No. 1: Enter a limit order to buy shares of SDS at no more than $37. Exit: Once your purchase order has filled, enter a limit order to sell your shares of SDS at no less than $50.
Action to take No. 2: Buy to open the SPDR S&P 500 Trust ETF (SPY) Sept. 18, 2020 $220 puts (SPY200918P00220000) using a limit price of $26.00 or less.
While we wait for the dust to settle on this week's battered market, these two profit plays can help you take full advantage of today's volatility.
And next week, we may find a few bullish opportunities lighting our path out of the current "mean" market meltdown.
One key takeaway from today's market update: Equities are in no condition for a short-term trade.
Luckily, you don't have to deal in equities in order to turn a fast profit.
Cryptocurrencies, for instance, could be your ticket to side-stepping the hyper-sentimental stock market while the coronavirus rampage continues.
Despite the volatility of the last few weeks, subscribers to Tom Gentile's Microcurrency Trader have seen profits as high as 324%.
And that's since the beginning of March, when the effects of COVID-19 were nearing full force.
It's all powered by the smallest altcoins - cryptos going for a fraction of Bitcoin's cost, with even greater profit potential.
The best part about these "microcurrencies" - they aren't tied to the same market events that drag down stocks.