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Though we've seein some upward movement in the market this week, we're likely tapped out on bullish activity for the time being. Just look at today's market, with the S&P 500 down as many as 94 points so far.
Chris Johnson, Editor of Night Trader and regular here at Fast Profits with Money Morning, is joining us today to offer a few ways to cash in on where we're headed...
Over the last two weeks, we've seen some pretty consistent rallies in the market, but Chris says the S&P 500 has just hit a relative level of resistance, so we'll likely be seeing volatility dragging down stocks.
Today Chris is offering two "smart hedge" opportunities, an ETF and an option play, both of which are primed to profit as the larger market struggles.
And, if you've traded on Fast Profits recommendations with us before, Chris is offering some updates on a few trades we've executed since COVID-19 first began impacting the market: JPMorgan Chase & Co. (NYSE: JPM), Etsy Inc. (NASDAQ: ESTY), and Digital Realty Trust Inc. (NYSE: DLR).
Take a look at the video below for updates on previous trades, and for today's two new opportunities....
Today's trade details:
Action to take No. 1: Buy shares of ProShares UltraShort S&P 500 (NYSE: SDS) with a limit order of $25.
Action to take No. 2: Buy to open Oct. 16, 2020 SPY $260 puts (SPY201016P00260000) with a limit order of $18.
An Unconventional Profit Play for an Unconventional Market
As the market inevitably heads lower, both of these positions will begin to see profit.
But as we've seen over the last few weeks, there's more than one way to profit in a down market, you just have to know where to look.
For instance, as we head downward toward the true market bottom, before seeing a long-term rebound, we're now in an ideal position to start going short on puts.
This will allow us to maximize profits on short-term retracements.
It may sound a little complicated, but Tom Gentile has just made it easier than ever. For the first time in his career, he's pulling back the curtain on his full strategy to capitalize on this bear market.
He's already put it to the test, banking over $14,000 on Microsoft instantly, using only his phone.