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Our Fast Profits plays have been crushing it in 2021, with an average 40% gain on open positions and a running 80% win rate - and they're all bets on stocks going up. But today, it's about time we cash in on the market's downside and add a "short" move to our call-heavy roster.
On today's Fast Profits with Money Morning, I'm targeting a stock in the semiconductor sector that looks like it's headed toward a drop-off.
Though the financial media is crying out to "buy the dip" on semiconductor companies following the global chip shortage, some of these stocks are down for a reason... like today's stock to short.
And amid so much uncertainty on the market, it's the perfect way to play a downside move after any Fed-induced volatility.
Check out the video below for the full play-by-play...
Action to Take: Buy to open CREE Sept. 17, 2021 $97.50 puts (CREE210917C0009750) using a limit order of $9.
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About the Author
Chris Johnson is a highly regarded equity and options analyst who has spent much of his nearly 30-year market career designing and interpreting complex models to help investment firms transform millions of data points into impressive gains for clients.
At heart Chris is a quant - like the "rocket scientists" of investing - with a specialty in applying advanced mathematics like stochastic calculus, linear algebra, differential equations, and statistics to Wall Street's data-rich environment.
He began building his proprietary models in 1998, analyzing about 2,000 records per day. Today, that database, which Chris designed and coded from scratch, analyzes a staggering 700,000 records per day. It's the secret behind his track record.
Chris holds degrees in finance, statistics, and accounting. He worked as a licensed broker for 11 years before taking on the role of Director of Quantitative Analysis at a big-name equity and options research firm for eight years. He recently served as Director of Research of a Cleveland-based investment firm responsible for hundreds of millions in AUM. He is also the Founder/CIO of ETF Advisory Research Partners since 2007, noted for its groundbreaking work in Behavioral Valuation systems. Their research is widely read by leaders in the RIA business.
Chris is ranked in the top 99.3% of financial bloggers and top 98.6% of overall experts by TipRanks, the track record registry of financial analysts dating back to January 2009.
He is a frequent commentator on financial markets for CNBC, Fox, Bloomberg TV, and CBS Radio and has been featured in Barron's, USA Today, Newsweek, and The Wall Street Journal, and numerous books.
Today, Chris is the editor of Night Trader and Straight-Up Profits. He also contributes to Money Morning as the Quant Analysis Specialist.