It feels like forever since WTI crude hit 120 in June as it is sitting around $75 a barrel today as oil continues its plunged towards lowest levels of 2021.But this weakness could be getting close to lows says Money Morning trader Garrett Baldwin, who sees lows closer to $70.
Watch here for Garrett’s top buys…
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President Biden took another jab at Big Oil yesterday, taking aim at a record $30 billion in combined industry earnings this quarter.He threatened higher taxes on oil companies should they fail to work to lower consumer gas prices.Americans continue to face high prices at the pump – $.3.75 a gallon on average nationwide – despite the Department of Energy releasing millions of barrels of oil from the Strategic Petroleum Reserve.
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Oil is sitting at prices we haven't seen since 2018, and gas is averaging above $3.08 nationwide.
You can more than offset the "pinch at the pump" with three small oil stocks Mark Sebastian's going to name.
For less than the price of a tank of gas, you can double your money – or better.
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Many beginning investors focus on what they need to do to find success.
And that is perfectly normal.
After all, you need to select the right stock, the right option, and then buy it at the right price.
But knowing when to sell is only have the formula.
There are also important things to avoid in this process.
Today, we're going to talk about the 6 biggest options trading mistakes you could make starting out.
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If you've been profiting on the market's historic 40% rebound since March, you may have looked at Thursday's 7% plunge as derailing your gravy train.
However, nothing could be further from the truth.
While your call options did not fare well that day, there is no need to panic.
In fact, there are opportunities to make money when stocks go down too.
Here's one trade you can make to do just that...
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The economic impact of the coronavirus outbreak is more apparent after the Dow Jones Industrial Average posted a more than 500-point loss Wednesday.
But you already knew this was coming.
We've been calling the "dead cat bounce" for weeks.
So now is the time to buckle down and make something of what you know.
We have an options trading strategy that's already earned readers more than 1,000% this year.
And it could work again.
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The Dow Jones will attempt to rebound today after a wild Tuesday trading session.
Markets continue to weigh the rising number of coronavirus cases and the impending economic impact of the virus.
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You're stuck at home.
Restaurants are shutting down.
Retirement accounts are in shambles.
Tom Gentile, Money Morning options trading specialist said this yesterday: "It didn't start yesterday, and it's not going to end tomorrow."
But Tom still has trading strategies for this market.
Yesterday, he said traders should "simply take less risk, look at what's going up in a down market, and exploit volatility using options."
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Now that the bear market is official, the question on everyone's mind is whether they should sell their stocks and perhaps park their money elsewhere.
Short answer: you should probably not short stocks right now.
You should try options trading instead.
Here's why.
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The Dow Jones Industrial Average slid more than 2,000 points on March 9 (Monday).
And while that's a jarring single-day loss, it wasn't all that surprising given current market fears.
Concerns about coronavirus are no laughing matter.
But it's important to realize that, even in a market gripped by fear, there are profit opportunities.
Specifically, we're going to show you an options trading strategy that returned 1,025% in less than 30 days.
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