Though the stock market is seeing some good fortune, Chris Johnson says major market signals in the financials sector are reading for disaster.
That's why he's recommending this bearish options play – to help you profit on the downside of the banking industry.
Check it out, in this the latest from Fast Profits with Money Morning...
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Major market indicators suggest financial stocks are going to have a long tough recovery from the coronavirus crash.
Chris Johnson says he has a bearish outlook in this sector for the next 6 months at least. That's why he's given us this option play to capitalize on the market turbulence.
See the full details in this latest episode of Fast Profits with Money Morning.
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Stocks fell to close the week after Amazon and Apple's earnings reports yesterday.
With most of the economy closed, there's not a lot of optimism among investors that next week's earnings reports will be able to drive the market higher.
And to add to that, there are rumblings that the U.S. may impose more tariffs on China.
The Dow fell 622 points, or about 2.5% to close the day.
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Just hours after I delivered a trade recommendation to hedge the coronavirus market drop, markets took another 3% to 4% hit. That's how fast shares are moving right now.
There are a lot of unknowns when it comes to what's ahead for the coronavirus market impact. But using my history of trading in the stock market, I've found there is a sector that often leads the market lower in similar circumstances as we have today: the financials.
I've been focusing on this group for the last week. A closer look shows us that there are a couple of companies within the financial sector that have actually not been making new highs, have been trading level since December, and are now starting to lead the rest of the sector down.
These are what I refer to as my "Worst in Breed" stock picks as opposed to my usual "Best in Breed" picks. A "Worst in Breed" pick is a stock leading a hard-hit sector even lower.
The coronavirus is going to have a global impact on the economy, which we'll see play out in the financials. These stocks are intertwined with all the large economies. There will be continued weakness in this sector.
That's why today, I'm going to show you a way to play the entire sector's drop with two trades that are so easy to execute, even my mother could do it.
Remember, there's no such thing as a shortage of opportunity – even among rising market panic – so long as you know where to look… Full Story
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As COVID-19 drags down the market in full-force, these two Fast Profit recommendations could still double your money.
Chris Johnson, Editor of night trader has found two financial stocks that he says will have the longest drop.
Each of these trade recommendations could double your money if you get in soon...
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