Hi Shoppers,
Wow, what a crazy week!
In my last letter, I called $425 on SPDR S&P 500 (Ticker: SPY) … and I still think we can trade down to that level.
That would be right about an 11% move from the high close on Jan. 4 – AND we still have the Fed on Wednesday!
Are you ready for that? Because this ain’t over.
Well, Option Pit has the perfect answer to help you navigate these crazy markets and all the upcoming “Fedspeak.”
It’s Griffo.
Bill Griffo.
That’s right, 40-year trading, $60 million-in-one-year-on-the-Bear Stearns-bond desk Griff is going to break it all down for you on Wednesday starting at 3 p.m. EST after the FOMC meeting.
Join in and you’ll get …
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The big mistake the Fed is making (and why)
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The major sector shift that will drive markets in 2022
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The stock you MUST own to beat inflation
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The proven process Griff uses to make money in every market
Plus, get Griff’s top trades to start beating the Fed TODAY!
Look, the man knows his shitake (that’s Andrew Giovinazzi’s word for you know what).
Griff has nailed these markets time and again, and his Power Income Trader Portfolio is up 58% since launching in September.
In fact, check this out …
Back on Jan. 14, Bill wrote this piece titled Has the Bear Market Started?
Now look at the Invesco QQQ Trust (Ticker: QQQ) stock chart:
Griff nailed it.
But that’s not the first or the only time he has called it.
On January 15th, he wrote Time to Sell the Banks.
Sure enough … check out the SPDR Financial Sector ETF (Ticker: XLF):
Boom. Again.
Those are just two examples of his market prowess.
I have traded on his recommendations numerous times recently and they have all been winners.
So, like I said before, Griff will translate for us after the FOMC meeting. He is holding a LIVE session Wednesday Jan. 26 starting at 3 p.m. EST>
With a record like Griff’s you DO NOT WANT TO MISS what he has to say.
I know I will be there.
>> Click here to register. <<
Of course, I wouldn’t leave you hanging on the candle front …
Searching the Market for MRK
I am looking at the Merck (Ticker: MRK) stock chart:
As you can see, after the run up from $72 beginning Dec. 7, MRK has been trading in this narrow range of $80.72-$81.72.
On Friday, it has broken out of that range to the downside.
I think MRK can trade down to at least $77.
I like puts expiring Friday Jan28:
If MRK opens and trades lower on Monday I will be a buyer of the Jan. 28 80-strike puts and I will pay around $1.00.
I will begin profit taking on these over $2 and exit if they trade below $.70.
Thanks for Reading … See You Next Tuesday!
Licia Leslie