We just pulled an audible.
I’ve been telling you all week that I was going to talk about earnings today. I was going to cover anything and everything about the Q2 reporting season.
But that was before the market decided to drop deep into the red.
The VIX is making a wild move – and it’s changed my red light to a soft yellow.
But that doesn’t mean we need to panic.
This may just be a spike, which means that the VIX will head down again in just a couple of days – giving us a great opportunity to fade this move.
Which is exactly why I decided not to talk about earnings today.
Instead, I showed you how to trade a red day – and I issued the following trade recommendation:
When the market starts to go back up, the VIX should go down – and the UVXY will go down with it.
We also talked about multiple trade ideas around the SPDR S&P 500 ETF (NYSEARCA:SPY), the iShares Russell 2000 ETF (NYSEARCA:IWM), oil, and travel stocks.
Until tomorrow, good trading,
July 08 2021