I Sent Notes to Jim Cramer Last Night
Dear Profit Takeover reader,
Finance guru Jim Cramer has a little show on CNBC called Mad Money…
Maybe you have heard of it.
And anytime Jim Cramer has a question about VIX – the Chicago Board Options Exchange’s Volatility Index, he asks me…
Last night, I sent him some charts and my readings on the market’s pulse…
As you can see in the following clip, the SPX and the VIX generally move inversely to one another –
And it’s only when they start to move in the same direction that there’s cause for concern.
I think this dip we are seeing in the market is temporary and we are going to see a turnaround soon as volatility settles out.
SPY is currently around 444.31, and we could see a rally on the way.
Image from wallstreet.io
In case you missed it… this was last night’s feature…
But while volatility is high currently – with the VIX up over 20 – there’s going to be plenty of opportunity in my cheap options watchlist scan…
Here’s a sneak-peek of the watchlist I sent to the Profit Revolutionaries this morning…
There were no less than 16 ticker symbols on my list today… here were the top 5:
HMHC 20 & 22.5 strikes
MARA 24 & 24.5 strikes * SSR
LCID 23 strike
RIVN 41 strike
SLV 22.5 strike
My watchlist includes the ticker symbol and strike price and then, during my daily LIVE premium trading session, my members and I take a look at the direction the stock is moving to see if the options are worthwhile.
I drop the FULL watchlists everyday in the Profit Revolution trading room announcements…
If you want these lists – and access to all the other Profit Revolution live shows, wallstreet.io software, and other perks, CLICK HERE to join the Profit Revolution.
Or click RIGHT HERE to find out more.
Until next time,
Mark Sebastian
Founder, Profit Takeover
VIX LIGHT
Despite the volatility spike the past two days, my VIX traffic light is still…
RED.
Which means, I expect volatility to stabilize or drop.
Vol spiked up the last two days, somewhat – and now it’s at about $23.34.
Image from Yahoo Finance
HOWEVER, VIX has stayed in a contango formation.
VIX futures are a touch soft today…
I am looking for a potential rally this afternoon in the market…
SPY is currently around 444.31.
Image from wallstreet.io
And I think we could see a bounce soon.
WEEKLY SCHEDULE (ET)
TODAY’S WATCHLIST
- HP Inc (NYSE:HPQ)
Warren Buffett is taking a big stake – 11% – in HPQ.
The stock is currently at $43.59
Image from wallstreet.io
We could see it come off more over the next day or two.
- Twitter Inc (NYSE:TWTR)
As predicted, TWTR is dropping and currently trading below $50
Image from wallstreet.io
It could make a run at $45.
- Uber Technologies Inc (NYSE:UBER)
UBER has been very weak due to a tight labor market and gas prices skyrocketing.
Image from wallstreet.io
That combined with the potential new Covid variant could push the stock below $30 again.
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April 07 2022
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