Markets got a bounce to end the week as we moved toward the finish line for Friday’s quad-witching...
But one sector lagging behind is one we’ve been watching closely all week — Energy.
Since Tuesday’s feature, the Energy Select Sector SPDR Fund (NYSEArca: XLE) fell another 10%, bringing its slide to more than 21% over the past two weeks.
While some gurus were squawking about how strong the sector was and how traders could hide out there from this volatility storm, my Project X strategy jumped on a short signal on Warren Buffet’s pet oil stock, Occidental Petroleum, later that same Monday.
Fast forward to Thursday and OXY shares dropped 6%, allowing the strategy to exit for a solid 25%* return in three days, beating both our average 11-day holding period and clearing our 8% average return — including all winning and losing trades — since inception going back to Feb. 25!
That wasn’t the only short play New Money Crew capitalized on as markets plummeted — our Wiretap Alerts strategy kicked off the week with two fantastic wins on Nikola and Pfizer! It’s a great feeling for your trades to finish in the green, especially when the whole market is a sea of red…
And to help us stay on top of these markets, I have a fresh set of names I’m watching as we head into the three-day weekend with the New Money Crew Weekend Watchlist..
You’ll Know the Selling Is Over By Watching This Sector… June 14, 2022
It’s impossible to tell just how deep this plunge will take the market, but that doesn’t mean there aren’t signs traders can use to spot a market bottom…
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