After A 140% Winner, Here’s A Sneak Peek At Our Next Big Trade
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– ETF Watchlist –
CPI came in at 3% as opposed to the estimated 3.1% many were expecting. This was very good news for the market as prices across various sectors went flying. From tech to energy, stocks got a much needed boost from this CPI report after falling into a zone of consolidation for the past couple weeks since the start of July. This is a good sign for the bulls are the rally may have just gotten its second leg.
If this rally continues, you would be hard pressed to find a stock or sector that wouldn’t also be roaring higher. However, the trade we have next on watch for the Smart Trades trading community is one we are looking to put on after closing out our recent 140% winner on the XLI. Let’s take a look at it in greater detail below.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
After breaking the level of 130, we are very close to pulling the trigger on a trade with regards to the XOP. This ETF tracks very closely with the price of oil, which we believe just put in a very meaningful bottom and could be ready to surge higher.
For quite some time, oil has been stuck under a resistance level of around 74-75, and today there was finally a meaningful break of that level with the drop of CPI. The best way to go about this trade may be to put on a starter position on the XOP, while leaving room for a pullback to around 130 for a retest. However, those not willing to jump in with both feet just yet can wait how the dust of today settles.
Patience is always your friend, but if you want to see how we plan to take this trade, you’ll need to join the Smart Trades community. There you’ll have access to all our latest trades.
In fact, when you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…
