Mark Sebastian: Here’s Why I Killed a Spider Live – On Air

I was live – on air – and in the middle of trading the last Fed meeting… but my wife asked me to take care of a spider. And I’m not just trading for myself – I want to make money for my family and my community. That’s why I’ve helped a small group of Americans make up to 400% gains while everyone else was losing money. And on Thursday at 7 p.m. (ET), I’m showing YOU how it works. Click here to confirm your FREE seat at the table.

Liz here with a quick trade update from CJ! Here’s the deal with your BKR puts – and what to do next.

Position: BKR July 15 2022 $30 Put

Current Return: 36% on first half of position, 15% on remaining half

Baker Hughes shares dipped below their 200-day moving average on Thursday and Friday of last week as the energy sector saw continued selling pressure. Shares have avoided an oversold reading from the RSI I watch but are seeing some effect of the market’s “dead cat bounce” buying. The bounce has resulted in BKR shares moving back above their 200-day moving average, but they remain in danger of another round of selling.

Note that Monday’s buying volume has been extremely light, indicating that confidence in the stock remaining above this key trendline is thin. Historically, these light volume bounces tend to reverse aggressively.

A move back below the 200-day moving average will target the $28 and $26 levels with the possibility of that happening over the next two weeks. $28 would represent a near 100% gain on the second half while $26 more than a double on the position.

Talk soon!

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