Money Vikings Investing - Week of 4/15/24

In This Issue: Market Report, Finviz/Sector Analysis, Sentiment, Earnings, Is the American Dream on Life Support?, Fear and Greed Index,🔥 HotTrades: Updates on VZ and COPX calls for profit!

Money Vikings (Jerry)

and

Greg Money Viking

Apr 13, 2024

Have you finished your taxes or filed for an extension? Putting it off because you can’t find a statement? Did you start in February intending to complete, but somewhere along the way you ran out of steam? This is the last weekend to file before the 15th of April. As the market slowly pulls back, note that SPY is still above the 50 day moving average, and some might call this a healthy bounce (if it does bounce). For some context, you’ll see SPY is trading where it was about a month ago (which we were happy about), and the VIX is near where it was last Halloween 🎃. Commodities like Gold, Oil, and Agriculture are all doing quite well for the year. Are they a good place to hide?

Be sure to check out our shorts over at https://truewealth.moneyvikings.com and on YouTube!

Finviz Heat Maps - a Weekly View

Lots of red, and a little bit of green. Note the green is in Apple, Google, Tesla, Costco, Amazon. Where to hide? Maybe It’s not on this chart :)

The Fear and Greed Index, AAII & VIX

A serious drop in the Fear and Greed indicator. Just one week ago we were at 62 and now we’re almost below neutral and into Fear 😱

Slowly but surely, for the last 3 weeks, investors are moving from bullish to neutral. Bearishness increased 2% and this report doesn’t even take into account Friday’s drop. (https://www.aaii.com/sentiment-survey)

Is the vix determined to go back to last year’s mid-October highs around 21? Something to keep an eye on this week. Remember, as volatility rises, this pays more premium for traders selling options (think covered calls, iron condors, and cash secured puts!).

Is the American Dream on Life Support?

A lot of people are struggling right now, and many feel like the American Dream is going down the toilet. We understand the pessimism. Watch more for Greg’s take on what’s happening, and reasons to still be thankful for what we’ve got in this country.

Watch More

Earnings Next Week

Hot Trades - Updates on COPX and VZ

Premium Members on substack and discord received updates on my VZ trade:

VZ Covered Call Update - on 4/9 My Verizon shares were called away. This means I kept the $46 premium as profit from the short call I sold 3 weeks ago, I also made profit from Verizon dividends, and short call premium over the past few years. I still have COPX and CARR covered calls open until Friday.

COPX Covered Call Update - my short call was for 4/19 at 43. Even though COPX has fallen this week, as long as it’s above 43 by close on Friday, I’ll also be selling COPX (for a profit) and keeping the entire premium ($86).

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