How To Get Paid During the ChopFest
Friday handed you a tape with nothing in it. Crude knifed to fresh lows again and again. The equities locked up for an hour and a half. They ground out lower highs and lower lows. A tape like that bleeds an account one scalp at a time. You force a click, you get chopped, you force another. When a member asked me about an oil name during that stall, I walked through a calmer way to get paid. It is a setup that could collect 2.3% in a month on a stock worth owning, with a 4.6% cushion before any trouble. Here is the idea I laid out on ConocoPhillips. A Tape That Pays You Nothing for Trying For most of Friday the equities went sideways. No follow-through came in either direction. Crude was its own mess. It melted to new lows all session. The fast money kept clicking into