Red Red everywhere, we have Prospero, don't despair
SaltyProfits
Hello Everyone,
Unless you're on a secluded island I’m sure you’re watching today’s market meltdown. CPI came in hot today, I leave it to
to get into the details, but I’m watching Core PCE tomorrow to provide a rebound. As I write this (3:13pm) we are seeing a little buying but if it continues to roll down I’ll dismiss this as a short covering rally. How do we take advantage of this?If you look at your Prospero app, you will see one stock that is not negative on the day. Lilly.
It’s been holding up well on the 3m and the daily chart.
In times of uncertainty, I go to Credit Spreads versus a naked call or put.
So, if the market rebounds tomorrow, I believe Lilly will continue to march higher.
Here is the trade I will look to make.