This week U.S. stocks have once again remained range-bound.
Of course the big story this week was surrounding Apple’s Q1 earnings warning. It turns out that iPhone sales are slowing around the world. As a result, Apple’s annual earnings are slowly declining.
Thursday’s decline in Apple shares was followed by strong retracement in Fridays session.
I believe most stocks that we trade in the Wealthy Investor program will be range-bound for the next three months. That is a great scenario for covered call writers like you and I. I suggest you take all covered call income and leave it in your trading account as cash until you get Dow component buy signals.
Stay Open! Stay Patient!
Tyrone Jackson
The Wealthy Investor
