Stock Market Update- 2/9/18

Volatility, volatility, volatility.It’s official, both the Dow Jones and S & P 500 are in correction territory.When we experience a correction your focus should NOT be on your account value, rather on how much covered call premium and dividend income you can generate during this time. During a correction you may find yourself selling six week covered calls to achieve your monthly target.The following steps will keep you in line with Wealthy Investor discipline:Step 1: Sell out of the money, 6 week covered calls on existing stock positions.Step 2: Sell 30 day in-the-money covered calls on new stock positions you may establish within the next seven days.Step 3: Stagger your covered calls so they don’t all expire on the same expiration date. The average pull back in the stock market lasts between 30 and 90 days.Be patient, as I expect the market to resume its normal bullish pattern within the next 45 days.Learning how to trade and invest during every market condition is a skill.I’m here to support you and help you generate income regardless of market direction. Tyrone JacksonThe Wealthy Investor