Fast Money Blog- 6/24/22

This week we saw the Dow Jones Industrial Average and the S&P 500 experience continued volatility as the bulls and bears fight for supremacy.

On Thursday, June 23rd Federal Reserve Chairman Jerome Powell told lawmakers during a hearing before the House Financial Services, that the Fed will continue to raise interest rates in an effort to force inflation to decline.

The Dow Jones ended the day on Friday, June 24th, up more than 800 points, indicating the stock market is close to a bottom.

Over the next 4 weeks I except to see Wealthy Investor stocks like Apple, Inc. (AAPL), The Home Depot, Inc. (HD), Advanced Micro Devices (AMD), and Lowe’s (LOW) remain in a predictable trading range.

Once again, your best trade in this environment will be 30 day out-of-the-money covered calls combined with 3 week bear call spreads.