Britain voted no… Time for you to vote yes and trade the market again and again.
Don’t do what others are doing. Don’t speculate on the indexes. Don’t trade what the blow-dried instant experts on CNBC tell you to trade.
I mention blow dried because I think Jon Najarian is terrific… I don’t know Pete—and he doesn’t have hair worth mentioning.
Where was I… See what crazy markets do to thoughtful people?
Anyway, you get it. Don’t get crazy.
Don’t panic. Stay sane and thoughtful.
Look for great undervalued companies that held after the open; look for where they find support.
One such company is Blackstone (BX). I traded it today in my services, I own it, have calls expiring today, and will have more on Monday. You should consider doing so as well.
In my opinion, Blackstone is the best publicly held private equity company in the world.
It’s grossly undervalued, sporting a dividend between 5% and 11%, depending on the assets they sell in a quarter. And it’s easy to sell calls against.
If you bought the shares right now at $24.50 and sold a call expiring next Friday, July 1, you would collect about $60 per contract, $0.60 per share.
That’s more than a 2% return in a week, whether you’re called out or not. If you made this trade every week for a year, you’re looking at a 127% annualized return.
Check out today’s trading chart. Then think about it.