The markets on August 24, 2015, were down across the world, with only two stocks notable for going up. Oil continued its slide downward, going below $40 per barrel for the first time in years. In short, it was a rough day for buy and hold investors with no protective action in place.
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Description
The markets on August 24, 2015, were down across the world, with only two stocks notable for going up. Oil continued its slide downward, going below $40 per barrel for the first time in years. In short, it was a rough day for buy and hold investors with no protective action in place.
For those in the know, though, the day was an opportunity (provided you didn’t short either of the two stocks that actually rose). Options pricing is considerably higher due to VIX spiking 40%. Gold had a mild rally, as well. If you’re prepared and know where to look or are a directional trader, every market holds the opportunity to increase your account size.
Notes
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