Let’s start with the good news.
Earlier this week, we highlighted Boeing (BA) as an opportunity at $100 a share. This morning, it’s up to $175 where you may want to consider taking a win.
The bad news is the markets are likely to fall a few hundred points today.
In fact, Dow futures are down more than 600 points. All as questions emerge on whether the House can get the votes it needs for the economic relief package before the weekend. Rep. Thomas Massie is threatening to demand a recorded vote, says CNBC, which would require at least 216 House members to be present to vote.
Making things a bit worse, the U.S. has become the nation with the most cases, topping China and Italy. At the moment, the U.S. is up to 85,996. China has 81,894. Italy has 80,589. Globally, there are now 542,788 cases with a total of 24,361 unfortunate deaths.
With markets likely to pivot lower until we have certainty on the stimulus bill, some of the best ways to protect your portfolio are by using the UVXY ETF, and the VXX. Both typically rise along with volatility. Stay tuned for more.