A thought to ponder.
"It's time in the market, not timing the market." As the old adage goes. Of course, it's true, but there are exceptions. Hey, even a dead clock tells the correct time twice day.
For those of you who may be less conventional, and I understand there are those who aren't, there is a great place to relatively safely park money and make money, while the stock market continues to weeble-wobble its way through the year or TSLA and others decide to take off.
I watched TSLA stagger and fall from $400 a share to $230 in late '22. I finally woke up and replaced my TSLA shares with some profiting lithium for a while until it petered out. Months ago, I began to hunt for a safer place in this volatile market.
An option in dealing with a volatile market is to move into cash, but that's no fun. And CDs at 4% tie you your money up for lengthy periods of time and don't provide much entertainment either.
Searching for a safe place to park $$?? I stumbled upon a rather productive ETF, JP Morgan NASDAQ EQUITY PREMIUM INCOME ETD (JEPQ), where the managers know a hell of a lot more than I do about puts and calls and from what I see, have been doing quite well - YTD (13.04% YTD).
DIVIDEND
Here is the kicker!! The JEPQ fund ALSO pays a 12.21% annual dividend on a monthly basis. It sure is more fun to get a $10,000 deposit monthly, than it is to watch TSLA and others weeble-wobble, and it is a lot less stressful, as well. Not for everyone, because there are still those who enjoy the old adage, and the stress that goes with it. But this old boy enjoys a roughly 24% per annum, without the hoopla. A great place to park cash. Unlike CDs and bonds, it's nice to have the ability to trade in and out on a daily basis as well.
When TSLA decides to outdo 24%, I guess I will be ready to jump back in. I keep one (1) share of TSLA just to remind me of what I am NOT MISSING.
And for those days when TSLA tumbles and screams, don't forget TSLQ which is the inverse or TSLA and TSLL, which we call TESLA TURBO (moves at 1.5 X the rate of TSLA). Remember, that TURBO moves down at 1.5X as well, so if you know what you are doing and are wearing your big boy pants its a fun place to play and make some cash.
I found a great place to keep up with TSLA and the market on a daily basis that I enjoy and I share. It Rey Jay's Trades
I know there are many like it, but it gives me a good market picture in the shortest period of time.
TSLA to the MOON! SOME DAY SOON?