Now is the time to buy XLE. It's trading near 87.sweetandsour wrote: ↑03 Feb 2023, 06:34 CNN Business Fear and Greed Index is maxed out on "Extreme Greed". "The market is broken", says some of the analysts now. I've been mostly watching so far this year, with just a few trades for small profits. My trading money is still on the side, except for a small stock fund that is up 8.74% for the year. I'm waiting for some deals, while still practicing options trading on paper on the side.
https://www.cnn.com/markets/fear-and-greed
Or you could sell a put for March 3 at strike 88. Pocket $300 in premium. This trade expects to expire out-of-the-money, and you keep the premium. But if it happens to close below 88, then you actually buy shares at 88 - 3 = 85.
Do this as a paper trade, if you like.
Tech sector (XLK) is still flying high on greed. Meanwhile energy is orphaned and undervalued. I expect that these will correct soon. Before the end of earnings season.