PeakTrader.com

[administrator]

Next Week Trading (Apr 29th):

Sentiment remains very pessimistic, which is bullish. Last week, bearish sentiment was the highest, since March 2009 (with low bullish and neutral sentiment). The daily NYMO fell to negative 46 after bouncing from negative 65 to negative 21 during the week, and the Fear & Greed Index is 27 (near extreme fear). SPX is at 4,132 (close to the 2022 intraday low in February). All this suggests a SPX bounce next week. Over the next week or two, SPX may rise to at least 4,300, and may rise to 4,500 sometime in May, before the bear market rally is over. I plan to buy SPY and BABA calls on pullbacks, and perhaps more ARKK shares.

My portfolio is at $1,215,000 including $1,044,900 in cash.

Calls Contracts-Shares Long

SPY Jun 420 2022 70
BABA Jun 100 2022 20
ARKK 1,000 shares
DNA 6,000 shares

Puts Contracts-Shares Short

None

Portfolio at $100,000 on March 1st, 2018. Portfolio stop loss suspended. Scaled up and adjusted portfolio. Both prior portfolios, since early 2000s, rose initially and substantially, and then failed quickly in “irrational” market “melt-ups," where stocks can go straight up month after month.