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Joined: 28 Dec 2005 Posts: 11966
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Posted: Fri May 13, 2022 5:14 pm Post subject: Next Week Trading (May 13th) |
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Next Week Trading (May 13th):
SPX closed at 4,024 today, up 94 points. Next week is a monthly options expiration week, which tends to be volatile and bullish. With most technical indicators at or near extreme levels, an uptrend to 4,100 may take place next week. So, I plan to buy May or June calls, e.g. if SPX falls below 4,000 Monday, on SPY AMZN and BABA. I plan to do some light trading, staying heavy in cash.
My portfolio is over $1,425,000 including $1,342,000 in cash.
Calls Contracts-Shares Long
SPY Jun 400 2022 20
BABA Jun 90 2022 40
DNA 10,000 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. |
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