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Next Week Trading (Jul 23rd)

 
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PostPosted: Sat Jul 23, 2022 5:38 am    Post subject: Next Week Trading (Jul 23rd) Reply with quote

Next Week Trading (Jul 23rd):

SPX failed to hold 4,000, but closed above its 50 day EMA Friday. Some earnings reports next week are Monday: GOOG, Tuesday: MSFT, Wednesday: META, Thursday: AAPL and AMZN, Friday: XOM and CVX. Given macroeconomic conditions, the best trade is likely buying SPY and QQQ September or October puts on market bounces, to make gains on volatility and a resumption of downtrend or retest of SPX's 200 week EMA around 3,650, although it's possible SPX can rise to about 4,200 first. Also, perhaps GOOG calls and AAPL puts may be buys. Moreover, adding more SLB HAL and BABA stock on pullbacks are relatively safe bets.

My portfolio is over $1,760,000 including $1,501,600 in cash.

Calls Contracts-Shares Long

SLB 1,000 shares
HAL 1,000 shares
BABA 1,500 shares

Puts Contracts-Shares Short

SPY Sep 400 2022 30

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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