administrator Site Admin
Joined: 28 Dec 2005 Posts: 11966
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Posted: Sat Sep 17, 2022 7:27 am Post subject: Next Week Trading (Sep 17th): |
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Next Week Trading (Sep 17th):
SPX closed the week at 3,873 with the daily NYMO at negative 52. The FOMC announcement is Wednesday. SPX may be volatile next week, because there are both bullish and bearish indicators (including a weekly bearish engulfing, market tends to do poorly week after triple witching, high short positions and poor sentiment for a short covering rally, etc.). However, if SPX falls to 3,800 Monday or Tuesday, that will likely be a buying opportunity for a short term bounce. So, I plan to buy SPY and BABA calls on pullbacks.
My portfolio is at $1,960,000 including $1,891,200 in cash.
Calls Contracts-Shares Long
SPY Nov 380 2022 10
BABA Jan 90 2023 50
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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