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Next Week Trading (Sep 23rd)

 
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PostPosted: Fri Sep 23, 2022 3:11 pm    Post subject: Next Week Trading (Sep 23rd) Reply with quote

Next Week Trading (Sep 23rd)::

SPX closed the week at 3,693, after hitting a low at 3,647 Friday. The daily NYMO closed at negative 115. There likely will be a bottoming process into October or a large bounce. SPX could fall to around 3,600 next week and be in a volatile trading range for a while, e.g. 100 point swings, or bounce to 3,900 over the next week or two. Anyway, I'll buy on pullbacks and focus on the four stocks below. A volatile market is a forgiving trading market, and big gains can be made, particularly in a fast moving market, since options expire.

My portfolio is about $1,890,000 including $1,020,100 in cash.

Calls Contracts-Shares Long

SPY Sep 370 40 weekly 30th
SPY Oct 370 40 weekly 7th
SPY Nov 375 2022 100
SPY Nov 380 2022 100
HAL 8,000 shares
ARKK 8,000 shares
BABA Nov 90 2022 100
BABA Jan 90 2023 100

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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