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Joined: 28 Dec 2005 Posts: 11966
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Posted: Fri Oct 26, 2018 2:10 pm Post subject: Next Week Trading (Oct 26th) |
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Next Week Trading (Oct 26th):
SPX closed above 2,650, which is strong support and the next support level is 2,550. The 200 day MA at 2,760 is resistance. Perhaps, there was a “wash out” and SPX will clear 2,760 in November. Some are expecting SPX 3,000 in January. I expect a higher market. So, I’ll continue to buy SPY Jan calls. GE reports earnings Tuesday. Perhaps, it will fall initially, then rally.
My portfolio is over $380,000 including $289,800 in cash.
Calls Contracts-Shares Long
SPY Jan 265 2019 20
SPY Jan 270 2019 20
GE Jan 12 2019 100
GE Mar 13 2019 1,000
Puts Contracts-Shares Short
None
Portfolio at $100,000 on Mar 1st, 2018. Portfolio stop loss raised to $200,000. Stop loss will be strictly enforced and extreme caution will be taken if triggered to avoid large losses and preserve capital in "irrational" market periods. |
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