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Joined: 28 Dec 2005 Posts: 11966
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Posted: Fri Jan 20, 2023 8:35 pm Post subject: Next Week Trading (Jan 20th) |
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Next Week Trading (Jan 20th):
SPX closed the week at 3,973. There will be some big earnings reports next week, including MSFT TSLA JNJ GE TXN MMM BA INTC CVX KLAC and AXP. There are some bullish indicators. Sentiment has been very bearish for a long time, the economy is holding up well (real GDP growth and labor market), inflation has slowed, the Fed may raise rates 25 basis points two more times and then pause, etc.. A recession may not begin till Q3 2023. One big reason inflation slowed is oil prices fell from roughly $120 to $80. I'll be looking for a SPX breakout and uptrend into middle of year. SPX resistance is around 4,020. If it breaks out, it may rise to 4,250. Perhaps, TLT will pullback more if that happens, which would be a buying opportunity, along with SPY Oct or Nov puts. Anyway, I'm mostly on the sidelines for a while.
My portfolio is over $2,510,000 including $2,495,400 in cash.
Calls Contracts-Shares Long
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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