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Joined: 28 Dec 2005 Posts: 11966
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Posted: Sat Nov 30, 2019 8:16 am Post subject: Next Week Trading (Nov 30th) |
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Next Week Trading (Nov 30th):
It's been a tough trading market the past six months, after making gains consistently for quite a while. I've been more cautious and staying heavy in cash. VXX calls may be the best bet for short-term gains. A minor market pullback will result in a spike higher. So, I plan to buy more VXX Dec 6 16 calls on pullbacks. If HAL or OIH pullback on a small correction, I'll buy calls. I may buy SPY Jun puts for a longer-term trade, in case of a 10% or more correction. I don't see many stocks selling at bargain prices.
My portfolio is about $725,000 including $560,300 in cash.
Calls Contracts-Shares Long
VXX Dec 16 200 weekly 6th
VXX Dec 17 400 weekly 6th
OIH Jan 12 2020 1,000
Puts Contracts-Shares Short
SPY Jan 315 2020 100
QQQ Jan 205 2020 100
Portfolio at $100,000 on March 1st, 2018. Portfolio stop loss raised to $400,000. Scaled up and adjusted portfolio. Both prior portfolios, since the early 2000s, rose initially and substantially, and then failed quickly in “irrational” market “melt-ups.” |
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