PeakTrader.com

[administrator]

The daily NYMO closed below negative 127, an all time low. I expect a volatile day Friday. SPY may bounce 10 to 15 points, particularly on a low open, given very oversold conditions. I plan to trade SPY and QQQ Feb 28 and Mar 6 calls, which will have huge leverage. Also, it's possible, after a quick oversold rally next week, the low will be tested and perhaps make a lower low later in the week next week before a sustained uptrend takes place. Nonetheless, I expect the market to be much higher by end of March.

My portfolio is at $140,000 including $22,400 in cash.

Calls Contracts-Shares Long

SPY Feb 300 10 weekly 28th
SPY Mar 305 30 weekly 6th
SPY Mar 310 2020 40
SPY Mar 314 2020 100
QQQ Mar 210 2020 40
OIH Apr 10 2020 300
SLB Apr 32.5 2020 200
SLB Jun 32.5 2020 200
SLB Jun 35 2020 200

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.