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Next Week Trading (Mar 13th)

 
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PostPosted: Fri Mar 13, 2020 1:14 pm    Post subject: Next Week Trading (Mar 13th) Reply with quote

Next Week Trading (Mar 13th):

The daily NYMO rose 61 to negative 78 - still in very oversold condition. It suggests SPY will rise further to 275 or 280 next week. However, with a stimulus package by Monday suggests it will rise higher. So, I plan to buy calls on pullbacks. I suspect, there has been a lot of shorting, which may cause a short squeeze with SPY rising even higher. However, I may hedge with some puts.

My portfolio is about $220,000 including $109,900 in cash.

Calls Contracts-Shares Long

SPY Apr 280 2020 50
HAL May 10 2020 200
OIH Apr 5 2020 400

Puts Contracts-Shares Short

VXX Mar 40 2020 50
VXX Mar 45 2020 20

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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