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Next Week Trading (Dec 4th)

 
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PostPosted: Sat Dec 04, 2021 7:45 am    Post subject: Next Week Trading (Dec 4th) Reply with quote

Next Week Trading (Dec 4th):

The daily NYMO fell 15 points to negative 65 and SPX held 4,500 (closed 39 points lower at 4,538). I plan to buy QQQ and BABA December and January calls on pullbacks. Perhaps, QQQ will trade roughly between 380 and 390 Monday (closed at 383), and BABA can rise 10 to 30 points on oversold status and valuation (e.g. sales growth and P/E), after losing about two-thirds of its value closing at 112. SPX lower support is 4,300 (early October low and 200 day MA). Resistance between 4600 and 4700.

My portfolio is over $455,000 including $366,400 in cash.

Calls Contracts-Shares Long

QQQ Dec 375 2021 10
QQQ Dec 380 2021 40
BABA Jan 120 2022 10
BABA Jan 130 2022 30
SLB Jan 32.5 2022 100

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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