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Joined: 28 Dec 2005 Posts: 11966
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Posted: Fri Dec 17, 2021 6:03 pm Post subject: Next Week Trading (Dec 17th) |
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Next Week Trading (Dec 17th):
SPX held 4,600 today and closed at 4,620. It has struggled to hold 4,700 (although hit an all time high about 4,745) over the past two months. Perhaps, it will be in a trading range over the next two or three weeks, particularly since it's up from a little over 3,750, or over 23%, since beginning of year. Perhaps in a 4,500 to 4,750 range? SPY and VXX tend to move inversely. So, I plan to take advantage of volatility to trade January to March calls on them. Also, buy BABA January or March calls on pullbacks. I plan to trade calls only on those three stocks, unless SPX rises above 4,700 to buy SPY puts.
My portfolio is about $555,000 including $476,900 in cash.
Calls Contracts-Shares Long
SPY Jan 450 2022 20
VXX Mar 20 2022 50
BABA Mar 120 2022 10
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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