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Joined: 28 Dec 2005 Posts: 11966
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Posted: Thu Dec 23, 2021 6:43 pm Post subject: Next Week Trading (Dec 23rd) |
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Next Week Trading (Dec 23rd):
Given the 200 point SPX run-up, since Monday, and close today at 4,725, I expect a pullback or consolidation period next week. The daily NYMO rose from negative 48 Monday to positive 36 today. Also, VXX fell little compared to the SPY rise. Typically, VXX has a bigger percentage downside move with a SPY rise. And, sometimes rise together, which often precedes a SPY pullback. I expect VXX to rise above 30 sometime before March options expire, but will take advantage of volatility to trade. I plan to trade only VXX and BABA calls next week and SPY puts.
My portfolio is over $545,000 including $259,000 in cash.
Calls Contracts-Shares Long
VXX Feb 20 2022 300
VXX Mar 22 2022 300
BABA Feb 120 2022 40
BABA Mar 120 2022 20
Puts Contracts-Shares Short
SPY Feb 475 2022 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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