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Jun 16th Trading Log (Updated & Fri Trading Plan)

 
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PostPosted: Thu Jun 16, 2022 5:03 am    Post subject: Jun 16th Trading Log (Updated & Fri Trading Plan) Reply with quote

Jun 16th Trading Log (Updates):

Current Trades: Bought 50 more SPY 375 calls at 9.3, bought 50 more SPY 380 calls at 6.8, bought 50 more SPY 375 calls at 8.5, bought 1,000 more IWM shares at 165.50, bought 50 more SPY 375 calls at 8, bought 50 more SPY 380 calls at 6, sold the 3,000 TLT shares at 110.00, bought 50 SPY Jul 370 calls at 9, bought 1,000 more IWM shares at 163.00, and sold the 50 SPY 370 calls at 10 (after-hours limit). ---------- The AAII sentiment indicator for week ending yesterday was 19% Bullish and 58% Bearish, an extreme level, which is contrarian bullish. The put/call five day average is about 1.2 with the Fear & Greed Index at 14 (extreme fear). The daily NYMO rose 47 points yesterday to negative 41 and fell to negative 73 today. These indicators suggest a rally soon. SPX closed at 3,667 today. It may hold 3,600 and rise to 3,900 within two or three weeks. So, I plan to buy SPY calls on pullbacks and sell some on bounces. I expect a better trading market tomorrow.

My portfolio is at $1,530,000 including $600,700 in cash.

Calls Contracts-Shares Long

SPY Jul 375 2022 200
SPY Jul 380 2022 200
IWM 4,000 shares

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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