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Next Week Trading (Apr 15th)

 
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PostPosted: Fri Apr 14, 2023 11:28 pm    Post subject: Next Week Trading (Apr 15th) Reply with quote

Next Week Trading (Apr 15th):

SPX closed the week at 4,138 and QQQ about 319. Inflation will likely be sticky at 4% to 5%. So, the Fed may hike one more time and leave Fed Funds Rate above 5% for a while. A recession is most likely, to test SPX October low at 3,500. However, technical and sentiment indicators are bullish. A short squeeze may send market higher before falling, including during earnings season this month. I'm watching more than playing the market. However, if QQQ rises to 330 this month, that may be an opportunity to buy a large position in puts. Anyway, I've been cautious this year after two years of big gains and a big loss a year before that. I'm waiting for a better opportunity to make a large trade.

My portfolio is at $2,810,000 including $2,692,200 in cash.

Calls Contracts-Shares Long

BABA 1,000 shares

Puts Contracts-Shares Short

QQQ Oct 330 2023 10

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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