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Next Week Trading (Apr 21st)

 
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PostPosted: Fri Apr 21, 2023 2:53 pm    Post subject: Next Week Trading (Apr 21st) Reply with quote

Next Week Trading (Apr 21st):

SPX closed the week at 4,133 and QQQ at 316. GDPNOW shows real GDP expanding at 2.5%. So, it may be a while before the country falls into recession. Technical and sentiment indicators remain bullish. MSFT and GOOG report earnings Tuesday, META on Wednesday, and AMZN on Thursday. Those earnings may trigger a short covering rally. If so, QQQ may rise to around 330, which is likely an opportunity to buy heavy positions in August or later puts, to make gains on volatility or a substantial pullback later this year. I plan to wait and see how earnings unfold. Until then, I'll continue to buy more BABA and TLT stock on pullbacks.

My portfolio is over $2,800,000 including $2,315,700 in cash.

Calls Contracts-Shares Long

TLT 1,000 shares
BABA 4,000 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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