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Joined: 28 Dec 2005 Posts: 11987
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Posted: Fri Jun 02, 2023 1:57 pm Post subject: Next Week Trading (Jun 2nd) |
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Next Week Trading (Jun 2nd):
QQQ closed at 354 1/2. Its daily RSI is 76. So, although QQQ can continue to rally, it'll very likely take a breather, along with APPL and MSFT, given they have high RSIs and are extended above MAs. QQQ may trade between 347 and 356 next week (reached a high of 355 3/4 today). AAPL and MSFT may be in similar trading ranges. So, if those stocks open high Monday, I'll buy more puts. If I make big gains, I may take a break from trading to see how high those stocks may go before coming back in.
My portfolio is about $2,505,000 including $2,090,400 in cash.
Calls Contracts-Shares Long
None
Puts Contracts-Shares Short
QQQ Aug 360 2023 100
AAPL Aug 180 2023 200
AAPL Sep 180 2023 200
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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