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Next Week Trading (May 10th)

 
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PostPosted: Fri May 10, 2019 12:57 pm    Post subject: Next Week Trading (May 10th) Reply with quote

Next Week Trading (May 10th):

SPY fell to my target in the low 280s, hitting 282 1/4, and closed higher, rising above 288 1/2 in after hours. The market moved much faster than I expected. Perhaps, SPY will trade between the low 280s and the low 290s short-term. It may be best to be heavy in cash, because a 5% to 10% correction or more within the next few months is much more likely than a rise to new highs. I’ll be watching recent stocks I traded for opportunities.

My portfolio is about $740,000 including $380,700 in cash.

Calls Contracts-Shares Long

GE Jan 10 2020 200
OIH 20,000 shares

Puts Contracts-Shares Short

SPY Sep 290 2019 20

Portfolio at $100,000 on Mar 1st, 2018. Portfolio stop loss raised to $500,000. Stop loss will be strictly enforced and extreme caution will be taken if triggered to avoid large losses and preserve capital in "irrational" market periods.
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