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Joined: 28 Dec 2005 Posts: 11983
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Posted: Tue Mar 03, 2020 2:20 pm Post subject: Mar 3rd Trading Log (Wed Trading Plan - Updated) |
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Mar 3rd Trading Log (Wed Trading Plan):
The daily NYMO closed three points lower at negative 88. The Fear Greed index is back down to 10 out of 100. Although, SPY closed nine points lower, there may be enough volatility again and an upward bias to buy SPY March calls on dips and sell on bounces for significant gains. I plan on trading SPY calls, and perhaps calls on oil stocks, e.g. SLB or OIH.
My portfolio is at $230,000 including $172,200 in cash.
Calls Contracts-Shares Long
SPY Mar 300 2020 10
SPY Mar 310 2020 100
SLB Apr 32.5 2020 200
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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