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Joined: 28 Dec 2005 Posts: 11966
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Posted: Thu Dec 30, 2021 6:52 pm Post subject: Dec 30th Trading Log (Fri Trading Plan) |
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Dec 30th Trading Log (Fri Trading Plan):
I'll be on computer all day to trade tomorrow. Normally, I'm too busy in the mornings and only have time to set or adjust limit orders. Although, the market is very overvalued, the most reliable trades are when the daily NYMO is below negative 50, to start buying calls, and if it falls lower, buy more calls. Also, with a very low Fear & Greed index. Now, the daily NYMO is 43 with a above average (Greed) index. SPY may pullback to 4,750 or lower tommorow to sell more VXX calls and SPY puts, and perhaps buy BABA or SLB calls. If it rises, I'll add more VXX Mar calls. IWM (small cap index) has been in a mostly 210 to 235 range almost all year. Now at 223. If it falls toward 215, I'll buy calls. SPY difficult to predict. It may fall to 4,250 or rise to 5,000 by mid year. I plan to build up more cash and wait for better opportunities.
My portfolio is over $495,000 including $139,800 in cash.
Calls Contracts-Shares Long
VXX Dec 18 100 weekly 31st
VXX Feb 20 2022 500
VXX Mar 20 2022 300
VXX Mar 22 2022 300
BABA Mar 120 2022 10
Puts Contracts-Shares Short
SPY Feb 475 2022 40
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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