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Joined: 28 Dec 2005 Posts: 11958
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Posted: Sat Jan 01, 2022 11:45 am Post subject: Next Week Trading (Jan 1st) |
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Next Week Trading (Jan 1st):
SPX closed at 4,766 Friday. New money will flow into the market. However, it may wait for a pullback. End of year window dressing likely skewed many stock prices. SPX is a market cap weighed index and five stocks, including APPL and MSFT, have been holding it up. There may not be much buying above 4,800 short term, until a pullback to 4,700 or 4,650? Anyway, I plan to trade only VXX and BABA calls. VXX should hold 18 and rise at least two points. BABA was down all year from 300 and may rise over 20 points short term.
My portfolio is about $475,000 including $172,000 in cash.
Calls Contracts-Shares Long
VXX Feb 20 2022 500
VXX Mar 20 2022 300
VXX Mar 22 2022 300
BABA Mar 120 2022 20
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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