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Jan 13th Trading Log (Fri Trading Plan)

 
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PostPosted: Thu Jan 13, 2022 3:47 pm    Post subject: Jan 13th Trading Log (Fri Trading Plan) Reply with quote

Jan 13th Trading Log (Fri Trading Plan):

Many technical indicators suggest the downturn will continue tomorrow, e.g. SPX below its 50 day MA with RSI below 50, doji yesterday, and bearish MACD. Also, NYMO falling only 6 points to 12 on a SPY 6 1/2 point and a QQQ over 9 1/2 point drop, and neutral Fear and Greed index at 48, suggesting plenty of downside room. However, JPM C and WFC report earnings tomorrow and a monthly options expiration is next week, which tend to be more volatile and slightly bullish, and plenty more earnings reports. SPX held 4,650 today, while it couldn't break above 4,750 again today, like yesterday. Perhaps, SPX will fall to 4,500 sooner rather than later this month or next. I plan to trade only VXX and BABA calls, unless IWM falls below 212 to buy calls.

My portfolio is at $590,000 including $428,100 in cash.

Calls Contracts-Shares Long

VXX Mar 18 2022 170
VXX Jun 20 2022 170
BABA Jun 125 2022 10

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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