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Next Week Trading (Jan 21st, Updated)

 
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PostPosted: Fri Jan 21, 2022 1:40 pm    Post subject: Next Week Trading (Jan 21st, Updated) Reply with quote

Next Week Trading (Jan 21st):

I stated yesterday, SPX may trade between 4,450 and 4,550. However, it traded between 4,395 and 4,495 instead, closing at 4,398. And, I expected a rally into the close and got a sell-off instead. I still expect volatility, but SPX may trade between 4,250 and 4,500. Perhaps, the Fed announcement Wednesday will cause a relief rally. I basically plan to trade only QQQ and SPY Feb calls, and may buy puts near SPX 4,500, next week. Many technical indicators are at very oversold levels, including the daily NYMO at negative 86. I think, QQQ can easily rise over 10 points next week.

My portfolio is at $660,000 including $524,900 in cash.

Calls Contracts-Shares Long

QQQ Feb 360 2022 20
QQQ Feb 370 2022 200
BABA Jun 125 2022 10
VERU 4,000 shares

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.[/b]
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