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Next Week Trading (Jun 3rd)

 
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PostPosted: Fri Jun 03, 2022 12:51 pm    Post subject: Next Week Trading (Jun 3rd) Reply with quote

Next Week Trading (Jun 3rd):

SPX traded between roughly 4,075 and 4,175 this week and closed the week at 4,108. The market is likely waiting to see if inflation will continue to slow for a third month. Currently, the market is overvalued with the Fed tightening the money supply, while inflation too high. So, there likely won't be much upside or a trading range will continue. However, I may buy some shares instead of calls on pullbacks Monday or next week, e.g. on ARKK BABA and TLT, which may rise several points on volatility. The best trade would be to start buying calls, e.g. on SPY, when the daily NYMO falls to negative 50, which happens frequently, e.g. five or six times a year. Currently, it's (positive) 47 after falling 32 points today.

My portfolio is about $1,570,000 including $1,569,500 in cash.

Calls Contracts-Shares Long

None

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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