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Next Week Trading (Jul 30th):

 
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PostPosted: Sat Jul 30, 2022 6:07 am    Post subject: Next Week Trading (Jul 30th): Reply with quote

Next Week Trading (Jul 30th):

SPX closed the week at 4,130, between the 50 day EMA at 3,966 and the 200 day EMA at 4,188. A period of consolidation is likely next week after the run up, e.g. with 100 point swings between 4,100 or 4,050 and 4,200 or 4,150. AAPL may trade between 155 and 165. BABA reports earnings Thursday, its RSI is near oversold at 31, and although it may fall lower, it will become more volatile. So, I'll be looking to buy SPY and AAPL Aug puts and more BABA Aug calls to trade, to make up for last week's losses. However, inflation hasn't improved much. Therefore, the stock market is substantially overvalued. A hard landing is very likely to break inflation.

My portfolio is about $1,730,000 including $1,351,400 in cash.

Calls Contracts-Shares Long

BABA 2,500 shares
BABA Aug 90 2022 30

Puts Contracts-Shares Short

SPY Sep 410 2022 70
SPY Sep 420 2022 20
AAPL Sep 160 2022 30
AAPL Oct 160 2022 20

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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