IT'S MAY, sell and go away!

Was just updating my average to 4198, profit stop went in at 4195 for a 3 point profit start selling a build above! 

Well that was fast, seems volatility is back, short at 4200! 

 

Closed ES HEDGE LONG +29.5 points, will add extra lot to NQ LONG DAYTRADES until ES hedge long is reopened later

Last week was much better, small profits but good intraday swings made ST trading much more profitable

 

Want to build a much bigger SHORT position in RISK & LT Portfolio in if it rallies to new ATHs

 

 

56 SPY PUTS

9 VXX CALLS

290 VXX LONG

 

1 ES HEDGE LONG  4167.25

1 NQ HEDGE LONG 13980 

I closed all futes for now in premarket. 10am PMI, lets see if good news is still good news, or they get spooked about a market too hot. (JBad news

Bad news, reports underwhelm. they buy the TNX and yields head down, NDX got a bounce. But with rates declining you would expect to see a big bounce in the RUT, but Fridays numbers and inflation fears keep the action subdued. (JMHO)

Sell in May and go away will work.

Posted 30 April 2021 - 01:05 PM

My FF for coming Monday: SPX goes up 30 points, believe or not ............

I posted it last Friday.  Today bulls are back in the control and it's likely to end the day up 30 points ..........

Edited by redfoliage2, 03 May 2021 - 09:46 AM.

For now profit stop 4195, sell above again....  Nasdaq down now interesting! 

Gonna move it down to 4190 and start a new short build from there! 

For now profit stop 4195, sell above again....  Nasdaq down now interesting! 

Looks like just some back filling of the gap to consolidate and then to move higher.  Internals very strong today expect NYMO goes into positive land ....................

Edited by redfoliage2, 03 May 2021 - 10:27 AM.

Out for a 10 point profit, interesting.... we'll see what happens from here, seems heavy and volume is drying up fast so maybe could see another push up!