BULLISH EOM & EOQ --- Bears ready to pounce....

Maybe TOO MANY bottom-pickers!

https://www.forbes.c...omes-the-bottom

XBI has been one of my worst trades in 2022

Trying to bottom here but I may not wait, will take a small loss on any rally this week, unless it can turn green for me 

Will close ARKK CALLS -- these CALLS have been very profitable for me 

Maybe TOO MANY bottom-pickers!

 

https://www.forbes.c...omes-the-bottom

What kind of trash trend line was that guy using? lol 

Whew after holidays always hard to get going.  Maybe its actually because we actually saw the sun yesterday and it was warm too!!  Actually took out my motorcycle to tennis lol!!  Did buy a little on Sunday when the market was down bringing my long down to an average of 3782...  Btw still have my longer term hold for the ndx at 11,500.  Everyone is scaring me that there may be a rally this week but it is a new expiration cycle and we've been down pretty hard. Maybe people are just tired of it going down and its nice out so people are forgetting about the market and enjoying the sun, something I want to do more.  Maybe if the market is tracking bitcoin at all it did get down to the 17,000 level over the weekend and has been rallying since so maybe that's it.  One thing I do know is that volatility will likely remain as its not going to be a V shaped move and more grind grind grind is coming eating up the premium on my newly sold July put options from last week and if we rally enough this week I'll look at some calls to sell.... 

Well there's a nice bounce to start the day, profit stop my ndx long trade at 11510 and will buy below for a rebuild....

Maybe TOO MANY bottom-pickers!

 

https://www.forbes.c...omes-the-bottom

"In short, my best guess on the bottom of the S&P 500 is 3,500."

Is that guy reading my posts here?

Haha, don't think so everyone is calling for 3500, way to obvious in my view, a bounce can happen from anywhere around here. 

Haha, don't think so everyone is calling for 3500, way to obvious in my view, a bounce can happen from anywhere around here. 

Here is the real truth....NOBODY KNOWS!

We may have already seen the bottom for 2022, or it could go much lower. 

You are doing the right thing, trading ST moves.

And you can have our sunshine from Florida. It has been sunny, hot and humid most of the time here.

Hardly any rain. My water bill to keep lawn green is ugly.

Closed the last of 10 ARKK CALLS  -- a 100% ST trade since ARKK is not a BUY & HOLD for me. 

Closed about 40% of all UVXY CALLS, will hold remaining. 

Closed ONLY 10 each SPY & QQQ CALLS - that's just above 10% of my HUGE HOLDING; still holding all 5 ES & NQ HEDGE SHORTS. Will continue to do so until I close all CALLS of ETFs & STOCKS

if ES trades above 3820 on this rally I will close ALL POSITIONS -- with a projected 3 to 4 % net account profit

If ES collapses from today's high then I will close all positions below ES 3680  - with an estimated 1 to 2% net account loss. Could be less if I am actively trading during night session. 

So, that's my plan for rest of June, then a 2 to 3 week vacation....