Oh, man! I had a pretty solid week of trading and put-selling last week - up 114bps on the week if I count my puts and day trades. That's pretty epic. And I'm very heavily in cash right now - so don't need the market to open up on Monday to try to do it again.
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This week is a short week for trading given it's Thanksgiving week. So the market will close early on Wednesday, be closed Thursday, and close early again on Friday. Actually, it might be open a full session on Wednesday...
Anyhow, I think the way I've been trading - with buying a stock or two that gaps up right away in the morning as my first trade or two then making a bigger, index trade in the afternoon is a good strategy for me. It seems that a company or two is always gapping up - and I just need to make a quick 1-3% on a trade to be successful. I don't need a trade like I had on Friday where I caught a 12% up move and it could have easily been 20% had I really got out at the wave's crest.
Selling puts is an easy way to usually make money. So I'll keep doing it when it makes sense - that is when I can earn enough return 0.5%+ with decent protection - 8-10%. I'll try to find a few trades like that this week too.
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Performance:
U.S. Indices
Dow -0.7% to 29,263. S&P 500 -0.8% to 3,558. Nasdaq +0.2% to 11,855. Russell 2000 +2.4% to 1,786. CBOE Volatility Index +2.6% to 23.7.
S&P 500 Sectors
Consumer Staples -0.8%. Utilities -4.0%. Financials +1.4%. Telecom -0.4%. Healthcare -2.8%. Industrials +2.0%. Information Technology +0.1%. Materials +1.2%. Energy +5.5%. Consumer Discretionary +0.4%.
World Indices
London +0.6% to 6,351. France +2.2% to 5,496. Germany +0.5% to 13,137. Japan +0.6% to 25,527. China +2.% to 3,378. Hong Kong +1.1% to 26,452. India +0.6% to 43,882.
Commodities and Bonds
Crude Oil WTI +5.8% to $42.44/bbl. Gold -0.9% to $1,869.8/oz. Natural Gas -11.2% to 2.661. Ten-Year Treasury Yield +0.3% to 138.52.
Forex and Cryptos
EUR/USD +0.19%. USD/JPY -0.73%. GBP/USD +0.75%. Bitcoin +17.8%. Litecoin +32.1%. Ethereum +11.9%. Ripple +28.2%.
Dow -0.7% to 29,263. S&P 500 -0.8% to 3,558. Nasdaq +0.2% to 11,855. Russell 2000 +2.4% to 1,786. CBOE Volatility Index +2.6% to 23.7.
S&P 500 Sectors
Consumer Staples -0.8%. Utilities -4.0%. Financials +1.4%. Telecom -0.4%. Healthcare -2.8%. Industrials +2.0%. Information Technology +0.1%. Materials +1.2%. Energy +5.5%. Consumer Discretionary +0.4%.
World Indices
London +0.6% to 6,351. France +2.2% to 5,496. Germany +0.5% to 13,137. Japan +0.6% to 25,527. China +2.% to 3,378. Hong Kong +1.1% to 26,452. India +0.6% to 43,882.
Commodities and Bonds
Crude Oil WTI +5.8% to $42.44/bbl. Gold -0.9% to $1,869.8/oz. Natural Gas -11.2% to 2.661. Ten-Year Treasury Yield +0.3% to 138.52.
Forex and Cryptos
EUR/USD +0.19%. USD/JPY -0.73%. GBP/USD +0.75%. Bitcoin +17.8%. Litecoin +32.1%. Ethereum +11.9%. Ripple +28.2%.
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Earnings Calendar:
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So that's where my head's at this week. A continuation of my gap trading strategy with puts and index trades in the mix too. And hoping to keep making 10-20bps a day!
Also, Donald Trump still hasn't conceded the election and that bothers me - as it should you. But we'll talk about that sometime...
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