Weekly chart closed above the high of the low last week which predicted a really strong move this last week. The daily chart is acting like a normal up trend as well. Trailing stop is 334.52 today. I rolled the 332.00 to the 337.00 for next weeks expire. My calendar protection is 323.00 for a 3/20/2020 expire. Then along side this trade I have a Long Call which I bought last week 322.00 for 13.57 and it is trading at 17.66 currently. I have a larger account that I am running this trade in btw.
Weekly Chart Signal (CAHOL). Daily Chart stop is 30.42. Here is the trade
6 Contracts Calendar
Buy 3/20/2020 30 Put .38
Sell 2/14/2020 31 Put .33
6 Contracts Long Call (After meeting with Jim W. This is the same as a synthetic just much easier)
Buy 3/20/2020 30 Call 1.31
Above is a picture of the SPY. I am switching to the SPY because I lost more than I should have this week due to the SPY having more risk than the portfolio allows. By switching to the XLF I am able to manage this account correctly according to my rules. I will post a chart of the XLF on a weekly basis as well as this chart just to keep tracking them together.
We have Coronavirus scare coming on this week. Oil is tanking and the Fed is creating more dollars. Bearish, Bearish and Bullish. I was short at the start of the week. Tuesday I received a signal to get out of the short position. Then today Friday I saw the market moving down with lots of weakness. I went ahead and placed a surfer trade short and was able to scale half before the end of the day.
Early today 10:30 our time
Buy 2 Feb 21 323 Put 4.77 Scale half 5.67
Buy 2 Feb 21 332 Call 1.10 Scale half .90
Sell 2 Feb 21 323 Call 5.48 Scale half 4.85
Friday’s close on the daily chart indicated to get short the SPY (Conditional Change 329.27). I had rolled the Calendar trade I was doing earlier that morning and then closed it so I was hit with dat trading rules. I am conducting an experiment to take a small account of $3,250.00 and see how much we can pull in a year. So far the account has increased $240.00 which is a 7.4% increase.
Feb 18 2020 328 Call 1 Contract Sell $5.08
Feb 18 2020 328 Put 1 Contract Buy $3.89
Feb 18 2020 337 Call 1 Contract Buy $.31
This is quite a push. Maybe now that QE mini is back we will see this continue. Remember to trade what you see. What I see is that we have new highs with on balance volume well above the average. Price up OBV up means strong positive delta trading. I will explain what this means soon in a video.
I am out for a little while. I had Hip Replacement surgery this week and taking too many meds to trade. I am going to try again to get this up to speed. Pretty simple read at this time. I am looking to buy a few long puts with the idea of a pull back.
Swing trades…Stopped out of XLU and XLE. Took a loss on the XLE trade. The XLU was a very nice win. Day Trades…Binary trades had one win 2 minute and 1 loss 5 minute.
Traded 2 of the 20 minute binary trades 15.00 per with a loss. Traded another strategy off of the 2 minute chart for a win 57 cost and a 43.00 profit minus fees. No 5 minute chart trades today. XLE has still not stopped out. XLU is down to a runner still, seems to of found a sideways channel to take a break in. I am just below it with a stop.