You bought a vertical not so far off from what I sold (4970/5000 SCV). I made it out with max profit, but just by the skin of my teeth… while you made a crazy one day return. You made an excellent trade.

Was it (mainly) a technical signal or something like moneyflow that led you into that trade?

quote:
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.

I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.

In an investment account, I pulled the trigger a bit early on some longer dated SPX short call verticals. But I do agree that with these rather extreme recent moves upward, I still see that as the correct directional play. But with the VIX still relatively low, I’ve been looking to take a page out of your long playbook for awhile.

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Posted by thatguy777

Member since Feb 2007

2393 posts

Posted on 2/3/24 at 3:44 pm to Jag_Warrior

It was mainly the fact that the market sold off after Powell Wednesday and I knew things would ramp up into big tech earnings Thursday evening and from all of the flows id seen plus the technical set up on some of those stocks I was leaning hard that those stocks would have great earnings reports. Plus the fact we are so close to 5k I felt the market just wanted to see it. Didn’t get quite there but we prob get it next week. I was able to get pretty good screen time last week and that always helps me make decisions easier. Wish I could sit at a computer more than I do and watch these things.

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