Good afternoon everyone, as you know the market is having a good
day - in last night's newsletter I favored an upside move in the
market and we are targeting this 4220 area. I discussed the
recently consolidation as a wave iv and leaned to an upside move
for a wave iv.
However on the reversion to mean system side of things, another
one of the SPY systems is taking a 1st entry short today, the Hi,
Mid Low sub system. That will make 3 of the sub systems in
1st entry shorts. My job is to communicate what these 40 sub
systems are doing. You do what fits your risk profile and strategy.
Should the market go to those higher levels, these systems may end
up taking 2nd or even 3rd entries. The reversion to mean
systems are mutually exclusive to our subjective technical
analysis.
For the trade I'll show 10K SH ETF and 1 SPY PUT option with 434
Strike price expiring on Aug 19th
The other two systems are taking 2nd entries: for these we'll
show $10K of SDS ETF and 2 SPY Put options 430 strike expiring on
Aug 19th
the ES system that has the short is no looking to take a 2nd
entry - remember that one filled quite a bit better than the others
because ES was trading up strong in after hrs last Friday over the
SPY cash, so it got a good entry and not yet looking for a 2nd
system trades - I'm emailing this out
Posted by matt on 2nd of Jun 2022 at 04:03 pm
Good afternoon everyone, as you know the market is having a good day - in last night's newsletter I favored an upside move in the market and we are targeting this 4220 area. I discussed the recently consolidation as a wave iv and leaned to an upside move for a wave iv.
However on the reversion to mean system side of things, another one of the SPY systems is taking a 1st entry short today, the Hi, Mid Low sub system. That will make 3 of the sub systems in 1st entry shorts. My job is to communicate what these 40 sub systems are doing. You do what fits your risk profile and strategy. Should the market go to those higher levels, these systems may end up taking 2nd or even 3rd entries. The reversion to mean systems are mutually exclusive to our subjective technical analysis.
For the trade I'll show 10K SH ETF and 1 SPY PUT option with 434 Strike price expiring on Aug 19th
The other two systems are taking 2nd entries: for these we'll show $10K of SDS ETF and 2 SPY Put options 430 strike expiring on Aug 19th
the ES system that has
Posted by matt on 2nd of Jun 2022 at 04:15 pm
the ES system that has the short is no looking to take a 2nd entry - remember that one filled quite a bit better than the others because ES was trading up strong in after hrs last Friday over the SPY cash, so it got a good entry and not yet looking for a 2nd
I like getting some hedge
Posted by fundamentalvalues on 2nd of Jun 2022 at 04:11 pm
I like getting some hedge here again, I took a first entry position via SPXS after hours when it flashed a new low print for the day at $20.69.