Sun Oct 9
Ok, my last post droned on about how I was going to let these calls ride since they were “free” positions born from my grinder account. At the end of the trading day, I started thinking about inflation data next week and decided to pocket the decent overnight profits. TQQQ is sitting on a double bottom (from Sep 30). Any perceived inflation improvement could spark another snap rally. Core inflation on Thur is the important data. CPI is expected to slight improve with a YOY rate drop to 8.1% (from 8.3%). Core could be a problem however due to hikes in a number of non-energy services. It could lift the YOY rate to 6.5% (from 6.3%). Could chip away at the inflation peaked hypothesis. I’m going to stay small next week and go into Thur relatively flat.
Good trading!
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