SPY: Next Monday's Low Would Be a Good Entry for LONG
Hello everyone! Today i want to share some trading ideas with you!
1
6480--here we are! $SPDR S&P 500 ETF Trust(SPY)$
1, told you that I loaded my small option day-trading account with 4/6 & 4/10 SPY puts--I drew the roadmap ystdy, and told you where I entered the trade.
2, will set up trailing stop and hard stop at open--most likely an "easy double"--as I used to say.
GLTA
Busy Trading Session:
(1) a trending day with key levels to watch;
(2) will get to my 6450 zone mid-day, and expect a small rebound in last hour or so;
(3) the long weekend may usher in a totally different war picture--ground troop joining the conflict, will keep some 4/6 puts.
Out of HALF positions at open with trailing stops.
Added some 0dtx SPY puts as well. $70K profit in one trade, but it is based on 30+ years of experiences and judgment, both in stock market, and in geo-political front.
Good job, MPW.
Hope you took advantage of this setup too.
Out of 90% positions.
Very strong resistance at BLACK TRENDLINE [6510-20]; and I bet the rebound would stop here and lower low ahead--check the Red Wave.
Added some 0dtx SPY puts here--using the house money.
Won't check back the market till afternoon.
2
Wow--the reversal!!
It looks like a green Thursday is possible--that is the beauty of stop setups. Even with a 100+ point gap down, I set up stops for my main positions. Now, profits are taken, no worry.
As I wrote earlier, I believe 3/30 low at 6316 will hold, for a while.
3
$SPDR S&P 500 ETF Trust(SPY)$ Future Chart:
(1) Spy futures dipped to 50% level of retracement, satisfying a W-2/B move.
(2) the orangle line is strong support and DMA200=6600-20 is strong resistance.
(3) expect wide consolidation to digest news --next Monday's low would be a good entry for LONG.
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