$SPX Trading Bible

$SPX Trading Bible

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$SPX Trading Bible
$SPX Trading Bible
Week of August 5

Week of August 5

Insane Bear Market Volatility

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Frank
Aug 04, 2024
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$SPX Trading Bible
$SPX Trading Bible
Week of August 5
6
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Recap of last week

The Nasdaq is down over 10% from the highs, SPX around 7%. We are way ahead of the ball game as on July 15 we went risk off and closed all of our open longs. We avoided almost all the bloodshed and have all the opportunity in the world to catch the ferocious rally when the market bottoms.

We hedged up when SPX was 5650, and are unphased and poised to pounce at the right moment once we sniff out the bottom.

Not only did we short SPY calls, we had SPX puts AND a juicy TLT long that cushioned the small drawdown we took on our longs.

Next move for markets

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