Week of May 8
Post FOMC - do we finally break out of 4200?
Recap of last weeks action:
I was bearish right from the Sunday open last week, and we basically went down in a straight line, as my directional bias was proved correct once again.
The 1 live trade idea I gave was hugely profitable.
Now if you have been reading my substack for a while, I recommend options very rarely, I believe in trading like a sniper. Waiting, waiting, waiting for just the right moment and when I see it, I take my trade with a precise as possible entry and hammer it with size/leverage. Contrast this with how many other do it, which is take 10+ trades a day and throw shit at the wall and see what happens to stick. So when I recommend an options play, they are high conviction, minimal drawdown, and solid winners. This was no different.
Told my subscribers to buy these puts at the open, which was 1.41. They were 4-5 baggers. I even told you when to close them exactly, which was right at the lows of the week. Should have gotten filled for 6.40+.
I always leave a couple runners (stops in profit) because you never know how far a move will go, but I myself secured 4x on my trade and most of you guys should have as well. That should pay for my sub fee for literally 10 years even with just a couple thousand risked on the trade. When I closed my puts also happened to be the bottom for the entire week.
We rallied again to end the week and now we are close to knocking on that 4200 resistance again, is this the week we break through?
Next move for markets?
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