Week of November 20
Major move on Turkey Week?
Recap of last week:
Monster week. Again.
We added leverage on that minuscule momentary dip below 4400 and that turned into a huge winner 1 day later with CPI gapping us over 100 points in a couple days. So we start off this week with the biggest trade of the year, getting giga long before the best weekly SPX performance all year. The cherry on top of that rally is we add leverage/size at 4400 and ride that to 4500+.
You guys know by now we were giga long from 4160s.
Here’s what separates bad traders from good traders and good traders from elite traders. Bad traders average losers. Good traders hold winners. Elite traders hold winners and add to them.
Despite a much lower intial entry we are not shy about leaning in hard with our winners. Pyramiding losers leads to blowing your account. Pyramiding your winners lead to massive mind-blowing gains.
Whatever happens the rest of the year we got our EOY rally. 9% is what the SPX tends to do in an entire year. We got it in 3 weeks. Now question is do you take a shot to the short side here or are we in for a further melt up.
Next move for markets?