S&P 500 futures is trading below 10 days moving average (MA). As it has yet to close below 50 days MA, it is still healthy although the volatility has been increasing since late January 2018. With Trump’s first bomb Continue reading “Weekly Review (Stock, Gold, Crude Oil markets) & Bonus Stock IQIYI”
Another greatest event is going to happen and the world is watching closely the US presidential election, 10 days away and would it be Hillary or Trump? I have no idea but what has been the most dramatic moment is the development of the event which is unprecedented in the US history. It begins with the nomination of Trump to the re-opening investigation against Hillary. Continue reading “Another biggest movement since Brexit!”
When there is a market event, a lot of traders are keen to speculate their views by trading directionally with the hope that if their are right, they can make a good fortune. Brexit/Bremain was a key event and the whole world was watching it. I was also following this event pretty closely to ensure that my position was well protected before entering the uncertain Friday.
Before this historic Friday, the odd of Brexit was pretty low. Not many people (even expert) would think Brexit will happen. As a result of this, S&P rallied with GBP while US treasury bonds and Gold plummeted few days before the polling day. I decided to hold my few SPY long put positions (bearish view) as I believed SPY had already price-in Bremain. My view was that if Bremain, market should have limited upside move (since it was already price-in); however if Brexit, market should crash because of the unexpected/surprise. In other word, the risk of buying SPY did not warrant the reward on the day prior the polling day. I was also ready to absorb losses of all my premium paid if I was wrong. The unexpected result on Friday did turn out to be favorable to me. I reaped over few hundred percents return (not much though in absolute amount) and I exited all my straight long put positions on Friday.
As I am currently business traveling in Taiwan, Elite bookstore has become a must go place for me especially in this summer when outdoor activities may not be a great choice. I discover that there are a lot of books translated from japan to mandarin. One of it is candlestick technical analysis, which was originated in Japan and promoted to the western world by Steve Nison. I found a lot of great books that explains candlestick in detail, which has become my material to further strengthen my technical skill in trading the market.
My portfolio is growing strong in June and I will share more in detail when I have the chance. Have a great evening!
Sell in May and Go Away. If you are bearish and you would like to execute this trading idea, there are several methods you can use. In this post, I will reveal two frequently used methods to ‘short’ the market. However, if you are unsure, stay calm and do nothing! A lot of time, doing nothing can save us a lot of money!
We are currently in earnings session and over the past few weeks, earnings news streaming in everyday and those who trades earnings should enjoy adrenaline rush. What if you have bought a Put (betting the stock price down) on Google shares? You should be laughing to the bank. What if you have bought a Call instead? You may have lose all your premium paid!
Continue reading “Earnings, to trade or not to trade? Part 1”
I was in Seoul, Korea over the last few days. It was a great trip except I strained my leg after walking almost half a marathon distance in a single day to cover few significant spots in Seoul.
Continue reading “Korea and Price Arbitrage (Part 1)”
As mentioned in one of the previous post, my view of the market is short term bullish and long term bearish. Base on Fibonacci retracement, $204.5 should be the next critical resistance level for SPY. However, FOMC meeting on Wednesday will decide the direction of SPY.
I have few great conversations with few of my readers over the week and I would like to share my thoughts here. I will also provide an update on my existing positions; 1 outstanding XLE and few trades opened yesterday while I was sleeping.
I did an adjustment last night against SPY & WYNN as SPY breaks above 195 decisively and rallies all the way to form a long white candlestick.
Continue reading “Quick update on XLE, SPY & WYNN”
There are few open positions which I would like to comment:-
Continue reading “Weekend update on XLE, SPY & WYNN”