Two alerts fired today in the Discord, and I got into some good positions mid-day. Markets were looking as if we would have a good, green day, however inflation jitters came back a little after the CPI data came out.
"Concerns over the pace of the economic recovery were back in focus on Tuesday with the release of hotter-than-expected print on consumer price inflation, which registered the fastest annual increase since 2008 and suggested stubbornly high prices could derail the recovery. The 10-year Treasury yield moved higher following the report to break back above 1.4%."- Emily McCormick
"This inflation is transitory, and it will begin to pull back as we move towards the end of the year," Brent Schutte, Northwestern Mutual Wealth Management chief investment strategist.
Most economists think the inflation is transitory which means that it is high right now but will only be temporary; things will even out. Of course, what would one expect? Coming out of a year long lock down across the world and consumers have a lot of pent up demand while producers can't keep up. Supply chains are suffering in some regards. I agree with this sentiment, and for once, I agree with the Fed and Powell.
Alerts that Fired Today
$BIDU broke through the trend line and I picked up some $200c a for September. I'll probably be taking profit around the 180MA.
$COIN also fired today as it pulled back down to the 50MA. No options for me here. I like DCA in commons because I see this as a long term hold for crypto exposure. LEAPS will work the same if you want a bigger, cheaper position. Try to get a Delta around 65-75.
Current Weekly Positions
$NAIL -14% (Ongoing Swing Trade) I will DCA more into this position
$DIDI +$550 (Sold Put) +86%
$BIDU -1.6% (Calls)
$COIN -1.2% (Shares)
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