Things finished a little shook up on Friday, which is an unfortunate end to a rather good week for my portfolio. This week is another big one which including an update on the Federal Reserve's preferred measure of inflation — personal consumption expenditures (PCE). Not to forget it is Amazon Prime day.
I still trust the Fed that the decade high inflation is transitory. We just got out of a once in a lifetime even (hopefully), Covid, and demand is at highs while inventories are at lows. Silver, Gold and the all mighty Bond market are signaling that it is indeed transitory. Nevertheless, watch out for a choppy Monday and Tuesday.
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PICKS FROM LAST WEEK:
$OKTA Call +25%
$ZM Put +31%
$DIA Call +0%
$V Call +30%
$NAIL Commons -12% (ong)
$GPS Commons +1.2% (ong)
$ROKU Call +10% (ong)
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$SHOP is almost at resistance, see if it holds it and I like small positions of weekly puts.
$AAPL I'd wait for a pull back to the 180MA, and then go big. Vertical spreads or calls work here back up to $130.
Waiting for set ups to trigger on the following before entering options:
"The stock market is a device for transferring money from the impatient to the patient." -- Warren Buffett.
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