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Rippy Dippy Mode! Who Thought Stocks Only Go Up?
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March 14, 2024
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Gains
Discord Right/Wrongs
Last week was our best week of the year. This week was eh… We have swings that expire next week, on the 28th, and some in May.
What did we do well today?
We hedged when we saw that the intraday trend was bearish.
We entered /ES shorts at 5250 early in the morning
Closed /es contracts for a 30-point gain at 5220! Great hedge.
We also had $SPX puts that we bought at $1.4 and sold at $390.
What we could have done better?
We could have gotten cheaper prices if we had waited a day to purchase $Meta, $Nflx, and $Nvda swings.
We missed the context. The CPI was bad, and stocks went up, meaning the PPI data would likely support an increasing inflation rate.
Ignoring my levels + context. I put in my newsletter to expect resistance at 5250s. Why pick up swing positions if the index looks bearish? Index controls everything 90% of the time.
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