2.16 Market Plan

OPEX & Data Day

The data this morning was a non-event for the markets and the tape on most names was slow which is usually the case ahead of monthly OPEX. Tomorrow is a really heavy data day all morning then some Fed speakers yapping as well.

Without $5012-$5020 breaking there’s no cause for concern for S&P500 but upside at $5080-$5090 might be an issue and pending this data driven day tomorrow we might just press. To be clear, I don’t have trades on for that - not how I operate just giving commentary to where we are on the ES/SPX.

SCHW 0.00%↑ - This was a big trade for me last year after SVB and this is strong and in the AST Alert portfolio. I added some today to the books and if we close above $67s this week it’s positive technically.

TSLA 0.00%↑ is having a week which is a positive after two weeks ago and the shakeout. You always see degenerate betting on that stock and two weeks ago the weekly options volume (multiple strikes) was 100K + only to get shaken out by the market makers. Everyone is making Citadel and Kenny richer while simultaneously saying it’s rigged but still doing the same thing; gambling on weeklies - retail trading at its finest!

Crude Oil - What a week here. This is and has been my favorite theme for Q1 - everyone is in tech and good because it made money but so is energy. EOG 0.00%↑ which is in the Swing Monitor is having a hell of a week and I added to that today. The share buybacks in energy are not stopping - these trades just take time, perfect for the 60-90 day trading windows to manage a portfolio.

I sold a little premium for OPEX yesterday - cut it and sold some today but the reality is I don’t like that strategy. It’s too much risk for the reward v. just trading quality equities long/short but in certain situations the vol is just too high not too.

In The Premium Video Tonight I Cover:

• S&P500/Nasdaq/Crude Analysis

• Thoughts on SMCI 0.00%↑ and trade selection

• BABA 0.00%↑ notes

• TSLA 0.00%↑ notes and target updates

• Quick notes on DHI 0.00%↑ and XHB 0.00%↑