June 3, 2022
Intraday Update: QQQ, SPY
TEST Up big one day and down big the next. If it hadn’t happened so frequently lately, it would be hard to believe. Another whiplash 24 hours of trading is leading to QQQ and SPY sharply lower, with many stocks sliding along with them. Interestingly, there haven’t been any targets or stops hit on today’s move, so we are being patient and letting the open trades develop. I mentioned in yesterday’s letter that we would be adjusting the QQQ and SPY hedges before the CPI reading next Friday, and we may move up the timeframe on that if they start to lose the key 8day ema level.
Open Positions
* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under “Trader Author Portfolio Holdings.”.
Trader Author Portfolio Holdings
**As of the date and time of publication
