Lyin’ Pols & Pullbacks

Hey There Shoppers,

 

The evidence is mounting …


I think the market will trade lower by Friday.


Here are several charts pointing to that move.


I am seeing a doji at the top of an uptrend in S&P 500 (Ticker: SPX) …

 

 

There is also a doji at the top of the uptrend in the E-Mini S&P 500 Futures (Ticker: ES) …

 

 

And finally in the SPDR S&P 500 ETF (Ticker: SPY) …

 

 

I think this will be a quick move lower — so I’m looking at a SPY put spread in the Apr30 cycle, expiring Friday.


I like buying the Apr30 417.50/412.5 put spread paying $1.30.

 

 

I will buy this spread on a lower opening this morning. I will take my loss if the spread trades down to .90 cents.


I will begin to take profits at $2 and above.

 

Trade Review


During our mentoring day on Thursday, I recommended two trade ideas and have recently sent out two trade ideas:

 

        • Xpeng (Ticker: XPEV): May21 32.50/40 call spread paying $2. It is down a tad but I am keeping it.
        • Oracle (Ticker: ORCL): Buying the May21 75 puts paying $1.20. These have traded up to $2 and closed yesterday at $1.40. I am still in.
        • Peloton (Ticker: PTON): I paid $2 for the Apr30 102/108 call spread. This spread has traded up to $2.66 and closed at $1.80 yesterday. The chart is still intact; I am still in the spread.
        • PepsiCo (Ticker: PEP): May21 145/140 put spread for $1.30 was a trade I recommended, but PEP moved lower too quickly and I would have had to pay up to $1.60+ for the spread which closed over $2.10 yesterday.

Keep your eyes on these politicians, every time they open their mouths they are lying.


Thanks for Reading … See You Next Tuesday!

 

Licia Leslie

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.