The April Fool
Buckle up, because this week is going to pound you in the face, absolutely non-stop! Tomorrow, you will hear all about the “JPM collar” and SPX 5565. I never trade off of random positions, even if it is a quarterly collar of massive size. The goal of the collar is for their fund to not lose money. They do this buy buying and selling SPX. Why does this collar even matter? Because you will hear some say that when the collar rolls tomorrow the market will fly. Again, I don’t trade off random hedge positions and I don’t trade what people “think”.
We stick to charts. The only thing at the end of the day that YOU can judge ON YOUR OWN with YOUR OWN EYES. If the trade isn’t there, we practice patience. You will need it this week.
Tuesday we get manufacturing numbers, along with the JOLTS report.
Wednesday brings us to the latest “Tariff Day” on Donny’s magical calendar(no, it is NOT liberation day in any way). Another day where you have everyone spouting their predetermined opinions. Either the tariffs are “priced in” (this is a bullshit term - the next person that says this, ask them what it means. They won’t be able to tell you) or the market is definitely going to dump.
What do we do? STICK TO THE CHARTS!!
Thursday brings more data, including imports and exports. And that sets us up for Friday, where we get the unemployment numbers followed by Daddy Powell speaking at 11:25 am (AGAIN, you will hear people predicting “emergency rate cut”…PRIME SAYS CHARTS!)
ON TOP of all of that, Trump has spent his Sunday blasting out more ridiculous and inflammatory messaging, including:
He has not ruled out a 3rd term
He will bomb Iran if they don’t agree to nuclear deal
He will not rule out taking Greenland by force
And a whole lot more.
Basically, we are now living in the middle of CRAZYTOWN! This week could be very overwhelming, so make sure you stick to the Stack and we will come out ahead like we do every single time! Don’t forget to set your levels and alerts on the Bonus Picks!!
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My Charts
Over Green line = Entry for Calls
Under Red line = Entry for Puts
Dotted or Solid Blue line = Price Targets
Purple line = Dark Pool
Blue Boxes = Demand Zones
Red Boxes = Supply Zones
Price targets are not the same as option strikes.
Price targets are where I believe the chart can/will go.
The strikes I suggest are what I think provide the best risk/reward to make money.
Let’s BANK!
TLT
TLT 0.00%↑ in the middle of this 4 hour bull flag. Bonds have traditionally been strong, but with the weakening of world relations and the strength of the dollar, those days may be numbered. We are buying some time on this one, and here is what I’m thinking.
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