Trading is different then analysis. Managing the trade is infinitely more challenging than “calling” the trade. The market pays out on actual entries and exits, to state the obvious, but still something that needs saying. For instance last week on Wednesday I said that the SPY March 01 503-509 call spread at $3.00 was attractive and it was available under that level on Wednesday, actually closing at $2.90. It would widen to $6.00 if the SPY would close above 509 on Friday. The SPY actually closed above 512! Easy-peasy right? Not so fast says the market!   I actually took a modest 70 cent profit per contract on Thursday, because the market forced my hand intraday to act to make sure I avoided a loss. This is the daily video I send to my KeyPoint readers that explains it. Check it out:

Let an ex-Wall Street Insider do your homework for you. Use Joe Duffy’s uncanny market analysis to spot trades again and again. Check it out here

After I got out the market went down further seeming to vindicate the decision, then reversed sharply and steam rolled ahead doing exactly what I wrote it would into the end of the week. Easy to take credit for the “call”, but trading is a whole different thing. But the 22% gain is still good in my pocket for a 2 day trade.

Into this week, I think the market is very close to pulling back. I would not be long. I have a couple shorts via June puts in PYPL and ARKK.