Market Climb Continues–What That Means

Posted by Joe Duffy | Oct 10, 2024 | Joe Duffy's Trading Advantage | 0 |

CPI Thursday morning. Doesn’t look like the market is ready to retreat yet, so expect dips to be bought still. This is in the face of 10 out of 11 months higher and 8 of last 9 weeks higher. This will end in a sharp correction, but I don’t think quite yet. This is beginning to feel like it could accelerate into a very punishing high. Long stocks I think there is still some room to topside, little early for shorts, cash is a good position.

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I like long crude oil, and I am long Chevron CVX at 150 through option spread. Also long TLT at 97.00 and 94.50. Short Nvidia 130.50 in a spread. All of these positions have time to work. Long distance month, sell short term diagonal strikes against long term options. Strategies are explained in my daily video.

Thanks,

Joe

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Joe Duffy

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