Trading A Topsy Turvy Market

Posted by Joe Duffy | Jan 19, 2024 | Joe Duffy's Trading Advantage | 0 |

Couple things that I did Thursday. First I closed the CISCO short. The stock only moved about 1% against me, but I don’t polish the pits, and I have held this one long enough. AND I think the stock market has a better tone, and is likely to move higher. The second thing I did was I bought TLT, the bond ETF. Took call options with plenty of time. Anything 94.00 or less looks like a good buy in TLT. I still like DIsney, but I think Thursday was the buy back day and I missed it. I would add a Pepsi long around 167.00.

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Overall my bearishness over the last 2 or 3 weeks made me money, but I am now out of all shorts. It appears the worse the world looks, the worse the domestic situation looks, the better the stock market looks. It is a crazy time, but gotta believe what I see…. and right now I don’t see lower.

Thanks,

Joe

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Joe Duffy

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