ES1 Weekend Update

Futures selling off like I said it would yesterday. See the morning dip along with MFI scrolling down on futures charts.

When MFI goes oversold, buy some calls in whatever moves with futures. I liked AAPL and SQ but both are overdone now. MSFT might be better than AAPL now.

Of course the other obvious play is to buy index calls, SPY or QQQ.

But that's for next week.... hopefully the algo sell futures into Monday and we get a repeat of this week. Easy play to buy calls on Monday when MFI goes oversold.... for Ponzi Tuesday.

Cleared out all of earnings plays for this week, a little profit. Not my best week, but can't complain as long as I make money. Yesterday threw me for a loop, bet on some wrongs stocks (some went up and some tanked), also got hosed by DDOG.

Comment:

Almsot all cash, WMT calls and RGR puts for earnings next.

I'm expecting a light afternoon selloff, maybe try some puts on something after lunch.

Comment:

Glad I didn't. In any case, I picked up BLMN calls and FLR puts for Tuesday to go along with WMT calls. (Not sure about either one so I didn't post ithem)

RGR puts look like a good idea, chart pattern indicates a drop before earnings.

The end of the day action looks bullish but we've all been fooled by that crap. Mostly cash for the long weekend, have a nice weekend.

Comment:

MFI touched oversold despite futures actually going up. As I said before, a melt up.... this is why I tell people not to short indices. Really difficult to short the market right now with futures melting up.

We'll see what it does tonight.