Are the Corporate Buybacks Pushing The Bulls into a Trap?
I stuck the market trading today in what was me best day since I started Trading.
NQ Futures I timed the liquidation break this morning and finished trading before 10.
Covered morning short into SPY 1DTE calls for 100% scalp.
All planned by 6am.
My primary indicator was that corporate buyback blackout periods are drawing to an end.
Early AM high call volume of unusual options activity in Apple and Amazon confirmed my hunch.
Friday
Looking forward ahead of tomorrow. I opened a small QQQ short position on a hunch.
1. UVXY gained into close along with QQQ and SPY
2. Both AMZN and AAPL reaching the top of a 1yr regression trend (charts below)
3. Every so often a Friday has been a selloff instead of a vix crush. You can see the dates and vix level at the bottom. Very similar VIX level and momentum into tomorrow.
To the contrary, this is a perfect setup to jump higher on EV rush and Big Tech going into Christmas.
My guess is Joe and Xi worked something out on CPU shortage.
4 hr RSI/MSI still has a way to go before oversold.
I will be looking to sell my puts in AM if QQQ makes a move higher.
Not Financial Advice. Just a 007 Trading Journal.
NQ Futures I timed the liquidation break this morning and finished trading before 10.
Covered morning short into SPY 1DTE calls for 100% scalp.
All planned by 6am.
My primary indicator was that corporate buyback blackout periods are drawing to an end.
Early AM high call volume of unusual options activity in Apple and Amazon confirmed my hunch.
Friday
Looking forward ahead of tomorrow. I opened a small QQQ short position on a hunch.
1. UVXY gained into close along with QQQ and SPY
2. Both AMZN and AAPL reaching the top of a 1yr regression trend (charts below)
3. Every so often a Friday has been a selloff instead of a vix crush. You can see the dates and vix level at the bottom. Very similar VIX level and momentum into tomorrow.
To the contrary, this is a perfect setup to jump higher on EV rush and Big Tech going into Christmas.
My guess is Joe and Xi worked something out on CPU shortage.
4 hr RSI/MSI still has a way to go before oversold.
I will be looking to sell my puts in AM if QQQ makes a move higher.
Not Financial Advice. Just a 007 Trading Journal.
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