I was wrong. I did not think the Fed would be stupid enough to hike rates 0.75% – effectively doubling their current rate in one meeting – especially after telling us, over and over again, that the hike would be 0.5%. Initially the market sold off, then it receovered, then overnight we flew higher and then we crashed and now we're recovering. It's madness. At 2:10 pm, during our Live Trading Webinar, I posted this note to all of our Members : 0.75% hike is too much to risk bullish stance so let's add 300 more SQQQ 2024 $60/80 bull call spreads in the STP for about $4 each ($120,000). That will give us $480,000 additional protection for now. That flipped our Short-Term Portfolio much more bearish as 0.75% does have repurcussions and I couldn't believe how the market was rallying on the news yesterday but when I woke up this morning – that was all over and the rest of the World was selling US equities hand over fist. IN PROGRESS
I was wrong.
I did not think the Fed would be stupid enough to hike rates 0.75% – effectively doubling their current rate in one meeting – especially after telling us, over and over again, that the hike would be 0.5%. Initially the market sold off, then it receovered, then overnight we flew higher and then we crashed and now we're recovering. It's madness.
At 2:10 pm, during our Live Trading Webinar, I posted this note to all of our Members:
0.75% hike is too much to risk bullish stance so let's add 300 more SQQQ 2024 $60/80 bull call spreads in the STP for about $4 each ($120,000). That will give us $480,000 additional protection for now.
That flipped our Short-Term Portfolio much more bearish as 0.75% does have repurcussions and I couldn't believe how the market was rallying on the news yesterday but when I woke up this morning – that was all over and the rest of the World was selling US equities hand over fist.
IN PROGRESS
