Market Update 4-12-2020

by | Apr 12, 2020 | Uncategorized | 4 comments

Overnight S&P 500 futures are down, indicating a down open Monday, 4/13/20, morning. This could be the beginning of “C” wave of the correction. Earnings season is kicking off this week and all eyes will be on the forward looking forecasts of the economic impact of the Coronavirus shutdown. See this week’s video for my latest analysis.

4 Comments

  1. Jim
    Jim on April 13, 2020 at 2:29 am

    I find the market update very interesting. It’s the first time I have able to understand graphically what has happened and how that relates to the upcoming week. Great job of not technically overwhelming me.

    • Dean Jenkins
      Dean Jenkins on April 13, 2020 at 4:05 am

      Jim, Glad to offer my thoughts. “Graphically” is the only way I can make sense of it.

  2. Josh
    Josh on April 13, 2020 at 2:31 am

    Hi Dean –

    It is very hard to trade this market if I cannot make sense of the daily price movements.
    I am way to emotional to trade in this market. I just read Disney is furloughing up to 43,000 workers :(.

    I have earned $3,800 in my trading account last week but my account balance has stayed roughly the same. My unrealized losses continue to grow or shrink depending on the day.

    My main trade has been buying spy puts and selling puts against spy expiring the next day or in a few days.
    Well last week has been rough because SPY rocked higher and higher.
    I’m long June 275 short April 13th

    I have to remind myself about Patience and every trade does not work
    Even Carmax went up $10 in the matter of days
    I was long july $60 calls and short $45

    At one point the $45 calls went to $700 each
    Karmax simmered down thurs and I got out of the short calls and sold the long calls

    Josh

    • Dean Jenkins
      Dean Jenkins on April 13, 2020 at 4:10 am

      Josh, It is a volatile market! Sounds like you are doing spreads of some form. You may have heard me talk about them – that I don’t like them. Very poor Reward/Risk ratio.
      I have been doing index Straddle/Strangles and they have done well.
      Also, my regular trades are “booming.” You are welcome to jump back in and follow along at any time.