It Is Really A Bounce Worth Waiting For !!!

The Bounce as expected came on Monday. What a Bounce!!! It is beyond my expectations.

• The DOW Index bounced more than 936 points from its previous close
• The S&P500 Index bounced more than 104 points from its previous close
• The Nasdaq Composite Index bounced more than 194 points from its previous close

I have closed my SPY Nov 90 Call on Monday, when it showed some retracement. I was waiting to re-enter the market with a SPY Nov 95 Call or SPY Nov 100 Call. However, I could not find the right retracement level. The market just went further upwards after a very short retracement. Nevertheless, I am thankful to have made more than 50% by just leaving my position over the weakend.

Yesterday, the market did retraced sufficiently. I am currently not sure of the immediate market direction.

The earnings season has just started again. The market fundamentals are still very weak. Generally, the results and/or earnings guidance should not be good. So the market can be expected to go down again. The bottom is not there yet. I am now considering some earnings play.

PersianCat (Millionaire-in-progress)