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And They’re Off! Bulls Are Rushing In

By Tim KnightStock MarketsJun 24, 2022 10:24AM ET
www.investing.com/analysis/and-theyre-off-bulls-are-rushing-in-200626259
And They’re Off! Bulls Are Rushing In
By Tim Knight   |  Jun 24, 2022 10:24AM ET
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After a week of dithering around, the bulls have finally grabbed the baton and are rushing down the track. At this point, it seems that the long-cited target of 3900 (more precisely, 3906) on the S&P 500 Futures is on the horizon:

S&P 500 Futures 30-Minute Chart.
S&P 500 Futures 30-Minute Chart.

The Nasdaq 100 Futures is similarly making a run for its former failure point:

NASDAQ 1-Hour Chart.
NASDAQ 1-Hour Chart.

As for my own portfolio, I have gone shrieking off in the opposite direction:

  1. Trimmed positions from 39 to 28;
  2. Raised cash from 0% to 33%;
  3. Got rid of my final September option, which means nothing expires before Oct. 21, 2022;
  4. Back to “wait and see” mode for new opportunities, since I think I’m going to step aside for this bounce.
And They’re Off! Bulls Are Rushing In
 

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And They’re Off! Bulls Are Rushing In

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Comments (4)
Bill Bill
Bill Bill Jun 26, 2022 11:09PM ET
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Hey, i did the exact same! Weird. Except i do still have a couple of sep options.
Jose Cabreja
Jose Cabreja Jun 24, 2022 2:51PM ET
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Bulls are being trap again n again.
Butch Einsel
Butch Einsel Jun 24, 2022 1:12PM ET
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Holding 40% cash earnings and GDP tank in July
Aaron Dade
Aaron Dade Jun 24, 2022 12:56PM ET
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I think that is wise because the bounce doesn't seem to have legs yet....
 
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