That's my back porch!
I Got Power Back Last Night After Being Down For Four Days
The snow storm hit my state of Ohio pretty hard and I've been without power since this past Monday, but late last night it came back on. Those brave workers put in 16 hour days to restore the power, so I'm very grateful. I'll keep this post short as I have things to around the house to get back to normal. Like bringing all the food back inside and put in the refrigerator again.
It didn't look like I missed much in the market anyway, so that was nice timing I guess. I'm basically in alignment with Peter Eliades upside targets, which are 3965-3981 on the SPX and 31,697-32,186 on the DOW. It would be perfect to hit the DOW target high today and the SPX on Monday as that would create a perfect divergence between the indexes.
I don't see the SPX going over 3950 today due to all the calls at the 395 strike price on the SPY, and even more at 400. So they will likely keep the market range-bound today above 3900 and below 3950 SPX. So have a great weekend (if you can... meaning you have power, so be thankful) and start looking for that upside target on the SPX to get hit Monday morning. If so it's huge short in my opinion.
I'll be jumping in with both feet. I plan to layer many position, where one will target a 8-10% correction into March. Another 20-30% correction and finally one for a 50% correction into the end of March with the FP on ES of 1935.10 as my final downside target. Bottom line here is that one of those position should make more then enough to cover any loses on the others. If all are hit (meaning we drop into the FP) I'll make some nice coin on every position.
It's never easy of course, so I'm grateful to win even on just one of them (I'm planning on 5 different positions targeting 3500, 3250, 2900, 2550, and 1900). This should all be over by the end of March I believe... at least that's the timing cycle I have that makes sense. Basically another 5 week decline similar to last year, but hopefully lower in price. I say that because of the FP on the ES of course. Well, have a great day and again... be thankful for how blessed you are to even be able to trade the stock market. Many in the world have nothing... never forget that.
P.S. Many wishes and prayers go out to Peter Eliades. Get well soon and may God bless you and keep you safe.
Here's another pictures of some workers parked at the end of my driveway from my shop building by the church.
Lot's of work trucks will stop and park there for awhile, and sometimes they leave them overnight. Also, I think they have trouble getting a good cell phone signal out the road further and my driveway and the churches is the perfect spot to stop and make a call. Or maybe it's just lunch time... who knows for sure? Of course I don't mind them parking there as I know they are always out working hard to better the community.