{ "media_type": "text", "post_content": "7/23 Thread (General):", "post_id": "60fa34626ad8730024fd75c8", "reply_count": 5, "vote_count": 3, "bowl_id": "5acc42208c6b52001375e11e", "bowl_name": "Option Traders & Investing" }

7/23 Thread (General):

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On vacation the last few days so haven’t been active in the market. But the bounce this week is a good opportunity to prepare for mega cap tech earnings. The numbers could be incredible but against easy comps - this could be peak earnings for the cycle. A sell off after the reports might be in the making. Think about trimming positions or buying some protection with covered calls or puts on XLK or QQQ.

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TWTR and SNAP earnings show pick up in ad revenue = good for MGNI

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Selling out of AMD swing for 50%, have one runner till EOD to see what happens. Started small VIX position on the dip into the 16's. Closed SOXL share position for 11% gain. These are all in my smaller trading account. I'm in the process of consolidating brokerages so I haven't touched my larger account

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I posted this in another thread, but I am less bullish than I have been the past 3 or 4 weeks. Back in June I called for a tech rally in July. I was right on big tech, but my call on semis was so-so (worked well depending which one you had). Now that we have had a rally in Tech,I have sold most of the remaining calls I had (Apple, Amd, QQQ). I also scaled down leveraged funds, SOXL, TQQQ, etc. Until breadth shows signs of improving, I don't like that the market is being pulled along by a handful of stocks. Even the traditional meme stocks are struggling. Plus with money flow into bonds, I don't like where the market is currently. I have VIX calls for Oct, started today. I think the correction could surprise in mid-august. 5-10%. Everyone is in anticipation of Sept, so a perfect time to catch people off guard is right before that.

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What’s the general sentiment on Chinese ADRs. Are they doomed long term?

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