The Closing Print live trading and financial blog during market hours.

Crude is off 22% this morning, with futures halted limit down. Our hedge positions are dampening the drawdown that we’ve seen for the past two weeks, as the S&P 500 and US Indices search for support. SQQQ and SPXU are printing higher highs this morning, as we wait for futures to open. Patience.

SQQQ SPXU Hedge

These hedge positions are rising this morning. If these highs are maintained through the opening range we’ll consider rolling our premium out another month to help capture this increasing volatility.

We are currently short 04/17 SQQQ 23C (4.60 avg) as we sold the covered calls (rolled up from 20) on Friday. We’ll look to do this again as a higher strike in April or May, depending on the prices offered this morning.

SPXU is following the same path higher, with futures halted limit down.

Last time markets were limit down – AUG 2015

“At 9:30, SPY opened for regular trading hours at 5.2% below its previous day’s close and then further declined to a daily low of 7.8% by 9:35. By 9:40, SPY recovered past its opening price and eventually closed down 4.2%. SPY’s decline from the previous day close to August 24 open was the second largest in the last decade, while SPY’s decline from previous day close to August 24 daily low was the 10th largest in the last decade” – SEC

Read the whole PDF here:

We’ll keep our hedges in place until the markets find a floor. Those positions are SPXU, SQQQ, TLT, AGG, GDX, gold and bond funds for now.

Join us today in the trading room for our LIVESTREAM broadcast

during market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 

Vinny

Want to become a member? Check details here:

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.