What a roller-coaster!

This is a kind of rollercoastering gyration that we won't see often but at the time of extreme panic!

We saw a 65 point rally last night in the futures, followed by the 50 points down also in the futures just prior to today's opening and shortly after the opening. Then we saw a huge rally again intraday today but again all the intraday gain lost by closing. I'm sure hardly anyone could have the guts to trade this market. Here is my note to my DW Family.

 

And I did buy early this morning! Of course there are risky ways vs safer ways to do so. For today, I'm more with the safer ways by betting that the wheels will not fall off completely in the days ahead. In other words, I bet SPX won't crash down below 3700 during this week.

Last Friday, however, when SPY had a free fall, I betted with a more risky trade by opening a big position to buy SPY 385 calls. I could lose $10K if I'm totally wrong but I trusted my TA analysis and gut feeling. Well, this morning when the market continued to have another free fall, this call fell nearly 80% but then the market had a huge turnaround. So I added a short arm to protect it. As it stands now, it is a risk free trade already, with a minimal gain about $2400 but max gain towards $4700 by tomorrow, with no chance of losing money regardless of what the market will do tomorrow! Thanks God that the TA/sentiment indicators didn't cheat me😇