The market traded lower soon after the opening. The sell orders were intense and any attempt to rebound was met with selling pressure, reaching almost a 2% loss. At noon the market traded higher closing the day at a negative 1%, proving our approach of buying on down pressure quite succesful. At this levels we recommend caution but our stance remains the same (long on selling pressure). Market participants are very nervous as a result of the recent announcement from the FED and dire economic news out of China. We hope trading resumes to normal trading patterns with less volatility!!! For the remainder of the week we will trade less as to maintain current profits.
Today´s Profit USD 335 (Portfolio Size: USD 25,000)
Visit Past Trades to review our history.