With the exception of early trading, we experienced a less volatile day in the market. China´s central bank intervention announcement combined with better than expected US economic news provided the back bone for a positive day. Even though we traded very lightly as the month is coming to an end, our trading strategy performed well. At current levels we still prefer long on dips, but must remain cautious as any bad news will send the markets lower.
Today´s Profit USD 130 (Portfolio Size: USD 25,000)
Visit Past Trades to review our history.
- Will Central Banks resort to ‘Day Trading’ to Stabilize Markets? (kingdomecon.wordpress.com)
- Chinese stocks enter bear market (bbc.co.uk)
- ZeroHedge: China Crash Continues; Shanghai Composite Enters Bear Market; PBOC Rumors Emerge (silveristhenew.com)