Today the market opened higher and traded sideways until the Fed announcement when it just got hammered. Mr. Bernanke and Co announced that if the economy and employment numbers improved further he would start dismounting QE, therefore our favorite trade is short on spikes. Today we traded very lightly and closed opened positions. Tomorrow, we expect the market to drift lower tomorrow, therefore caution is warranted. We have had a succesful trading month so far, therefore we will not take much risk in order to preserve our profits.
Today´s Profit: USD 189 (Portfolio Size USD 25000)
Today the market opened higher and kept going with a few corrections on the way, closing a few points off the high. We applied our strategy of going short on spikes but assumed very little risk, therefore closed our positions rather quickly. As of today we still prefer shorts on spikes but will define our strategy depending upon tomorrow´s Fed announcement. We believe tomorrow will be a very volatile day thus staying out of the market as much as possible.
PROFIT; USD 160 (Portfolio size USD 25000)
What a day!!! The market opened higher and kept going strong only to retrace fast most of the upside before rebounding . At one point the NDX-100 was up over 45 points at 2988, then it sprinted lower returning 33 points and closed at 2974. This week will be marked with a high degree of volatility as on Wednesday we will hear from Mr. Bernake. Continuing with our strategy, we shorted on spikes and were able to close our positions when it corrected, but must admit that at one point we thought we were going home with a loss. For the time being our prefered trade is short on spikes.
Today´s Profit: USD 480 (Portfolio Size 25,000)
The market opened higher, then it retraced and traded sideways until the last hour where it closed at its low. As mentioned yesterday, we took short positions on spikes but closed them fast as we did not want to take much risk on a Friday. We think the market is nervous and will continue with our strategy of shorting on strength, but at the same time will exercise caution at current levels.
Our daily profit was USD 120 (Portfolio Size = USD 25000)
Before the opening, the NDX-100 futures were trading significantly lower but by the time the market opened it had recouped most of its losses. As stated yesterday we were worried that any good economic news may give the market an opportunity to rally and so it did as Unemployment and Retail Sales came in better than expected. As you can see in the graph, todays market trend was upward all day, with little to no corrections. At this levels we feel more confident on taking shorts positions on any spike.
Total Profit: USD 154 (Portfolio Size: USD 25000)
The market opened higher trying to recoup some of yesterday´s losses but was not strong enough and ended significantly lower, reaffirming our strategy to short the NDX on spikes, but at current levels we are cautios as any good economic news may give the market an opportunity to rally. The Dow posted for the first time this year 3 consecutively negative closings breaking 15,000 as everybody is worried that central bank stimulus is winding down.
Our trading provided us with a USD profit of 23o (in a USD 25K Portfolio). Check our Past Recomendations
The market opened substantially lower as The Bank of Japan let its monetary policy unchanged. The trading day could be described a s a roller coaster. Lower in the morning, recoup most losses around midday and at the end it closed towards the lows. As we were able to close a WTI position left open on June 07, 2013 at a substantial profit we traded very cautiously the rest of the day. Our bias is still short on spikes, but if tomorrow we open substantially lower we may try some long positions. Today we realized 2.25 ponts profit in the NDX and our WTI position yielded USD 319 (Please keep in mind that we trade based on USD 25,000 portfolio; bigger sized portfolio must adjust positions accordingly).