market update

Previous market update here

We got a warning sign yesterday from our options tool, hardly 2 days into this "buy" signal. But, no sign of VST/ ST signal change yet. So, we remain put. Especially considering it is a FOMC day. We reiterate again that we don't trade around FOMC. We do have 2% and 5%  stops for ST and IT frames.

I am all ears on what the Fed chief will say about our economy. It is just that we don't trade what they say.....GLTA! 

Market update

Previous market update here

ST - changed to sell from buy as of close on 07/24

IT - changed to sell from buy as of close on 07/24

LT - buy

ST position: In our previous market update, we posted that we are taking 50% of our position off at 2.5% profit and 25% stopped at 2100. There are times when scaling off seems dumb, for example when the swing trade results in 10% or so. But, that's the reason why we have some left on the table. If the market conntinues in the same direction of our trade, so be it, we will have our chips there. Also, we were not scaling off for no reason. We had this warning sign (chart below) on 07/21. 

IT: IT changed to sell from buy. Previous signal was on 07/17 at SPX 2126. Which is a ~ 2.2% loss of our position. IT loss eats away our ST profits. Ah, humbug!

Anyway, good luck to all! 

Market update

Previous market update here

ST - Buy

IT - Buy

LT - Buy

All my positions are on buy signal, no change in trend yet, though I am seeing warning signals on the ST and LT. I am taking off 50% off of my ST position (here)with a 2.5% profit in ticker SPY, as 2.5% in ~ 10 days is kind of nice. Stop for 25% of this position is at SPX 2100 - to ensure the profits don't slip away. The other 25% will be flipped when the sell short signal comes on. This small blogpost sums up my strategy = scale out of profitable positions = always win!

GLTA!

Market update

Previous update here

ST - Buy

IT - changed to Buy

LT - Buy

As we noted many times in the past on this blog, we simply hate IT trading. Especially this market since the bull market began in 2009. This market swings almost every month up and down. That is ideal for ST trading. But, at the same time, not so good for IT trading. LT investing on the other hand is good as the trend has been up except in 2011. IT trading was excellent prior to 2006. 

Anyways, we were down 2.5% on the previous IT trade. We have a stop of 5% should the stop hit our trade before the signal comes. Which means our portfolio is okay getting a hit of 5% on this trade. We wouldn't say "fine" but just "okay". If not for these IT chops, our portfolio would be in much better shape. 

Good luck next week!