A strong gap held up Tuesday as the market consolidation around SPX 1270 or so ended today. The volume was still weak showing a lack of institutional participation but breadth was decent. The VIX picked up the pace but the indices closed at their highest levels since July 29, eclipsing the October highs. It’s earnings season, I find it hard to believe many would want to be short. The bar has been set low and I suspect many will beat estimates – guidance always key.
A strong day for us as we booked three more good winners – JOY, POT and MOS – anywhere from 23% to 59%. Patience is a virtue. Below you’ll find a graphic of closed trades over the last week or so, and while we still have ‘plays in the oven’ we’ll look to unload these over the coming days and weeks. For now, we’re hitting on all cylinders – 13 win and 3 losses since the year started. All trades told we are up 22% for the year.
Questions on the trades, let me know – email@example.com