I’ve been hearing/reading predictions that the market should do this or that. Well, we know what to do with those things, don’t we? When do you get in? When do you get out? Let’s take our cues from what the market is telling us rather than telling ‘it’ what should be happening.
Those who thrive on making macro predictions are rarely the ones putting money on the line when it counts most (LIKE US, RIGHT?). Enough of that! Volume subsided a bit on Friday, some negative news from Greece held the markets down – who wants to be heavily long with the uncertainty out there?
Sentiment was off a bit from the recent strong readings, breadth was lousy and we finally saw a bump higher in volatility. Option prices have been super cheap but the price is going up. Earnings this week were pretty decent, there are about two more weeks of heavier readings. Next week brings expiration and a slew of economic data.
I like the trend here in the market currently, but that can change.
We added a few positions today. Below are position updates. I won’t post comments everyday but will have updates from time to time. We are NOT daytraders by design, therefore needing to justify a move against because of market action is really nonsensical. We need to understand the purpose here, take it easy and trust that the charts tell the story. We hold positions until I send an alert that we are exiting).
Was a VERY STRONG results week once again. Nine winners and three losses, a great 75% win percentage.
You can look at the portfolio results page on the website when logged in and see how the numbers stack up. I have put the trades closed below along with the current positions we are holding. Looking to book more wins over the coming days to lighten up some.
Have a great weekend, I’ll see you on the twitter stream Monday!