Hey Guys,
Well that was a fun week! On Monday the market opened down noticeably and I talked in my email that day about how I actually felt excitement about the market being down and triggering some trades. My excitement proved to be justified this time. The market has gone almost straight up since then.
Both my MES futures trades reached their profit targets today, as did their SPXL stock equivalents. Also all my options positions were closed for a profit yesterday. My BLDR stock position from the low-priced account reached its profit target yesterday. And every single other position I still have open right now is showing a profit. It was a good week!
Another fun stat: my main account balance went up more than 11% this week in terms of closed trades. That's a big boy week of profit right there. And if some of these open stock positions hold their profit, then next week might have some nice results too.
There were no new trades today. We saw a situation like this just a few weeks ago. The market had bounded up so forcefully that for a while there were no pullback trades that met my trading criteria. There was one five-day stretch with only one or two trades. I talked about being patient and waiting for the back-tested trades to set up, and that patience paid off this week. We might be faced with needing to be patient again because the market just bounded upward and there are no tickers that appear particularly close to triggering a trade entry right now.
That said, there are a number of tickers on the daily scan at this point. So once the market settles down a bit, there might be a nice flow of trades coming our way.
Happy Holidays Guys! The stock market is closed tomorrow, so I'll catch you next Monday.
If you have any questions or feedback, I'd love to hear from you.