50K Portfolio 1 Micro SI 25 (LIVE) = +$250
200K Portfolio 6 Micro SI 25 (LIVE) = +$1,575
I have anticipated lower prices in equities but after yesterday's rally, going into a holiday, I would have thought the bulls would have maintained control and moved the market higher in a slow holiday uptrend prior to a three day weekend. To see the market roll over to the lows of the week - is technically bearish. Anything could happen this weekend though with Russia and Ukraine.
I believe the real reason the market sold was inflation. The markets desire to be contrary after Tuesday's inflation report (CPI) was misguided. Bonds sold off hard today and Crude Oil rallied hard today. Stock indexes finally sold off as well. The realization of hot inflation has not been completely priced in the market in my opinion. This is also bearish.
I believe those mid March lows are now at risk.
The stock perma bulls have called "peak inflation" since October. If you call a top all the time, you will eventually be right, even if it takes a few years.
The sell off today was choppier than the runup yesterday but it was nice to see a good trend that traded into the close as we took advantage of the short side and ended up flat going into the weekend.
Only one S&P strategy traded today and was short into the close.
Seven Nasdaq strategies traded today with 4 strategies showing profits and 3 showing losses.
The main discussion on the day was Elon Musk's offer to purchase Twitter. I'm sure there is money to be made if you can figure out what Elon Musk is going to do. I don't trade Twitter though.
Have a great holiday weekend!