The 200K Portfolio was up +$16,825 and the 50K Portfolio was up +$4,975. The hypotheticals were +$17,260 and +$5,178 respectively. We took long trades all day to new portfolio equity peaks in the Stock Index Portfolio 18 MIT (Market Internals).
We had several strategies with small losses that had big potential if the stop loss was slightly larger. We work with a diversity of strategies setups and a diversity of exits and stop losses.
CPI was "cooler" than expected and the market made a massive move in the pre-market. Since we only day trade the markets right now, we missed the first 5% of the move. Our gains on the day were still greater than 8% to beat the index gains on the day. Additionally, we had nice gains yesterday on short side when the market was down.
Sometimes big moves like this make it more difficult for a day trade approach to beat a buy and hold approach. Our day trade algorithms were able to dial it in on the long side today as well as the short side yesterday.
Last week was brutal with 5 losing days in a row with extreme mean reversion chop. This week, our gains have nearly tripled last week's losses. There is one trading day left this week. Tomorrow is Veteran's Day and the cash bond market will be closed. It is possible the bulls will use the "light volume" to push the market higher tomorrow. It could also chop around.
The seasonality and liquidity really want to push this market higher. We see a long series of negative economic data points and the market won't trade lower. Then we see one positive data point in CPI and the market surges higher.
We take both long and short trades and are flat at the end of the day.