The market was sloppy as expected today and similar to Monday's trade. The market has been in a "wait and see" mode for NVDA earnings. The VIX was up over 10% today and back in the 17 handle.
As you know we wait for a drawdown entry alert to start trading to reduce initial risk. After tracking the signals today, we have our drawdown entry alert in the One Million MNS 130/128 for tomorrow's trade. We will verify the final results and trade the best setup live for tomorrow's trade.
The hypothetical results for the One Million MNS 130 was -1.86% on the day while the One Million MNS 128 hypothetical results were -1.8%. The 250K Portfolio hypothetical results were -3.73K. The One Million MNS 130 has given back -3.4% since its equity peak on 8/20/2024. I missed the big move in the first half of the month, in live trading as I had to be out of the office to a greater extent than normal, in more than 3 years, that prevented me from managing the trades.
The highlights today were Natural Gas and Coffee.
We are looking forward to synching up with the strategies, managing risk, and working to capture some good trades. There are two trading days left in August, and then we start on new month next week. Monday is the Labor Day holiday.
The hypothetical results for the Stock Index Portfolio 18 was -$2,825 per E-mini and -$283.50 per Micro. The hypothetical drawdown level in the Stock Index Portfolio 18 is about -$7K. We look for a 10-12K drawdown for a drawdown entry alert in the Stock Index Portfolio 18.
It has been a sloppy week. We anticipate these sloppy weeks as part of the trading cycle.
Additionally, we have a rollover alert in Silver, Copper and 30 Year Bonds today.
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