At the lows today, the Nasdaq 100 was only up about 3.5% on the year after being up 22.9% on the year, when the market was at its highs on July 10th. On July 19th, the VIX was briefly below 11. Today, it hit the 65 handle pre-market just 11 trading days later, the highest level on the VIX since the pandemic.
The VIX was at 38.57 by 4:35 pm EST and up 64.90% on the day. The Nasdaq 100 was down -2.96% today and holding gains of 6.3% on the year while the S&P 500 was down -3.00% today and holding gains of 8.7% on the year. Bitcoin lost over -14% on the day and is back at levels first seen in February 2021.
When the VIX nearly triples from the elevated levels on Friday and the stock indexes have a massive gap down, and when you have to be out of the office for the next couple of days to take catch up on personal business, staying on the sidelines is the decision for my trading today. For this reason, the results are based on hypotheticals.
The hypothetical results on the day are; the One Million MNS 130 was down about -1.2% at it's worse point intra-day. It did recover and was up +$295 on the day The hypotheticals for the 250K Portfolio were +$59. The results include one open position in the NQ. The final results could change since there is one open position.
The hypothetical results for the Stock Index Portfolio 18 E-mini was +$130 while the Micro strategies were up +$12.50.
Small numbers on the day but good relative to the volatility and VIX spikes that we saw today.
After today, the daily results will not be posted again until later this week or early next week. I have to be out of the office (which is rare) for the next couple of days. I don't leave automation running when I am away.
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