50K Portfolio, 1 Micro SI 40 (LIVE) = -$380
200K Portfolio, 2 Micro SI 40 (LIVE) = -$470
(Based on open positions that can change by the close)
We no longer track the old 50K and 200K in the daily videos but they will be in the Portfolio Calculator. Nice Sell off into the Close Overnight and the first hour were choppy. It was nice to see a solid down trend and the market close near the lows. It is normal market behaviour to have both up and down trends. Looking for some exasperation from the dip buyers.
The Zig Zags were below 10. The sell off brought us back quite a bit but we didn't recover from the early losses in the overnight session and the first hour of trade. The bulls brought out Marko Kolanavic of JP Morgan and Cathie Wood of the ARK Innovation funds to promote the bullish agenda today, dismissing inflation and higher interest rates. Kolanavic said the market was a bit over done. His record isn't so good lately and Cathie Woods is down 56%
I think the market will take out the lows on January 24th and continue lower for awhile. I'm surprised the indexes have held up so well and would normally expect them to be down about 30% off the highs by now. Either way, we continue to trade our strategies and go over the daily results. The Stock Index Portfolio 40 has been back and forth the last couple of weeks with a 4 day win streak last week followed by a 4 day losing streak this week.