50K Portfolio 1 Micro SI 25 (LIVE) = -$1,250
200K Portfolio 6 Micro SI 25 (LIVE) = -$7,400
0 out of 1 S&P strategies were profitable
2 out of 8 Nasdaq strategies were profitable
Worse trading day since April 6th with wild price action as nothing went our way and the market seemed to reverse every time we took a trade. Jerome Powell came out with hawkish comments and Wal Mart had its worse day since 1987, down around 11%. Regardless, the market insisted on going higher in a very manipulative tape and seems to be working towards bad news is good news mindset. Every sell signal was met with a buy program of bulls who want to reverse the market direction, essentially pulling the market higher.
I anticipated a move higher in the market overnight, the type of move that we see when the bulls are in control for a bear market rally cycle. We did see an overnight drift higher. The intra-day price action was surprisingly choppy and very extreme! I anticipated a much bigger and smoother move higher.
The lack of strength and bounce by the bulls is surprisingly weak so far. Its possible we will see a series of gap ups here if the bulls maintain control.
The last time we were in a drawdown cycle like this, we had a 65k run in the 200K Portfolio. Past performance is not indicative of future results.
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