Hey Guys,
The market is still cruising upward in a big way. Just last week the S&P 500 reached down near 3800, and now today it's up over 4100. The market went from being panicked to being seemingly exuberant.
I'm always cautious about concluding that the tide is turning in situations like this. There has been so much volatility in the recent past that I'd like to see sustained momentum in the upward direction before I consider the market to be shifting. If we saw upward momentum along the lines of what we look for in our trade strategy, then that might be a strong indicator that the market mood has truly shifted. Until then, I wouldn't be surprised at all to see more volatility.
I locked in more profits since my last email. My UNM stock position reached its time limit this morning and was closed for a profit. Yesterday both my options positions reached their time limits and were closed for profits. Earlier this week I emailed about how both my options positions were a bit under breakeven but still within the zone of the back-tested edge, so congrats to anyone who jumped on those since they turned out to be profitable despite slow starts.
There are no new trades yet today. Yesterday MRK from the watch list came really close to triggering but didn't quite get there. It's been a very quite week as far as new trades, but I noticed that more tickers are starting to show up on the daily scan, which means our trade activity might be picking up.
If you have any questions or feedback, I'd love to hear from you.