16:30 h GMT: Today i closed LHA with a small profit, i call it a breakeven trade. I also closed my worst losing positions WFM (-0,696 R) and GILD (-0,593 R). Additionally i closed RL @ 100,19 with +0,28 R. RL was a good trade, i took out money a couple of times and realized more than 1R profit.
On the other side i reduced some SPY on the short side and my portfolio is well balanced with a slightly net short exposure. I lost on the long side and won more on the short side which is always better than the other way around.
VIX is making high jumps (up to +20 % when writing this) and controlling risks is key now. I believe that next few weeks will be very volatile and i prefer to be more defensive, time will tell the story.
15:12 h GMT: TIF was stopped out @ 66,76 and the last protion brought a net profit of 0,383 R. This trade was a good one and i realised more than 1R with this trade.
I used the heavy decline to close more SPY shorts. I realised losses but small ones and reducing my exposure at all. My portfolio is balanced now and i am expecting more pressure to the downside, so why closing shorts?
- We should act like professionals and control our risks. With each profitable long trade taking out, my net exposure to the short side rises and therefore i am making rebalancing moves.
- Making Money is key, not gambling. The confirmed breakout to the upside changed my plan to most important key of throwing out the short legs. I significantly reduced my short expsure and i am slightly long now.
- I do expect a turnaround Tuesday tomorrow to the long side and that i plan to use to scale out of some of my longs. I will short more if i get my signals and will change my net exposure again to the short side if market gives me a chance.
- On the other hand we can not ignore the 96,9 % down move of Friday, Price Action is always king. May be market will change character, may be not. I will let my options open to both sides. We also have to realize that VIX had an up move of nearly 40 % in a single day on Friday.
Like always time will tell the story.
17:35 h GMT: AAPL was stopped out with a profit of 0,496 R, I took several times of profit with that stock and one of my better oes are closed now. I used the heavy decline today to take out some of my SPY shorts out (reduced 5% and remain 35% of my maximum position size). I closed the 5% with a loss but overall i am in profit. My net exposure remains short, my portfolio is well balanced and time will tell the story.
14:16 h GMT: Last week i decided to close EMN and FAST with small porfits (0,54 R + 0,49R).
STT reached my target 3 and i realised by closing a small portion 0,506 R, it is the third time i am taking out money of this stock, a real good trade.
My net exposure remains short, market will decide for one or the other direction, playing still long to 2400 but time will tell the story.
19:30 h GMT: A couple of trades this week:
- I bought ADS @ 201,07 with SL @ 168,51, position 3rd entry
- EMN reached Target 1 @ 67,60, 33 % closed, stops adjusted, swingtrade.
- I bought GILD @ 81,26 and SL @ 75.56, position 4th entry.
- I bought BMY @ 59,59 and SL @ 55,24, position 1st entry.
- I bought SPLS @ 8,55 and SL @ 7,47, position 3rd entry.
I closed most of my swing positions like APA, HAS, TSS, KO and F, some with small losses, some with small gains. Market has changed somehow character as we can see on the tick bar charts. I decided to reduce exposure on the long side and also deleted open pending long orders. I do not know what is going on, but now is the time to scale out and be careful.
My net exposure stays short, my portfolio is good balanced, but i want to see the next hints and clues of the market. I do not like the price action of the last two days, time will tell.
16:01 h GMT: A couple of trades last week:
- HSIC was stopped out with a 1R loss.
- MCD was stopped out with a 1R loss.
- TSS was stopped out with a 1R loss. I re-entered TSS and will give it a second chance.
- AAPL reached target 2 and i closed a small portion with 0,327 R profit. Next target 115-116 area, stops adjusted.
- SYMC reached target 4 and i closed a small portion with 0,501 R profit. Next target 25 area, stops adjusted.
- RHI is a position 2nd entry and i bought @ 38,00 with SL @ 32,98. Target 1 is @ 44,60-46,00 area.
- TIF reached target 1 and i closed a small portion with 0,30 R profit. Next target 71-72 area, stops adjusted.
- WFM is a position 5th entry and the second time i am trying to catch a move with this stock. My frist attempt was successful and i entered long @ 30,99 with SL @ 26,79. First target is 34,90-36,00 area.
Overall my portfolio has 7 swing and 8 position stocks. Still holding my SPY short positions and my net exposure remains short. A couple of pending orders are waiting to be hit and can change my net exposure to the upside. Markets are drifting to the upside with super low VIX and volume. I believe it won´t stay forever like this, next month is September and it should be wise to watch VIX, OEX-PCR and price action; time will tell the story.
17:16 h GMT: Tiffany reached my stage 1 target @ 68,46 where i closed 30 % of my initial position. I realized a profit of 0,307 R and will adust my stop according to my tradingplan.
Today i was stopped in into 2 more stock positions, both are position entries:
- Lyondellbasell Industries long @ 76,60 with SL @ 64,28
- Whole Foods Market long @ 31 with SL @ 26,79
Again a new all time high with a super low VIX. Big players like Icahn and Soros are heavy short, Central Banks are buying and a lot of options on the call side. Although it is not understandable are markets drifting higher. This week is expiration week, let´s see if volatility to both sides comes back into the markets, time will tell.
14:57 h GMT: Yesterday i was stopped in into Henry Schein Inc. long @ 167,03. It is a swing1st entry with tight stop @ 161,49. My target 1 equals 1R.
Fastenal Co. reached my target 1 @ 43,52. I closed 37 % of my initial position and realized a profit of 0,29 R. My stop is above entry now, time will tell.
16:07 h GMT: Today i bought TSS as swing1st entry @ 48,94 and a tight stop @ 47,40. My target 1 equals 1R.
The breakout of the more than 2 years lasting sideways range in the overall market is confirmed, we can expect moves to 2400. Fundamentally it makes no sense, but TINA (there is no alternative) plus Central Banks work their ways. Time will tell.