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wow, Algorithm value is very high today. Wish I had more ammo for puts.
Getting to a point where we are over extended at a confluence of resistance:
Interested to hear more about the trading system you are working on.
could you elaborate.
in 100 shares sds at 55.30 stop set at gap sup (spx 923) might change it to ma 20 (926)
will add to the position if spx resistance holds
But if this count is correct, we will see a minimum of 870 in short order if it's a C. If a "3" we are looking at 820-837 by the 4th.
Interesting conflict. Back testing downtrend line from May consolidation at the lows. Back testing the break of the April uptrend line at the highs.
Without playing the part of Captain Obvious too much:
Stops on positions moved down. No set number but 2 hourly closes inside the channel will close out 100% of position.
If this read is right Chevron is going to seriously outperform Oil over the next 12 months. Target is 0.25
Trying out a new trading algorithm I've been working on.
Had to name the algorithm something right? How about: Tool Used Make Money Efficiently? (Tummy or Tumi to the business crowd)
Trades will usually last 3-7 trading days with a few exceptions (stops getting hit being the most likely).
Base fund is $100,000 and trades will be made with 2 x S&P ETFs (SSO, SDS). In extreme readings, ITM Puts/Calls will be purchased.
I will not post my actual trade but the value of the SSO/SDS at the time of post since there will be a short lag and it will be a little more realistic to those following along.
Amount of trades can not be predicted, based strictly on algorithm value.
Portfolio Value (June 11 - today):
$108,956 (+8.96%)
Available Cash:
$2,574
Open Trades:
July 21 - Purchased 1,000 Shares of SDS @ $50.64 ($50,640). Stop SPX 982
July 22 - Purchased 900 shares of SDS @ $50.75 ($45,675). Stop SPX 982
July 22 - Purchased 45 SPY August 95 Puts @ $2.19 ($9,855). Stop SPX 982
Trading History:
Opened [June 11 - Long 1,600 Shares SDS @ $52.05 (purchase $83,280)], Closed [June 16 - Closed 1,300 Shares SDS @ $56.09 (sold $72,917)] $5,104 Profit (+7.53%)
Opened [June 12 - Long 300 Shares SDS @ $52.77 (purchase $15,831)], Closed [June 16 - Closed 600 Shares SDS @ $56.54 (sold $33,924)] $2,626 Profit (+8.39%)
Opened [June 12 - Long 900 Shares SDS @ $55.66 (purchase $50,094)], Closed [July 1 - Closed 900 Shares SDS @ $53.94 (sold $48,546)] $1,548 Loss (-3.09%)
Opened [July 8 - Long 2,000 Shares SSO @ $23.40 (purchase $46,800)], Closed [July 13 - Closed 2,000 Shares SSO @ $24.61 (sold $49,220)] $2,420 Profit (+5.17%)
Opened [July 7 - Long 2,000 Shares SSO @ $24.05 (purchase $48,100)], Closed [July 13 - Closed 2,000 Shares SSO @ $24.97 (sold $49,940)] $1,840 Profit (+3.83%)
Opened [July 15 - Long 1000 Shares SDS @ $54.60 (purchase $54,600)], Closed [July 16 - Closed 1000 Shares SDS @ $52.91 (sold $52,910)] $1,690 Loss (-3.09%)
AI
