The week it was (+0.6%)!
Published on July 28, 2007
Published on July 28, 2007
(for details pls visit www.OptionPundit.net)
What a week! Most of the major markets were down. Dow closed little over -4.6%, Nasdaq almost the same, S&P500 dropped little over -5% and RUT was the hardest hit dropping over -7%. Interesting! I mentioned about black swan out of nowhere last week, though this is not black swan, but 4 to 7% drop is quite interesting. My weekly gains, +0.6%.
Personally, this was a great week for me for two reasons- 1) Markets were dropping and 2) I was travelling and when I combine these two points with out-performance vs. broader markets, that tells me I am becoming a better trader.
Since I have stopped OPN for a while, so there is no point talking about details of the trades (for the skeptics, those trades are on the forum but access is not provided. This will be opened when I restart OPN and subscribers can see the performance). My overall capital gained by +0.6% this week alone. This is the lowest returns since I started OPN. But hey, it is still out-performance, by a wide margin.
Apple earning experiment was also successful. Apple was a great teacher and it gave me two good strategies for my toolbox to take advantage of. Albeit, these can be used only once in 3 months.
Most of the markets are in for an interesting time, enjoy the ride,
Profitable trading, OP
Glad to hear you survived the week well. Looking forward to reading more of your work.