This was an excellent week for OPNewsletter when compared with broader US markets. All the mini-portfolios are positive and overall returns are 11.6%. vs 1.1 % on Jan 18th close, OPN portfolio grew 10.5% for the week closing on Jan 25th. A bonus trade for OPN (DXD straight calls) were also shared with subscribers that delivered nearly +35% within 2 days. Net, OPN is up +11.6% for Feb’08 income trades without any portfolio being in loss.
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For the past week, I have been traveling, so I prioritized OPN writings vs writing for the blog to optimize my time. Fed reduced interest rates by 75basis to avoid meltdown of US markets on Tuesday. I am glad this was another forecast that came true [On Jan 21 I wrote – If Uncle Ben doesn’t cut rates by say 75 basis points (Yes I am upping my estimate), it’s all set to head south]. And markets did penetrate 11,600, as I mentioned earlier, though for a short period. Gold bounced back nicely, GDX is still not truly reflecting Gold’s move. Just a matter of time before it does.
Uncle Ben is trying all he can to revive markets, I am not hopeful yet. Let’s see first whether or not liquidity that is being pushed into the market will really reach needy. Let’s see if consumer will spend? or save?
Have fun trading, Profitable trading, OP