17 Stock Trades:
3 AAL + 94.94 BPS
3 BLT + 25.09 BPS
6 SBRY + 96.59 BPS
5 STAN + 106.66 BPS
Stocks net + 323.28 BPS
All long trades, all intraday.
I traded 5 days this week.
Return on account for the week + 4.87 % net.
P:L ratio was 13.1:1 - I had one losing trade....
No Index trades, I am concentrating on stocks.
Thoughts
Another fairly volatile week, which I like to see.
A decent return, well above my 2.5% weekly benchmark.
A couple of poor exits, and a few missed opportunities. Frustrating that I practically caught the lows of the week on BLT on Tuesday in the low 1830s, but didn't ride it into the highs on Thursday. Same on AAL.
I guess I didn't fancy the risk of a gap down overnight. Of course, both AAL and BLT gapped up on Thursday morning after the FOMC.
BLT high back on 9th June was 1918, then on Thursday (the 19th) it peaked at 1917.5 before falling below 1900... who says price doesn't have memory ?
STAN was weak, making a new 30 day low on Friday. BARC remained weak too.
BP and RDSA/B made new 52 week highs.
Changes on the week:
Although the Fed continues to swamp the financial markets with cash, I remain cautious on the equity markets for now. Not sure how this is all going to end, but it will probably surprise a lot of market participants.
Friday lunchtime here and I think I'm done for the week.
Looking forward to more opportunities next week. I'm up a decent percentage on the month, and I will be cautious in what remains of June.
Besides, lots of quality football to be enjoyed....
Stay disciplined.
Stay focussed.
Stay humble.
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