23 Stock Trades:
5 AAL + 196 BPS.
6 BLT + 394 BPS.
2 BP + 221 BPS.
3 GLEN + 220 BPS.
1 SBRY + 79 BPS.
6 UK100 + 211 BPS.
11 long trades + 791 BPS.
12 short trades + 530 BPS.
13 intra-day trades + 471 BPS.
10 multi-day trades + 850 BPS.
Stocks net + 1321 BPS.
Return on account for the week + 12.25 % net.
P:L ratio N/A.
Days traded: 5.
Longest trade duration: 13 days.
Shortest trade duration: 3 min.
(All PNL expressed in basis points for the purpose of comparison.)
Thoughts
Another week, and markets were active again.
Crude oil was weaker on Monday. The FTSE however made another 30 day high.
SBRY gapped open nearly 20% on Monday after merger (with ASDA) news emerged over the weekend. I think the shorts took a big hit on that. I took a short on it but closed way too early.
Miners were volatile again, especially GLEN after it emerged that Glencore won a temporary injunction against mining magnate Dan Gertler over $2.28 billion worth of royalties the Israeli businessman says he is owed by the Anglo-Swiss commodities trader.
Mining stocks remained strong, as did the oil majors (stronger than their counterparts in the US). This is probably due to the continued weakness of GBP/USD. Both BP and RD Shell made new 52 week highs on Friday.
So all in all, a pretty busy week.
Well north of my 2.5% weekly benchmark anyway.
Of course, the Giro starts on Friday... three weeks of cycling on the TV... going to be difficult to concentrate on work...
Looking forward to further opportunities and some quality cycle racing next week.
Stay disciplined.
Stay focussed.
Stay humble.
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