It was a tough month of sledding. The Dow
posted four weeks of losses. I gave back quite a bit from the record
high. Grade for the month is a gentleman’s grade of C. I lost about
2% for the month, off about 1% for the week, up over 20% for 2019.
A couple of songs seem relevant to this trading week, Manic Monday (link1), and I’ve got the Music in Me (link2). The first because of the 600+ point decline on Monday, the second for the line, I heat up, I cool down. This week, I roll up, I roll down, and end with a loss of about 1%. For the year, I am up 20.4%.
Here are some etfs and their year to date (not including dividends).
QQQ +18.7% US mostly tech
SPY +14.4% US large cap stocks
IWM +14.1 US small cap
TLT +3.7% US 20-year treasuries
EEM +3.1% Emerging markets equities
GLD -0.5% gold
SLV -6.9% silver
So at +20.4% I am having a good year. I was having a better one, before the tariff tweets, but the give back has been modest after such a big run up.
This week, new longs include tiny positions in BYND and WMT. Tesla caused some heart burn, but is still above my mental stop level of 200. I got whipped around by the wide swings. I often rebalanced closer to delta neutral only to have to redo or undo trades as the market went down, then up, then back down again. I lost about 1% for the week, about 2% for the trading month, up 20% for 2019.
For now, I'll stay in the middle of the stream, staying near delta neutral on a lot of underlyings. I am cautious, as nearly always.
A couple of songs seem relevant to this trading week, Manic Monday (link1), and I’ve got the Music in Me (link2). The first because of the 600+ point decline on Monday, the second for the line, I heat up, I cool down. This week, I roll up, I roll down, and end with a loss of about 1%. For the year, I am up 20.4%.
Here are some etfs and their year to date (not including dividends).
QQQ +18.7% US mostly tech
SPY +14.4% US large cap stocks
IWM +14.1 US small cap
TLT +3.7% US 20-year treasuries
EEM +3.1% Emerging markets equities
GLD -0.5% gold
SLV -6.9% silver
So at +20.4% I am having a good year. I was having a better one, before the tariff tweets, but the give back has been modest after such a big run up.
This week, new longs include tiny positions in BYND and WMT. Tesla caused some heart burn, but is still above my mental stop level of 200. I got whipped around by the wide swings. I often rebalanced closer to delta neutral only to have to redo or undo trades as the market went down, then up, then back down again. I lost about 1% for the week, about 2% for the trading month, up 20% for 2019.
For now, I'll stay in the middle of the stream, staying near delta neutral on a lot of underlyings. I am cautious, as nearly always.
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