Weekly Results & thoughts of bullishness
This week had mixed results – 2 systems gained and 3 systems lost – resulting in a small loss overall of $435 (includes $35 roundtrip commission and slippage for each trade). Below are the weekly results and thoughts about the current market.
| Weekly Hypothetical Results – 1 contract Russell 2000 emini futures | |||||
| ($35 roundtrip commission and slippage included, see Disclaimers) | |||||
| System | # Trades | Net Profit | |||
| Bobcat I | 3 | $ 135 | |||
| Bobcat II | 1 | $ (75) | |||
| Cougar | 2 | $ (370) | |||
| Lion | 4 | $ 180 | |||
| Tiger | 5 | $ (305) | |||
| For more information about these systems, go to www.trendfindertrading.com | |||||
What’s up with this bullish market?
With the exception of a couple very small down days, all the stock indicies have been up 10 days in a row! This is very rare. Optimism is showing up that the recession is coming to an end. Personally I am not so enthusiastic.
Looking at a weekly chart over the past 2 years, some of the markets do show a head & shoulders bottom, but they are also all in downtrends. In fact, only the Nasdaq and Russell 2000 have even reached a 38.2% retracement (Fibonacci ratio). My guess is that the market makes a high for the year in the next 1-2 months and then challenges the March lows. But who knows, maybe instead the bull has returned, we make new stock market highs, and the economy is in good shape again…me thinks not.
But, I will leave the market prognostications to the talking heads.
Personally, I put my money in time-tested mechanical daytrading systems. With daytrading there is no need to make predictions of which direction the overall market is going. As long as the markets move around during the day the profit potential is there.