S&P Closed Up On The Week
This past week the S&P ended the week up 16.85 points ending the week at $2850.13. The S&P is once more set to try to tackle the all-time high of 2872.87. Volumes and momentum by week’s end would indicate the chance is quite high the index will break to a new high in the upcoming third week of August.
As of Friday, the S&P is up 1.24% since August 1st and 6.6% since the end of December 2017.
SPY ETF Trade For Monday
Aside from the market direction portfolio, on Monday I will be buying spy calls. The direct details will be available for members.
NASDAQ Rebound
The NASDAQ ended the week down 22.78 but for the prior week it was up 27.10 so for the month of August it is still up 1.92% despite investors fleeing technology stocks. Since the final day of trading in 2017, the NASDAQ is up 13.22%. The ongoing trade in TQQQ ETF is continuing and I do expect the NASDAQ will follow the S&P and move higher this upcoming week.
Weekend Investing Strategy Reading List
Saturday’s are a chance to relax, kick back and review some strategy articles to work toward becoming a better investor. Here are some strategy articles from the archives that are worth a refresher read.
These articles are open to all investors not just members.
1) 7 Rules To Fight Your Emotions When Investing To Earn Big Profits
This article is open to all investors. This article was prompted by a one day 200 point collapse in the Dow in early January 2015. Quite a few investors emailed me worried that the plunge was setting up the markets for a move lower in 2015. While that time has long since passed, the 7 rules apply as much today as they did back then especially this year with the indexes struggling to set new all-time highs.
1) Put Selling Can Provide Total Control Over Assignment
Here’s another strategy article open to all investors. As members know the majority of my portfolio is based on selling put options for income. One of the major concerns investors have who shy away from selling put options, is fear of assignment of stock in pull backs and downturns. Many investors definitely fear selling put options when markets are trading at historic highs, such as we have seen this year.
This article for investors looks at how Put Selling can provide control over assignment during market crashes, collapses and even bear markets.
These articles are for members only.
1) 10 Ways To Regain Investing Confidence
This article for members which is also from 2015, was during a period of turmoil when many analysts predicted the market volatility was signaling the end of the bull market. This also happened earlier this year when the markets pulled back and a lot of investors took some losses, worried that the market was going to correct deeper. These 10 tips are of value at any time.
2) Can An Inexperienced Investor With A Small Account Earn Decent Profits
Another article for members from 2016 was written around questions from an investor who wondered if lack of experience and a small account would impact his ability to earn decent profits. This is a question I am asked often and this article lays out some ideas for novice investors and those with smaller portfolios on how to begin or expand their investing.
Enjoy the rest of the weekend. I will be writing more this weekend so come back and check this evening for some trade ideas to start off next week.
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