It was a down week across the board in the portfolios. Friday's job report, which was better than expected, had the metals and currencies taking some steeper than normal dips. Bonds also dropped and the stock market stayed in its very narrow tight range.
Some of our long E-mini S&P trades finished near break even as the market seems poised to rally based on low volatility at all time highs. Typically when a market sells off, there is usually more volatility at the turning point. You have to consider "don't short a dull market" (one of those long term trading axioms) in this case.
I used this concept to get long some more Bitcoin around 2800. After the hard fork between Bitcoin and Bitcoin Cash, the markets were relatively quiet. We tend to see bigger trends occur on weekends in the crypto currencies and Bitcoin has been in rally mode since Friday night and currently near 3300 on Poloniex.com. My Conigy.com chart of Bitcoin is below the weekly results.
The 100K Portfolio was at equity peak on Thursday and after yesterday's trade, it is in a $3,200 drawdown. This can be a good entry point if you like to get in after a drawdown instead of at equity peaks. Getting in at drawdowns can can buffer any steeper drawdowns or worse case drawdowns.
The results below are hypothetical results based on the trading system signals. We don't trade all systems all of the time and do use some discretion when determining which strategies to trades. Some of the trades shown may be taken while other may not be taken. The information here should be considered informational and educational and can represent how our trading software operates on different platforms.
For the purpose of this blog post: All trades presented are NOT LIVE TRADED IN A LIVE ACCOUNT and should be considered hypothetical.
This is not a recommendation to buy, sell, invest or trade in Bitcoins or Crypto Currencies. It is an example of how quiet markets consolidating at all time highs can move higher. One thing that I like about the crypto currency markets is the fact that there is no central bank intervention and there is a tendency for the markets to trade more freely and naturally. You can not currently short the crypto currency markets though.