The amount of noise that came back into the market the last two days is excessive. The number of turning points in the stock indexes was extreme today as there was an extreme effort to support the 2024 closing prices. The bulls would love to have a positive January and so they can say, "As goes January so goes the year", especially after a failed Santa Claus rally. The white line and red arrow represent the 2024 Closing prices. I believe the market needs a healthy correction. Healthy corrections are normal. The excessive liquidity participating in dip buying continues to pre-empt a normal pullback and is the reason we see so much chop the last two days. Yesterday the Nasdaq had 5, 100+ point bounces off the lows.
It was one of the wildest TRINs for the Nasdaq 100 that I have seen in awhile and the Nasdaq continued to expand its highs and lows with wider and wider swings with very divergent price action.
The One Million MNS 87 was down -1.9% while the 250K Portfolio was down -$3,800. The trading today puts us down -1.2% on the month. All Nasdaq strategies were down on the day. The One Million MNS 87 dropped back to near its worst-case drawdown at 34K out of 38K. It is 4K from its worst case drawdown. We will work for a Friday bounce in the account equity since the market is closed tomorrow during the day (but open tonight). I am adding Bitcoin NightTrader to the One Million MNS by trading 10 Micros per One Million which is equivalent to One Bitcoin. This decreases our risk to worse case drawdown and we will sync up with the other Bitcoin strategies when adding them meets our drawdown entry alert.
Crude Oil V-Reversal was a highlight in this portfolio for a recent addition, capturing about 1K per contract on a short trade. The other strategies in Crude were down on the day and there was a net loss in Crude Oil overall.
The hypothetical results for the Stock Index Portfolio 24 were -$4,195 per E-mini and -$396.75 per Micro. The highlights for this portfolio were the Bitcoin strategies capturing +$4,330 trading 10 Micro Bitcoins on the three strategies with some nice shorts in V-Reversal and 60 Minute Breakout. These are strategies we want to add to the One Million MNS 87.
The Top 50 Select was -$1,517.50 on the day in hypothetical results.
The 50K Portfolio was +$2,005.00 on the day in hypothetical results.
Tomorrow the markets are closed for a National Day of Mourning for Jimmy Carter. The markets are open during the night session tonight and the close at different times tomorrow for the day session, re-opening at 5pm CST/6pm EST for Friday's session. Friday's session will include a Jobs Friday economic report in the pre-market.
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