First the P/L for yesterday's TLT and an AAPL put.
At the fill for the AAPL Puts, it's about a 15% gain
Like I said a couple of days ago, in this current market environment, we build out longer term equity positions and use guerilla hit and run tactics, in and out. Don't try to be a hero with the volatility coming our way.
Here is the current sentiment from our member who sends me updates, it seems No one saw this coming, which explains our rank for the Options Tracking Portfolio:
No one on my stream saw it coming. NO ONE!!!
"Rolled over calls to next week.
I was playing for a gap up in Apple this morning. I did not expect the overnight market/Apple dump.
and on and on."
Well, I'd say that "No one" saw it coming wasn't exactly true, but we're rarely on the stream. Again, you might be sick of hearing it, but one of my idols, the greatest equity traders that may have ever lived, Jesse Livermore from the early part of the 20th century (during the 1929 Crash) said (and I paraphrase),
"It wasn't me being right on the market, a lot of people were right, it was my sitting that made me money"
Meaning Jesse stuck with his convictions and wasn't run off by emotions and price which as I always say, "Is deceptive". Other traders weere right too, they were just run off from price/emotions.
There's immediate gratification and then there's trading and investing with the big picture in mind, I try to give you a little of both.
Our weekly gain doubled since yesterday and the monthly even, for the entire month of May, despite having a couple of worthless expirations last week, is way up there too.
This week's rank, #4 of 760 portfolios. Remember too that most of these people are swinging for the fences with huge positions so if they are right, they are right big time. Our positions are only around 5% of portfolio value, they are much smaller which means we have a lot more moving in the right direction.
Weekly Ranking
Monthly Ranking
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