It was a very volatile week! Markets sold off to start the week, but, rallied back to record territory to end the week! It was truly amazing! We have been staying mostly in cash, because it looked like stocks were heading for a pullback. They did pull back. But, once again buyers drove them higher!
We had a nice week and our portfolio is back at all-time high again! Our puts on POST scored a +112% profit. Here are the closed trades for the week:
For the week, the Dow was up +81.45 points; SPX added +6.63 points; Nasdaq gained +44.74 points. Gold had a huge week, rocketing up to above $1225/ounce. Oil (WTI) traded slightly higher, closing just below $60/barrel. At the time of this writing, Asian markets were mixed. Here’s how the US markets closed on Friday:
SPX
SPX added +1.63 points to close at 2122.73. Its daily MAs and MACD turned up.
Nasdaq
Nasdaq slipped 2.5 points to close at 5048.29. Its daily MAs and MACD also crept higher.
On Tuesday morning last week, it really looked like the markets were about to pull back further. But, one hour into the trading, buyers came in and started driving things back up. It was as surprising as it was amazing! For the new week…
