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The week it was (+0.6%)!

Published on July 28, 2007

The week it was (+0.6%)!

July 28, 2007

(for details pls visit www.OptionPundit.net)

market-movements-wk-of-072307.pngWhat a week! Most of the major markets were down. Dow closed little over -4.6%, Nasdaq almost the same, S&P500 dropped little over -5% and RUT was the hardest hit dropping over -7%. Interesting! I mentioned about black swan out of nowhere last week, though this is not black swan, but 4 to 7% drop is quite interesting. My weekly gains, +0.6%.

Personally, this was a great week for me for two reasons- 1) Markets were dropping and 2) I was travelling and when I combine these two points with out-performance vs. broader markets, that tells me I am becoming a better trader.

Since I have stopped OPN for a while, so there is no point talking about details of the trades (for the skeptics, those trades are on the forum but access is not provided. This will be opened when I restart OPN and subscribers can see the performance). My overall capital gained by +0.6% this week alone. This is the lowest returns since I started OPN. But hey, it is still out-performance, by a wide margin.

Apple earning experiment was also successful. Apple was a great teacher and it gave me two good strategies for my toolbox to take advantage of. Albeit, these can be used only once in 3 months.

Most of the markets are in for an interesting time, enjoy the ride,

Profitable trading, OP

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