• Portfolio Management for July 21, 2014

    On Friday, I bought a long TBT and a long TNA position at the open.
    The TNA position was closed as IWM was meeting resistance.



    Later on, I took a short S&P500 (SPXL) for the same reason: resistance on a negative divergence.






    I also closed the long SCO position when I noticed that large players were not selling oil.



    As can be seen below, I now have a long TBT and a short SPXL. TBT has an Average True Range (ATR) of 1.73%, while SPXL has an ATR of 1.98%. This means that the Portfolio is slightly more short than long. If the market breaks to a new high next weak, the SPXL short will be covered, but TBT should do well. If the market is weak against next week, then the opposite will occur.

    I intend to keep the position that works.



    The trade ideas for Monday are below. On the long side, LEN and KBH look interesting.
    On the short side, as usual, I like to short weak bounces.