You owe it to your trading/investment account if not anything else
Well, this week President Trump dropped another potential surprise on the world with his ban on citizens from 7 countries which have global markets on risk-off mode today with most Asian markets lower, EC markets also lower and our futures indicating a red open as well.
To recap, Trump has signed the repeal of Obamacare, tore up NAFTA and TPP, signed a bill to build the wall, now banned people from entering our shores, and so what's left for him to do? Start trade wars and on the positive side lower corporate taxes, and allow for repatriation of overseas money for US corporates. One major negative left and two major positives. Timing is the key there though. Until last week I was under the impression/hope that maybe Trump would see better of going after every single thing he talked about in his campaign bluster. Now it seems just in a week he has come through on the worst of his promises. On the flip side, it means now maybe, he could come up with some positives like the lowering taxes and repatriation.
As far as our performance in the week goes, we had terrific week going from a negative return 4% YTD as of last weekend to a positive 21% as of this past weekend and for 2017. The account I have set up for the site has a current liquidation value of $324,506 as of Friday closing prices. Not bad considering the account was funded with $100,000 on Feb 1, 2016, no?
Tech is still not completely back or at least not convincingly enough. We had the "miss" from Google otherwise our week would have been even better. I am still not pleased with my overall performance and I expect going forward there remains a lot more work to be done. The year has started out as volatile as the last many years have been and like I have said, making money in this environment is tough. However, this is why we are all here. "Together we will all get there, where there is for each of us."
Our basket of Chinese stocks are not acting very well with the Trump threat overhanging heavy on those names however I still expect 2017 will be the year of Chinese stocks to come flying through. I will have to, maybe, make a few moves in the names that we own in that basket. Extending expirations being one of them and/or equity positions as well. I am aware that I will have to clear some room in the portfolio if I were to add equity shares.
Last week, I added equity shares in Google/Alphabet and Amazon although I might make a few moves in those two positions this week. WE also sold some options positions, in GOOGL, AMZN, FB and MU last week while adding/opening options in further dated expirations/strikes in all four. This week will bring us to the meat and potatoes of techland earnings with Amazon on Thursday, FB on Wednesday and Apple reporting tomorrow (Tuesday) amongst a slew of others.
For your reading pleasure (if you like that is).
Our futures are down this morning as most Asian markets were lower as our EC markets as investors globally seem to be in risk-off mode (at least this morning) as they mull over the ban from President Trump.