Quite the eventful week went through with the Fed yet again (second week in a row) injecting massive uncertainty into the markets. This will more than likely continue this week with four Fed heads up and about making their divergent and totally confusing comments before we have the payroll data on Friday for August. This NFP data on Friday is the last one the Fed will see before the meeting at the end of September. I think the odds of a September rate hike are almost none although the Fed funds futures are predicting a 33% chance of a rate hike in September, up from 21% the day before Yellen's speech and a over 50% chance of a rate hike in December, also up from the 40% chance earlier.
Our portfolio gave back around 3.5% on the week as the mega cap companies we own (Google, Amazon, Apple, Netflix, et al) basically spun their wheels/declined slightly all week. I sold 500 FIT shares at prices north of $15 although I am looking to pick up more calls on the name. As far as additions I added to the call positions we own in Twilio and Apple and I anticipate we will see some opportunities to add more to the portfolio this week. Tesla continues to act weak and I have a decision to make there this week. It's a tiny position for us but still have to decide at some point and soon.