A quick blog today to say hello and give you my views on the week ahead. Firstly i am now back from my holidays and fully engaged. Last week was a great week my tweet on Sunday of last week was this.
Hi All. "Back from holiday. US markets closed for labour day tomorrow. Will post some comments Monday but broadly looking for short term sell off next week. Don't forget quarterly futures expiry on 21st Sep. TI" - well nailed it! and £5.3k on the week was a nice welcome back.
The annoying part was i was up £8.3K at one point as for some reason i had decided to go all "Charlie big potatoes" and have quite a few big positions. I still need to work on my exiting of trades at levels that i believe will be hit, rather than getting out to early, had I a kept some of these big positions it could well have been a £15k week. It is always difficult making the decision to run the trades or take the cash!
To keep this brief for the week ahead it's 9/11 and OPEX quarterly expiry. This has been mentioned on twitter by some and I agree with their sentiments that this is usually ! always almost a green week. I expect still / would like to see ES_F hit 58/60 (maybe sunday overnight) or into mid morning Monday) and then bounce into Tuesday and hopefully 2900 for the opex close on Friday. If we get above 92 and consolidate then new highs could be achievable. Note monthly pivot is 2870 this needs to become and stay support. I have mentioned the FTSE this week and missed the 225 buy on Friday after the close. I would still like to see 210 but might not get it. I do see it moving much higher over the next month or so. Having called the DXY correctly and gold over the past few weeks very well, I am now sitting and waiting as inflections are abound and no doubt the supposed new Chinese trade tariffs will heavily affect these instruments.
I am now up 700% £35K from the start up of £5k in 3 months. Being British I am not particularly fond of self promotion (stiff upper lip etc) but i am stuck on 157 followers on twitter and have been watching others ... with envy .... rack up the numbers. So if you think i am doing a good job please give me a shout out! If you think I am not or need to change my message then feel free to give me feedback. Regards TI