Many a times, unpredictable things happen and today was one of the such days. In the morning, market was close to touching 3-year high before it gave up early gains. Support (yesterday's resistance - S&P 1325) held for about couple of hours before breaking down. Market is back below the resistance.
About 75% of the portfolio is in cash to leverage any new opportunities. SPX position is looking great for 7% gain by close of the market tomorrow. No closing trade is required if SPX closes below 1240.
It was great to see 78% realized gain in the account today. As the day progressed, RGLD gave up slightly, but SPY was back in the positive territory. I thought it would be better to count on portfolio gain rather than performance of individual trades and hence the move early in the day to close positions. FAZ brought additional 17% intra day gains.
Fantastic-5 Ahead: Market usually goes higher on the last 2 and first 3 days of the month (let's validate again next week). I see higher prices next week.
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