Meta-Trader - Equity breakout!

Welcome back Meta-Traders. All the best to you and your family on this holiday weekend.

It was spectacular week in equities and particularly technology stocks. My equity portfolio rose about 3.3% for the week and pushed out to a new 3-year high.

A big winner was Apple Computer. I've been a Microsoft guy my whole life, but I recently purchased an iPad for myself and an iPod touch for my daughter for her birthday. Based on that, I went long into earnings this past week and caught a nice bump when earnings were announced on Wednesday. Earnings Per Share were up 95% from the same period last year. Nothing lasts forever, but AAPL has clearly become an economy unto itself with market cap at 400B second only to energy giant Exxon-Mobil. Analysts see easily another 100 points of upside in the shares in the next year which is about 30% upside from these levels.

Adding on is the fact that AAPL has a relatively small market share of the smart phone and personal computer markets. Despite fierce competition from all sides, Apple's products are in hot demand in the US and every other market where they do business.

Also on the technology front, we also had breakouts to new all-time highs in WM-ware, IBM and movie streamer Netflix. Outside of technology, we had new all-time high breakouts in OPEN, and Yoga-pants maker Lulu-Lemon (LULU). Yoga pants? That's right, who would have thunk it?

On the Forex side, it was a ho-hum week with no breakouts to new equity highs in my live accounts. EUR/USD had a a zig-zag week diving down to 1.4185 on Monday fueled by the threat of a downgrade in US government issued debt. After that, EUR came back to end the week at a new high for the year. Asirikuy systems did not do particularly well in this environment, but didn't lose much either. It was one of those weeks when the human currency traders probably did better than the robots.

One exception was COATL EUR Centered Portfolio which moved out to a new equity high and has another 900 pips in open, unrealized gains. Taking a look at Asirikuy, nearly every one of the COATL accounts are up nicely. I can easily imagine putting another 10K to work on a set of Coatl portfolios. More to come on that front.

On the Forex development side, next up is a review of Sapaq, Asirikuy's first counter-trend system.

Have a great Saturday and check back on Sunday.