Friday, May 27, 2011

Meta-Trader - Memorial Day 2011

Welcome back Meta-Traders.

Summer has arrived here in North America and after a long and nasty winter and a wet spring, I say bring it on!

Its a good time to pause to remember all those who came before us who have sacrificed to allow us to share the peace and prosperity we have today.

As for the markets, it was a rocky month for trend followers with major, multi-month trends in Gold, Silver and the USD coming up against some nasty reversals in the month of May. On the equity side, major indices, SPY, and DIA completed their 4th straight week of declines and a modest rally in the past few days didn't help much to reverse the weekly trend. But we had some good action in Equities and Forex, so let's get to that.

As for equities, I went into the week with a high cash position. Monday there was red all over the board which is typical for the Monday after an Options Expiration. AAPL came back to support at the $330 area so I picked up some for a move back to the $335-340 area - a repeat of last week's trade. The bottom formed just as I expected, and AAPL rallied back and I sold the shares later in the day for about a 3 point profit.

On Tuesday, I noticed that Netflix (NFLX) was coming up against its old high at $250. I smelled a breakout and even tweeted it at http://twitter.com/tcxmon, so I picked up some in the $251 area. I was a little dissappointed to see it close the day at $247.60. On Wednesday, it came roaring back and closed the day up 9 points to about $259! Thursday it roared higher and I closed the position at about $262, up about 11 points in a mere 2 day period!

In retrospect, I probably closed the position too early since it closed the week at $264.50. But I saw a similar opportunity in AMZN and went into the weekend loaded up on the long side. This is a longer-term story and I think Amazon has the look of a winning stock. Give it some time.

As for Forex, it was a spectacular week with nearly every system showing solid gains. Let's do the numbers.

Atinalla No3 picked up about 2% for the week and is up 28.59% for the year.

Not far behind is Atipaq Full Portfolio which picked up about 2% on the week to a new equity high up over 42% year to date.

Next up was Megadroid Live which picked up about 1.2% on a pair of profitable trades.

Next up was FX-Regression which picked up 4% for the week. This system has been on an unholy tear and picked up 15% for the month. This chart of USD/CAD tells the story - sloppy-sideways action that is perfect for FX-Regression. Just a reminder - FX-Regression is free for download to members of my Yahoo Group at FX-Mon. Just request a membership and i'll sign you up.

Next up is Atinalla FE which picked up about 1 half percent on the week.

Closing out the live accounts, Atinalla No3 and Atinalla No4 were also up, but in unspectacular fashion.

Finally, Coatl EUR Centered Portfolio peeled off about 3% for the week - which was not unexpected given its incredible run up to now.

Over at Asirikuy, Daniel continues to churn out new systems faster than I can review them. Next up on the Asirikuy review series is Amachay which as I understand is a counter-trend system. Check back later for that and enjoy your holiday weekend.

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