Welcome back Meta-Traders.It was another rocky week in equities as world markets sloshed around looking for a bottom. Stocks seem to pause, find support, and try to mount a rally only to spike to the downside once again. As you can see from the chart on the left, my 2 main equities accounts are now in the red for the year, down between 0 and -1% with the S&P holding onto a 0.75% gain. About the only good news is that the gap between my account the S&P 500 has narrowed due to my high cash position.
As you know, I'm mostly a tech investor, and this week was not kind to technology stocks. I tried to go long APPL once again and got spanked to the tune of about 8 points in a 3 day period. After many months of being conditioned to buy at support for a quick bounce, it didn't work out this time and I went into the weekend flat. As it stands, AAPL is sitting right at $320 and we could easily see $310 or even $300 before we see the old top at $365 again. Its almost ridiculous because APPL is trading at a PE of 15 with almost a 100% annual revenue growth rate. If this were valued like any other tech stock, AAPL would be trading at $600 a share. Amazon (AMZN) tried hard to shake me out, but i'm hanging in on the long side.
Contributing to the tech swoon was Research in Motion (RIMM) which tanked 20% on Friday alone. Fortunately, I steered clear of this one having been burnt on an earnings disappointment about 10 quarters back. On the subject of Canada, we saw rioting in British Colombia after the Vancouver Canuks lost to the Boston Bruins in the Stanley Cup Finals - a rare case of Canadians behaving badly.
On the bright side, Forex Robots had another bang-up week thanks to favorable market conditions for many systems i'm running. Adding up results from all 7 live accounts and i'm up about 22% for the year so far, with most of the gains coming from Atinalla #1 and Atipaq full portfolio. Now just image what a difference it would make if 98% of my funds were in Forex rather than the 2% I have now? That could add up to some serious cash.
A little bit of mental arithmetic and you can see why i'm so pumped up about this topic. And what could be better than computer algorithms making you serious cash 24 hours a day, 5 days a week while you get on with your life? Okay, i'll come down off my soap box now. Let's do the numbers.
The screaming winner of the week was Atipaq Full Portfolio which screamed higher, up 11% on the week alone. What's more this portfolio is now up a stunning 53.59% on the year!
Next was Forex4You Challenge which picked up over 7% for the week and is now up a respectable 23.11% on the year. Remember this is a penny account with only about $100 at risk. All of the other accounts are real $.
On the downside, Atinalla No 3 dropped about 4% on the week and is now the only one of my accounts showing a loss for the year.
All of the other accounts were up or down in the 1 to 2% range, so they are really not worth discussing in any detail.
I have some time for development today, so check back on Sunday for another post (possibly) and have a great weekend.
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