9.3 C
New York
Thursday, March 28, 2024

PhilStockWorld August Trade Review – Riding the Rapids (Part 1)

Wheeeeeee! 

That about sums up our August as the indexes dropped all month long - down 800 points on the Dow (5%) and 80 points on the S&P (5%) and etc., etc...  As long-term investors, we know we're going to get a little wet when the market turns down - the trick is to stay in the boat and be ready to ride the next profitable wave.  

As I reminded readers on Friday, I never thought the summer would be worth playing in the first place - calling for our Members to cash out and taking a nice summer vacation way back in May.  Many people took my advice and we've had a pretty quiet summer in chat but now it's time to go back to work - hopefully at the bottom of a bigger sell-off than the 5% we've had so far.  The short story of the Summer is that we fell 5% into the end of June, gained 5% in July and fell 5% in August so here we are, back where we ended May.

That then, had barely any net effect on our long-term positions and, short-term, we were 97 right, 20 wrong and 3 even on our July Trade Ideas (see July Trade Review Part One and Part Two) but we've had little luck with the trade ideas we put in the Short-Term Portfolio, which is currently down a virtual $25,942 but, of course, our Long-Term Portfolio gained back $150,000 over the same time period - so, as a pair, they're actually doing exactly what they are supposed to do (offset each other).  

We don't track our virtual portfolio trades in these reviews - this is for all the trades we don't track - which is most of them, of course.  Of coruse, this is an arbitrary point in time and some trades could have had better (or worse) exits in between - we're not doing this to keep score, just to get an idea of what worked and what didn't in the past month so, hopefully, we can make better decisions this month.

Want to see more?

Reap the benefits of one of our paid membership plans and get access to articles like these PLUS:

  • Insightful daily market reviews
  • Educational guides and posts
  • Access to our Virtual Trading portfolios
  • Unique trading opportunities
  • LIVE trading webinars
  • Intraday market commentary from Phil
  • Our community of traders

Our plans pay for themselves — Don't hesitate!

Join Risk-Free Today!
Already a member? Please sign in.

7 COMMENTS

Subscribe
Notify of
7 Comments
Inline Feedbacks
View all comments

Stay Connected

157,452FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

7
0
Would love your thoughts, please comment.x
()
x