With a transition week between the months of October and November, we saw one impressive reversal. October has been no doubt a challenging month, with a lot of technical damage done to the major indices. We suffered three consecutive loosing weeks which was a first for the Launch List process. It's difficult to pin point one root cause for the decline, but one thing for sure appears to be a sensitive issue and that is the trade war with China coupled with the Federal Reserve talking about a continuous increase in interest rates even is they overshoot the optimal levels. As soon as we go
Weekly Profit Recap
What a fantastic week this has been. We hit the largest single weekly profit since the start of the $2500 challenge. We also crossed another key milestone of $125K. There were a total of 22 launches making this another busy week . As some of you may know, we are in the process of developing an automated tool to trade our launch list automatically and expect this to be in validation for the next several weeks. This should make managing the Launch list more smooth and less emotional.
The weekly profit for the portfolio has been going up steadily and this week was a solid profitable one. We hit a significant milestone by crossing and holding the $100K mark. This was also a very busy week as we had 27 Launches with the nightly overnight scanners showing good opportunities. If you trade during the day however, it would seem that the market is on vacation with the lack of volume and volatility. Nevertheless, we plan the night before and act on those plans accordingly.
This week started strong but faltered towards the end. We almost ended the week in the red but managed to take a small profit and remain green. Thursday and Friday saw several Launches fail due to lack of momentum and follow through. It seemed like healthy pullbacks remained that way, a pullback that never resumed the uptrend.
We did however, reach a couple important milestones. First, the portfolio touched the $100K for the first time since starting in Dec of 2017. But, we still ended under that number due to a few loosing launches.
Barely escaped a red week with an afterhour close of one of the launch list stocks $MNK that turned the weekly profit to a slight green week. It was certainly one of the most challenging weeks especially that the share size has been updated to reflect a portfolio size of $45K. The new trade tariffs imposed by President Trump on china have certainly caused more turbulence in the market. Coupled with that is a very low trading volume as we cruise through the summer months. It felt like nothing is working the way it was supposed to. Most bre