Weekly Profit Recap
The Fourth was with us this week. May the 4th turned out to be a great momentum boost for the stock market as buyers finally seemed to be stepping in. Multiple stocks from the launch list triggered and hit the profit targets and beyond. This week we realized the best weekly profit on the $2.5K challenge to date pushing the portfolio closer to the $10K point.
This was a slow week as I was busy with other house projects. Most of the launches were from prior weeks and the only single list published this last Friday 4/27. Despite being slow, we still ended the week in the green with 4 total launches. Two launches were profitable $UNIT and $GNMK while the other two were losers $DBD abd $ETP. Accuracy fell to 50% but the profit/loss ratio was 218% which is high, giving us another green week.
After a volatile week with the $SPY jumping all over the place, the $2.5K portfolio suffered a red week with a total loss of $109.70. This was the first week in the challenge where the share size per trade was adjusted to account for the new equity level of $5000. There was a lot of activity on the Launch list, with 19 total launches but it seems that by the end of the week nothing has been accomplished. This is normal in trading and you should not expect the profits just to roll in without some setbacks.
This was a short week ending on 3/29 due to the market being closed on Good Friday. Over the span of the four trading days, there has been 15 Launches with 11 profitable and 4 loosing launches.
A second re entry on $JAG was by far the most profitable Launch this week. If you are wondering why I choose sometimes to attempt a second launch that failed the first time I can tell you that it really depends on the actual underlying stock and the price behavior. In the case of $JAG, it was the price action premarket and how the Level 2 quotes looked like two days in a row.
This was by far the best trading week for the launch list since the start of the year and the start of the $2.5K challenge on Dec 8th of 2017. Despite a choppy start of the week due to the resignation of the white house's economic advisor the market pulled through as tensions on the Korean Peninsula seemed to have been temporarily cooling off.
We published multiple launch lists this week and ended up with great accuracy.