The market traded in a range from 24990 to 25845.
We suggested that due to increase in volatility that clients reduce total contracts traded from normal to 60%.
That strategy worked.
Our daily trend (measured by the daily 20 period moving average vs 5 period moving average — remains down.
We officially called 21 short trades and 8 long trades. Our stops were raised to an average of 26 ticks on the Dow to increased volatility.
We succeeded on 17 of 21 short trades and 4 out of 8 long trades.
Next week we again focus on China.
China’s officials just reported that gross domestic product grew at a slower pace than anticipated for the third quarter. Data released showed its economy expanding 6.5% year-over-year between July and September, compared with 6.6% expected and 6.7% in the prior period.
Let’s make money together.
Help give some back to our neighbors in Panama City, FL