The following information is for educational and entertainment purposes only. Rio Verde Trading and the author make no claim that anyone can or will achieve similar results in their trading.
A trade setup in IWM, the ETF which tracks the Russell 2000 futures contract, occurred Thursday February 23. Friday, the 24th, IWM market action confirmed the trade.
February 24: Bought to open 40 IWM at 138.66, net $5,548.40.
February 27: Sell signal, sold to close 40 IWM at 139.90, net $5,594.00.
Net Profit $45.60, ROI 2.55%.
2017 is starting out to be a good year. The market volatility is what makes the difference and I expect this volatility to continue. I am still anticipating the real possibility of a serious market correction. See the many articles I link to on the Home Page by Faber, Greyerz, Cashin, Leeb, Stockman and many others, all predicting a serious market correction. As Doug Casey would say, just because something is inevitable does not mean it is imminent.
So I continue trading, keeping the size of my trades small so that a serious loss will not hurt too much. I am also short the S&P 500 and heavily invested in gold and silver mining stocks, which are out performing everything.
It is also encouraging to remember that The 74% Solution trading system performs best in bear markets. It is an excellent contrarian trading strategy, so bring on the Bear!