1,900 on the S&P, 16,600 on the Dow!
The month isn't quite over yet but we're up about 3% for the year now although, as Dave Fry points out, on record low volumes – which makes the whole thing sort of suspect.
It seems contrived but those that can engineer a new record SPY close were able to get the job done Friday.To some extent, we've sat out this "rally" as we moved to mostly cash last time the S&P tested 1,900 and we're certainly not true believers just yet. Nonetheless, our virtual portfolios are well outperforming the market despite having very little of our cash committed. Our $500,000 Long-Term Portfolio is up a whopping 12.5% for the year ($62,500) with $499,650 of cash remaining, while even the more bearish $100,000 Short-Term Portfolio is up 0.7% ($700) with $83,840 left to deploy.
That's because we're teaching our Members this year "Don't Gamble With Your Investments - BE THE HOUSE – Not the Gambler" this year. Our key strategy where use options to sell risk to others, which gives us an excellent probability of making good money in up, down or sideways markets. Clearly, we've had a little of all of that this year!
We have the modest goal of making 20% a year, which keeps us on track to turn $250,000 into $5,000,000 in 15 years - allowing us to retire in style.
We have also been constructing a new Buy List (part 1 and part 2, so far) for our Members, our 20 favorite post-earnings bargains. Those are our "official" trades but, at Philstockworld – we're all about teaching our Members HOW to trade – using the principle of "Give a man a fish and you feed him for a day but teach a man to fish – and you feed him for a lifetime." Not only does it benefit our students but many of our students become masters themselves and enrich our trading community over time.
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