Account Update
It was a good week, even though I made a slight loss of -0.25% on the account, as I followed my plan and didn't make any mistakes. I exited GKN after a downgrade from Citi near my stop loss and took profits on Barclays as the daily chart was showing weakness when the broad market was rebounding. I was expecting a short term bounce on Friday so I played the DAX from the long side intraday and made a nice trade. But I think the market will roll over again next week so I chose one of my watchlist picks (IRV.L) that was looking weak and went short near the close Friday.
Closed Positions
GKN Plc Jun 11 Spread: -9.29% (Account P/L: -0.50%)
Germany 30 Rolling Spread: +0.34% (Account P/L: +0.30%)
Barclays Jun 11 Spread: +1.94% (Account P/L: +0.07%)
Open positions
Interserve Mar 11 Spread: -0.90% (Account P/L: -0.03%)
Performance
Relative performance against the indexes was good this week. I did 1.70% better than the S&P 500 and 1.17% better than FTSE 100. Below is the details:
My SB Account
Week: -0.25%
YTD: -0.99%
S&P 500
Week: -1.72%
YTD: 4.95%
FTSE 100
Week: -1.34%
YTD: 1.72%
That's almost February over. So it looks like I'm going to finish the month in profit as I'm currently 0.28% up for the month, unless Interserve gets stopped out on Monday.
According to my historical seasonal analysis of the S&P 500 the first week of March is very weak, but the second week in March till the end of April is a great time to go long stocks with an average 3% move in the index. So, I'm going to be looking for stocks that had good relative strength at the end of last year and have sold off since then, but that are now looking promising again. Antofagasta is a good example that I'm watching.
Have a good week
Below are the charts and this week trades spreadsheet