Wow! What a month we had in the markets. It is now done and over with and February is right around the corner. On the week, all the indices finished down with the Nasdaq being the worst of them down 2.63%, followed by the S&P down 1.64%, and finally the down down 1.04%. It was a quiet week for me, only pulling off a couple of trades – both of which were intra-day trades (one in QQQQ and the other in SPY). As a result I finished up 0.4% – not much to write home about but better than what the markets did.
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On the year the Dow, S&P, and Nasdaq are each down 3.46%, 3.7%, and 5.37% respectively. I am up an even 1%. Most months I would be somewhat disappointed in such returns, but quite honestly this has been one of the quietest months of my trading career. I closed out all of my carry-over trades from last year, and then managed to place three intraday-trades. That was it. So considering the circumstances, and the inability for me to get into any new positions, I find the positive 1% gain on the month acceptable.
I hope you have also managed to stay in positive territory this week as well. This has been a strange month of trading no doubt, but brush off whatever battle wounds that you may have and get ready to take on the new month that lies before us.
Happy Trading everyone.
