In my last post I had mentioned that I am not that bullish as market was was walking on a thin Ice and was weak. I could jump on or it could roll over.
However as we always do, we allow markets to tell us and then we act. During the week on 1st Dec, it showed us that it wants to go higher and gapped up after creating a very bearish sign on November 30. It gapped up 14-15 points (SPX).
With that bullish sign, I got fully invested in the ETFs that we had on our weekly selection list. Also in some of the regular accounts, I got fully invested with stocks. The name of the game was to get fully invested in all accounts.
Weekly Performance Review:
Top 5 ETF last week were
***********************************
ETF Weekly gain
***********************************
1. AGQ – 19.48%
2. SOXL - 12.29%
3. ERX - 15.44%
4. TNA - 10.08%
5. PALL - 13.11%
--------------------------------------------
Cumulative return of 12.49%
My personal returns were a bit muted and were at 5.01% in line with my KOL ETF which did 4.65%
There is no change in this week's Top Picks Weekly ETF
TOP ETF for this upcoming week are as follows:
I continue to hold these names as we go ahead.
1. AGQ
2. SOXL
3. ERX
4. TNA
5. PALL
We will track these top ETF again next week.
Some points to consider... On SPX, the overhead resistance is at 1125 that we highs that we created on Nov 5. So markets might hang around that or try to shake out.. but as long as we are above the 20 day MA which is now at 1200 (the previous resistance that turned support) we are fine.
I am going on vacation this Tuesday and will not be able able to track markets till next Saturday. But with all stops in place and markets in the bullish mode.. I am not that much worried.. Usually I sell all the positions when I am taking a break but this time I will let the positions ride, since all of them are in green.
Good Luck and hopefully Holidays Spirits enlighten your portfolio and trading accounts.
