The tape is o.k.!

Not blazing but o.k.

Got a 2.45% drawdown the last couple of days. $TLT did not help yesterday, but thats expected, the hedge will not always work. I keep it on.

Sold $METC too early, I got a buy signal on 26. August via my screener, but missed it.

Well, I adapted the process: First of all, I will check the screener daily and buy back a stock that I sold when it consolidates, and EPS estimates curls up again (or simply not selling if this is the case, if the tape is o.k.). Second, I put all my strong systems in one book, which means around 65 stocks right now and will check the eps earnings development daily. 45 min. of work a day, you do not find a stock every day, but if you do you have a high probability set up.

The market is fine, see below. If that system is pulling of a new high (red line) even the Russel 2000 is only hanging in there (blue line) we are in good waters.

Even energy small cap stocks put in a new high.

So, all in all we are fine.

Also check out the following site:

https://www.factset.com/podcasts?__hstc=233546881.5a6e7b338a9b21292875da89983b22c1.1614606346404.1614606346404.1614606346404.1&__hssc=233546881.1.1614606346404&__hsfp=1895085607

At the bottom of that site, you find a podcast FACTSET WEEKLY EARNINGS INSIGHT.

Listen to it, we are fine now on the earnings front, earnings still go up and the estimates for Q3 and Q4 get up revisions right now.

Also, China SSE Composite put in a new high, very interesting!

https://www.google.com/finance/quote/000001:SHA?sa=X&ved=2ahUKEwjQ0bTEruryAhUNoRQKHfLXAQIQ3ecFegQIExAS&window=5Y

So, all in all, we are not blazing, but we are o.k.

I still lick my wounds of the $METC trade, same with $SBOW and $GDP, gee, should have checked their EPS Estimates before selling, but hey that’s what trading is about: learning, learning, learning.

Positions:

TLT

QRHC

ICL

GDP (had to rebuy it much higher, geee :-))

MG

DLA

III

HSON

NETI

SIM (check earnings estimates, they are up!)

CDR

IDT (small position)

AFRM (small position)

DOCU (small position)

NANX (small position)

As always, this is no advice, do your own work and decide based on you own work.

Have a great week and happy trading.