It's always something.
I told you yesterday in "S&P 2,000 and Bust" that we would get rejected at the 2,000 line on the S&P 500 (/ES Futures) and, because we were not greedy and were just looking for quick profits – we had two chances to make $500 per contract in yesterday's trading. Our non-headline trade ideas (all delivered to you, pre-market, in the morning post) did well as well including:
- S&P Futures (/ES) short at 2,000, out at 1,990 – up $500 per contract (twice)
- Dow Futures (/YM) short at 17,000, out at 16,950 - up $250 per contract
- Nasdaq Futures (/NQ) short at 4,350, out at 4,775 - up $1,500 per contract
- Russell Futures (/TF) short at 1,080, out at 1,085 - down $500 per contract
- Nikkei Futures (/NKD) short at 17,200, out at 16,700 - up $2,500 per contract
- Natural Gas Futures (/NQ) long at $1.62, out at $1.72 - up $1,000 per contract
The Russell was just weird and certainly you can't win them all but hopefully our Trade of the Year on Natural Gas (detailed yesterday as well) is finally getting back on track after yesterday's big move. As I said, I've been banging the table on that one for some time but it's possible that UNG moved simply because we were talking about it and not just because we had perfect timing – that's why it's good to pick up side money on the Futures while you wait for your longer-term plays to develop.
Anyway, it's not that we went bearish, per se, it's just that the markets went up too far, too fast – so we called an audible and hedged our longs. Our Long-Term Portfolio has gained 24% already this year as that one (our biggest) is all bullish and even our Options Opportunity Portfolio, which had been suffering from a mistake we made last quarter going bullish too early, has now nicely recovered and is up 19% since it's 8/8/15 start date – not bad for 7 months but still 15% behind schedule, though we have lots…