Another interesting week ended on a positive note, or at least for my accounts. All the trades (PCLN, NFLX, BIDU and others) this week were successful and we made lots of money this week. In one account in which I have been trading weekly spreads, I made 11.67% return this week. This account has reached 80% return in exactly 8 weeks! But this week wasn’t without surprises. I was a bit concerned when the indexes dropped significantly on Monday, penetrating through many support levels. I admit that I didn’t feel good that evening, although not bad enough to lose sleep over. But the markets recovered quickly, proving those support levels are pretty strong. This week ended with the indexes just above the support levels: a good sign that these support levels hold.
About admin
Richard Cheng, M.D., Ph.D., is an avid Wall Street investor with 20+ years of investing experience. He is specially adept at observing the world to find the patterns and then design strategies to win his battle. Most, if not all, happenings in the world, follow certain patterns. These patterns may be complex, multi-factorial, not so intuitive at the first glance, or even may appear chaotic. However, even chaos has its own patterns. If you pay attention and be patient, you'll find them and then you will gain an upper hand in your battle. Using this blog space, he documents his trades and his thoughts as they happen. He uses this blog as a a notebook to help him better refine his strategies. Hopefully this will help you as well. Good luck in your trading.
