Profitable Trades In Horrid Market
Ryan Mallory | Feb 08, 2016 12:23AM ET
It was a horrid week for the markets.
Check out how the current portfolio is shaping up. While the S&P 500 was down over -3% for the week, my trades were profitable.
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I'll be the first to say, that I was a bit irritated by the Goldman Sachs (N:GS) upgrade on Friday that pretty much stifled any opportunity to see a heavy drop in the financials, much less in GS. UBS upgraded a stock in an industry that is facing so much headwinds, that the notion of upgrading a bank of any kind at present moment is mind blowing until the energy crisis blows over and the bank's debt exposure finally understood.
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Nonetheless, Friday was still nicely profitable for me. I added Oracle (N:ORCL) after much of the market's drop had already happened, not expecting a major move then, but preparing for a larger move to the downside in coming week.
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So over all, I am pumped for the coming week, and nimble enough to where if the market doesn't go in the direction of my trades, I can quickly adapt to the current sentiment.
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