THE NEW YEAR

“So this is the new year, and I don’t feel any different
The clanking of crystal, explosions off in the distance” – Death Cab for Cutie

It’s been relatively smooth sailing over the past few weeks as the market was quiet for Christmas and is now right back on track for more highs.  I felt like there was tacit approval by wall street to take some time off for the holidays and then get right back to it in the new year.

Personally, I’m thrilled for 2018.  B is at an awesome age right now and it’s a blast to see him learn new things every day.  He has a great sense of humor even if some of that is potty humor.  I also feel like I’m learning new things everyday and starting to hit my stride with trading.  I’m comfortable with how I’m allocating funds across different strategies and I’m also in the process of researching a few new ideas to bring along.  Results have been solid so far and I expect that to continue.

Speaking of.. December results are now up – RESULTS.  It was another great month with an overall gain of 10.7%.

Here are my current open positions at the moment.

XIV – Currently right at $143 which puts me up 33% in 51 days.  No plans to close position unless my indicators start showing signs of weakness.

CL (Trade 14) – My trade on crude oil is currently up 4.1% after 16 days.  I did make an adjustment to move in the upper wing of the butterfly as CL started moving up after some instability in Iran which is one of the world’s largest producers.  This adjustment was simply a put credit spread swapping out the 60’s for 59’s. The strikes are now 59-57.5-54.  What this adjustment does is increase the risk on the downside but decreases upside risk.  The right side of my profit tent is now well above zero at expiration which you can see below.

SPX (Trade 15) – I’ve made a similar adjustment to my position in SPX by bringing in both wings.  Again, this raises the right side of the profit tent almost ensuring me profit on this trade.  Strikes are now at 2690-2665-2610 and I’m currently up 1.4% after 15 days.

I’ll probably be closing down the CL and SPX trades over the next 1-2 weeks and will update then.