SUMMERY OF 2016 ACCOUNT OPENED AT AUGUST 5

Hi, we started with $25000 and in 5 month our account raised to $30827.04
During 5 month we had 30 trades with 77% trades profitable.
Average win was $286. Average days held was 13.7 days

SELL UCO

Sold UCO for $11.71 with profit of $317.06 on 416 shares

SELL CDXC

Sold CDXC at $3.27 with profit of $95.23

COVER ASHR

• We started to close our trades for 2016.
• We covered short of ASHR at 53.52 with profit of $117.66 on 188 shares

ENTRY IN CDXC ON 27 of DEC

• We entered in CDXC on 27 of Dec 1 tick over the high of previous  candle  .The entry was 2.98- now CDXC is 3.27 not far from our target with 397 shares.The profit now is $93.25
• ALL our 3 trades in portfolio -2 longs and 1 short -are in profit.
• We are going to start a new portfolio for next year with 25000$ us around 10 of Jan and close all our trades  in the 2016 at the end of the December trading.
• Hopefully we will have even better trading results next year and we all wish you happy holidays. 

Still waiting to enter CDXC

• CDXC did not cross the high of Dec22 that was $3, so there is still not entry.Today's high was 2.97
• We need at least 1 point over the previous high to enter
• The profit on short ASHR on 188 shares is $115.78
• The profit on long UCO on 416 shares is $138.14

LONG CDXC

• long CDXC (ChromaDex Corporation) closed 2.96 on Thursday
• Target 3.46-3.66

UPDATE ON UCO AND ASHR

Both open trades in profit at Friday close: UCO profit is $167.30 and ASHR is $36.82

SHORT ASHR

• Short ASHR (Deutsche X-trackers Harvest CSI300 CHN A) now 24.04
• Target 22.33
• Stop 25.75
• 188 shares

ENTRY UCO

• We entered UCO at 10.90 with 416 shares
• Option price UCO170421C00011000 is 1.70

SOLD UGAZ

• We sold UGAZ for 45.30 for profit of  $703.02

PROFIT FROM 25000 PORTFOLIO SINCE START OF AUGUST

• Our total win from start of the portfolio is $4417.25
• Total trades is 26 won 19(73%) trades lost 7 
• SPY up 1.51% and our portfolio is up 16.16%
• Average win is $282 average loss is $108
• Average day held is 12.7

NEW TRADE LONG UCO

• We will enter UCO (ProShares Ultra Bloomberg Crude Oil ) on next trading day. Our target  on this trade is 14.50.
• Now USO is 11.21
• We will try to enter at 11.07 aprx
• Alternatively option call  strike 11 (UCO170421C00011000)1.87

Auph sold

AUPH sold at 4.87

UGAZ ENTRY

• We entered UGAZ 38.48 stop price 36.08 number of shares 106

NEW TRADE LONG AUPH

• Entry AUPH  3.47 amount of shares 1192 stop price 3.25

UPDATE ON CWEI

Our net  profit on CWEI 50 shares is $484.60.  WOW closed too early the price is now 97.51

CWEI

• Closing CWEI at 90.38

NEW ENTRY LONG CWEI

• New entry CWEI at 80.29  amount of shares is 50

GENERAL UPDATE

• Next trading day:
• Exit BOIL  since it triggered our trailing stop price of 17.31
• Exit EWX since it triggered our time stop
• Exit MRC since it triggered our trailing stop of 16.03
• On Oct 10 we had 94.10 profit from EDC what is 2.37% after 3 days
• The only trade in US portfolio is SSNI with trailing stop of 13.60
• We have 2.84% profit in our AAPL call that we still holding.
• All together we had a small loss in our latest trades and our management system keeping us out of big losses.

UPDATE ON AAPL CALL

• The  Feb 115 call entry was 6.50 now it's 7.80

BOIL LONG EXIT EDC

• We exited EDC at eod Oct 10 and entered BOIL at our conservative entry of 17.67

NEW ENTRY LONG BOIL

• BOIL is ProShares Ultra Bloomberg Natural ETF
• Entry is 16.77(aggressive)  or 17.67  (conservative)  
• Initial Profit Target = 21.4200
• Extended Profit Target = 24.7145
• stop price = 15.73 

US PORTFOLIO UPDATE

• We have now 2784.33 profit and  551.07 losses in our portfolio
• Net of 2233.26 profit on 25000 starting 5th of August on all closed trades.
• We had 19 closed trades(win 14 lost 5) with 74%  win ratio.
• We have now 4 entries out of max 5 in the portfolio.
• Comparison to SPY our portfolio is up 7.06% and SPY is down -0.63%.
• We strictly adhere to our stop prices and risk only 1% of the portfolio.
• Most of the time we are 50% in cash.
• SPY now in no man land so the trading is not easy.
  

WE STILL HOLDING EDC

• The stop price in EDC is 63.23, so unless we stopped out, we will continue holding it.The amount of shares is 60. so we can  lose 186 dollars if will be stopped out of position.

ENTRY EDC AS DAYTRADE

• We entered EDC as day trade at 66.00 stop price 63.23 amount of shares is 60

ENTRY EWX LONG

• We just entered EWX long as an aggressive trader at 43.56

STOPPED OUT ON BRS

• We were stopped out on BRS and exited at 14.22 with profit of 267.95 what is 6.65% after 7 days

EWX NEW ENTRY LONG IN US PORTFOLIO

• ETF EWX (emerging market small cap) 
• Agressive entry 43.56 conservative 43.77 amount of shares is 92
• Targets are 46.32 and extended target is 48.43
•  Stop price is 41.05

BRS today is up 9.94%

• Today BRS jumped to the high of 15 dollars, so rely on your judgement regarding partial profits our target is 17.35 good luck Trailing stop at the moment is 14.08

ENTRY MRC LONG

• We entered MRC long as conservative trader at 16.51 amount of shares 242 and stop price 15.49

REGARDING MRC

• We are waiting to enter as aggressive trader at 16.21 and if not than will enter at 16.51

AMCN EXITED AT THE OPEN

• We exited at the open AMCN at the open 3.33.Our loss was 137 dollars

AMCN STOPPED OUT

• AMCN touched our trailing stop price 3.32 so we probably will be stopped out at the start of trading

US PORTFOLIO

NEW ENTRY MRC in US PORTFOLIO

• MRC(MRC Global Inc.) 
• Conservative entry 16.51 stop price 15.49 amount of shares is 242 .
• Aggressive entry  16.21 stop price 15.20 amount of shares is 246.
• Targets are 19.35 next target 21.35

WOW nice entry in BRS

• We were on the spot in our entry in BRS today and now  the price is 13.99 .However, we are not looking for the quick profits, but for steady consistent increase in the portfolio.

EXIT OPK

• We exited OPK at 10.77 trailing stop. Profit 143.07 (3.64%) after 10 days

BRS LONG

• We entered  a new trade in  the US portfolio - BRS. The entry is 13.27

BRS NEW ENTRY LONG US PORTFOLIO

• We are entering a new trade long BRS.(Bristow Group, Inc.)
• Agressive entry is 12.53 conservative entry is 13.27
• Stop price is 12.43
• Target first is 17.35 next target 20.74

OPK TRAILING STOP

• The trailing stop on OPK is 10.77

AMCN long entry

• We entered AMCN as  an agressive trader 3.43 amount of shares 1171

NEW TRADE AMCN LONG

• We are entering a new trade in US portfolio AMCN (AirMedia Group Inc) long 
• Entry aggressive 3.43 Entry conservative is 3.48.
• Stop price is 3.26
• Target first is 4.37 next target is 5.73

US PORTFOLIO UPDATE

• We have now 2 stocks in our portfolio SSNI entry was 13.65 now 13.93 and OPK entry 10.34 now 10.68

REGARDING OUR TARGETS

• We covered UGAZ at 43.80, but it went much higher yesterday to 45.55
• .What we suggest is to trail the price after our target is achieved or to sell half at the target and trail the rest to the higher price or second target if given. (In case of UGAZ it was 49)

UGAZ EXIT AT THE TARGET

• UGAZ sold at 43.80 a bit higher than our target.The profit on the trade is $450.35 inc comm. or 11.35%  Holding time is 7 days.

OPK NEW TRADE LONG

• We are entering a new trade OPK Opko Health, Inc. 
• Entry is 10.34 stop price 9.17 target is 11.51 amount of shares  is 379

AAPL CALL UPDATE

• We have one call on AAPL exp on Feb and its now 11.15% up

ETFC UPDATE

• We exited ETFC at 28.50 what is higher than our min. target. Our profit was $322.30 with comm. what is 8.48% after 21 days.

ETFC EXIT

• We will probably exit at 28.50

GOLD PREDICTION

• There is about a 80% probability that gold will be higher by the end of THE week.

PORTFOLIO WEEKLY UPDATE

• We have 3 open trades in our US portfolio.
• UGAZ entry 39.05 now 41.02  FIRST TARGET 43.18
• ETFC entry 26.14 now 28.10. TARGET MIN 27.17 MAX 30.16 We will probably exit this trade on Monday  depends on the market.
• We also have 1 open AAPL call position in our options portfolio .In our opinion AAPL will go towards 130s
• Portfolio comparison to SPY. Our portfolio is up 5.84% and SPY is down -1.62% since first order on August 5

AAPL CALL

• Our Call in AAPL is AAPL170217C00115000 entry was 6.50 with close today at 6.90 gain with comm is 4.35%.We continue holding it

CANADIAN STOCKS PORTFOLIO

• We are going to open soon a third portfolio that will consist of Canadian stocks.This portfolio will be similar to the US portfolio and will start with  $25.000 Canadian dollars and up to 5 stocks max.

AAPL CALL ENTRY

• AAPL did not come down to our entry  at the open so we changed the strike price to 115 in order to keep our limit to about 500 dollars per trade  and entered at 6.50 at the open now the price of the option is 7.35 ask

AAPL A NEW TRADE FOR THE OPTIONS PORTFOLIO

• We will try to enter a new call trade in AAPL around 110.The call strike price is 110 with expiry Feb 17

OPTIONS PORTFOLIO

• We decided to open a new portfolio of straight option trades.We will invest in stocks that are priced mostly over 50 dollars, with daily average over 1 million  and expiry day in 6-12 month.The options will be  at the money .Each trade will be  around 500 dollars with 30% stop price.The portfolio will include max 3 positions and will start with 2000 dollars.

ENTRY UGAZ

•  We entered UGAZ at 39.05 as aggressive position.The low today was 39.03

UGAZ LONG

• We are entering new position UGAZ (VelocityShares 3x Long Natural Gas ETN).
• Aggressive entry is 39.05 conservative entry is 40.28.
• Stop price is 36.62 and amount of shares is 99
• If entry is 2 positions then cover first one at 43.18 .Full position cover at 49.30

CKH STOPPED OUT

• We were stopped out on CKH (time stop) at eod, been holding CKH  from AUG 25 without change in trailing stop.Our exit price is $58.89. The loss on 64 shares was $-66.62. We are still in ETFC and SSNI

PORTFOLIO MONTHLY UPDATE

• We started our portfolio with $25000 on AUG 5. Our profit in August on closed trades was $1600.66 and loss $347.55. All prices include commission that was $248.75 on all closed trades. We had 11 long trades and 2 short trades.The long trades were 8 winners and 3 losers.The short trades were  all winners. The average win was $160 and the average loss was $116.Trade expectancy is $97 and the average days held is 7.1. SPY went up since Aug 5 0.91% and our portfolio is up 2.35%.We still have 3 stocks in open trades. 2 winners (ETFC and SSNI) and 1 loser(CKH).
• Our regret this month that we were stopped out on KPTI, but we have to stick to our stop price of 1% in order to be successful and consistent in the market where 90% of traders will eventually lose.

VACATION TIME

• We are taking about 10 days vacation, and will be popping in and out to watch the rest of the portfolio of 3 stocks, but there will be no new portfolio entries taken. 
• September is usually a bad month for the markets and esp for S&P 500.
• Thank you for reading our blog.

EXITED AGQ AT THE TARGET

• We had target $50 for ETF AGQ so we exited at this price today

ENTRY LONG AGQ

• We entered AGQ at 46.30 as an agressive trader

AGQ ENTRY

• We will be watching for tomorrow entry in AGQ ProShares Ultra Silver ETF for the agressive trader $46.30  and for the  conservative trader $47.10 stop price is $43.41. Target about $50
• AGQ is in oversold territory near bottom of Keltner Channel and having bullish engulfing candle.
• Our target middle or upper channel and we will trail this entry

EXIT DUST DAYTRADE

• Exit DUST at $34.93 with small profit of $26.30 inc. comm.

SSNI ENTRY LONG

• We entered SSNI at $13.65 very close to aggressive entry of $13.60 now SSNI is $13.89 so its close to conservative entry of $13.96. Our trailing stop price is $12.97

ENTRY DUST DAY-TRADE

• We entered DUST at $34.51 projected target is 36.24 for now, may change. Getting out now at 34.93 as day trade

UPDATE on BAC

• We decided to get out at $15.98 it almost at our target
• Our profit on this trade is $287.62 inc. comm.
• We been in this trade 24 days.

ETFC LONG

• Entry ETFC long for aggressive $25.82 conservative $26.14  target min 27.17 max 30.16 stop price 24.89 will enter 146 shares 

SSNI ENTRY LONG

• Entry long SSNI for aggressive trader is $13.60 conservative is $13.96
• First target is $15.08 next target is 19.34 stop price is 12.76 with 281 shares (1% of the portfolio).
• For this entry using the break of the Bollinger Band 20,1 and also signal of one of the 3 systems we employ in our trading.
• We also watching ETF DUST for long entry if  it will cross over today high of 36.60 or down to 32.90

CMC EXIT

• We decided to exit CMC short on account of CITI endorsement of the company.
• We exited at at $15.82 and  our profit from the trade is $70.50

STOPPED OUT ON SLB and ACWI

• Stopped on ACWI at $58.78 loss -$2.54 including comm.
• Stopped on SLB    at  $80.88 loss of  -$90.30 inc. comm.
• Our profit all together inc. comm. on all closed trades is $586.60
• Our profit now on opened trades is $214

PORTFOLIO UPDATE

BAC new trailing stop $15.21

CKH long entry

• Entered CKH $59.64 with 64 shares
• BAC trailing stop change to 15.06

CKH LONG

• Entry CHK long target $65.95 stop price $56.18 conservative entry over the high, aggressive entry $59.64

KPTI STOPPED OUT

• We stopped out on  KPTI today at $7.53 our loss is $254.61 (1%risk)
• Our new trailing stop on BAC is $15.00

UPDATE ON THE PORTFOLIO

BAC new trailing stop 14.84
ACWI new trailing stop 58.77

WHY DO 90% of TRADERS LOSE MONEY

Not following a clear and simple trading methodology. Methodology includes: your analytical tools and how to use them.
Only by trading systematically  you will know when to buy or sell  without using your instinct ,
how to trail the position and when to exit. Instinct does not work over the long run.
Lack of Discipline. You should  consistently follow your proven system . The trader should define 
the best methodology that works ,write it down and follow it systematically.
Lack of Patience. Market only trends 20% of the time, meaning that 80% of the time the markets are not trending in one clear direction. Hence, there are only few good setups in a given week to take.
However, if you miss a trade remind yourself that there is always another trade tomorrow or next week.
Lack of Money Management.you should limit your position risk to 1%-3% of your portfolio (we have 1%risk) .You also need sufficient capital to make sure you will not be stopped out prematurely .To determine the level of the stop loss use either fixed stop  or ATR (volatility) stop loss. Fixed stop loss  is usually used under previous low-high or resistance -support . 
Do not put on one trade big percent of your portfolio (we have 15%)
Money management also includes  risk/reward analysis. Don't trade less than 1:2 ratio,meaning your the distance between you stop, entry and target should be not less than 1:2. When trading, we all the time should apply probability of success and failure and protective stops. Trader with small account should reduce risk by trading small, having fewer shares of stocks, so the risk on any given position will be relatively small .
Unrealistic Expectations. It is difficult to have above average returns trading your own account.
The trader (esp  the beginner trader) should concentrate on not losing his own money.(Jeffrey Kennedy)

KPTI BIOTECH ENTRY LONG SWING

• Entry long KPTI. 
• We enter 8.02 target 9.46 .
• KPTI having pattern that is called Frypan Bottom- pattern consists of a slow rounding bottom with favorite bias to the upside.
• KPTI also crossed the pivot point today 
• Stop price 7.53
•  we bought 479 shares

DOW THEORY

• Dow theory was formulated from a series of Wall Street Journal editorials which were authored by Charles H. Dow from 1900 until the time of his death in 1902. These editorials reflected Dow's beliefs regarding how the stock market behaved and how the market could be used to measure the health of the business environment.
• The theory states: Market Indexes Must Confirm Each other:
•  In other words, a major reversal from a bull or bear market cannot be signaled unless both indexes (generally the Dow Industrial and Transports Averages) are in agreement.  Currently, THEY ARE DIVERGING.
• However, if  The DOW JONES INDUSTRIAL AVERAGE follow the Transports Average and also volatility index will be increased (Fear Index) the result of the above will be a major downturn in the market. 

STATISTICS

• Our portfolio comparison to SPY. Since the start (August the 8) our portfolio increased 2.03% on the other hand SPY only increased 0.63%.
• We closed 6 trades 5 long and 1 short all of them were  profitable.
• Our total win including commission was $934.14
• On average we held this closed trades 1.7 days.
• Our trade expectancy now is $156.
• Right now we have 11291 dollars in cash, from the  portfolio of 25000 plus.
• We have 4 open trades.3 winners and 1 loser

Dslv sold

• We decided to sell Dslv for 20.65 what is very close to our target of 20.80. The entry was 19.60 The profit for this transaction was $180.65 including commission.

AFTER HOURS COMMENTARY

• Strength in small stocks and crude oil today helped keep the SPX in positive territory. The bear wedge continues to form in the SPX, so any long ideas have to have tight stops.   
• Crude Oil continues to grind higher after climbing above its former Jun-Aug down trend-line in the vicinity of $46.00. Target probably is above 51.
• Silver futures are down now and we are still in DSLV-  with this swing trade our entry was 19.60- looks like small ascending triangle.There is 50sma resistance at 22.18

DSLV is 19.60 ENTRY LONG

• DSLV is 19.60 now, but not sure yet, if it will be day trade or swing trade. 
• The target for now is 20.80 but we may raise the target to 22.68, anyway we are in now for good or bad.
• For the swing trade the stop is 18.39

MORNING UPDATE

• DSLV did not get to our entry of 19.60. Now its 19.50, so probability is  that we will not be entering this day trade.
• SLB finally broke out today after  8 days of holding (We were sitting tight) the price now is 83.36 entry was 82.48 target  around 85.50 .
• SLB raise  the trailing stop to 80.41 
• BAC  raise the trailing stop to 14.68
• All the  other stop prices remain the same today
• BAC  now 15.23
• ACWI now 59.33
• CMC short now 16.24
• We have 3 stocks in profit and 1 is loss

DLSV LONG DAY TRADE

• DSLV is VelocityShares 3x Inverse Silver ETN
• agressive trader enter 19.60 and target about 20.80 amount of shares is 191 with tight stop price  
• conservative trader is 1 tick above the high what is 20.62

AHS COVERING SHORT TRADE at 1:57pm AUGUST 17

• AHS short very close to 200sma that is usually is a strong support, also our profit is close to 10%.
• Therefore we decided to take a  profit at 33.86 and if AHS will break the 200 sma may reenter again.
• Profit  from this short trade is $351.14 cent
• ALL together our profit from closed positions including 2 day-trades and swing portfolio since the start of AUGUST 8 is: $753.43
• We have now 4 stocks out of max 5 in our swing portfolio and we will be watching for another position and will follow Jesse's  another rule" Don't trade when there aren't clear opportunities".

Mid Morning Update on the swing portfolio.

• CMC short trade-the stop is the same 16.72 
• AHS short trade- please change your stop price to 36.83
• BAC long trade the same stop price of 14.61
• ACWI long trade the same stop price of 58.66
• SLB long trade the same stop price of  77.90-(we getting closer to our Time Stop of 10 days, that exist in order to follow  Jesse Livermore rule that says-Let profits run. Close trades that show a loss)
• Our net profit on close trades since start of the swing portfolio on 8 of August is 402.35 including commission.

UPDATE on DRV DAY-TRADE

• DRV long trade never got to 11.63, but the low in the AM trade was 11.75. We entered when the price came back to the opening price of  DRV, what was 11.79 plus 1 tick.
• SO the entry price was 11.80 We did not wait for the 11.84 (1 tick over the high of yesterday) as we are aggressive traders in the day trading scenario.
• We decided to get out at 12.01 a bit higher than our target of 11.98 since the entry was higher too. 
• All together the profit was $50.28 including commission.

DRV DAY-TRADE

We are having a new day-trade tomorrow for an aggressive trader
DRV   (Direxion Daily Real Estate Bear 3X ETF long).

• The close of the  triple ETF  DRV was 11.78.We are shooting for an entry at 11.63 and exit at 11.98 for 319 shares.
• Conservative trader always enter 1 tick above the high what is 11.84
• Stop price should be tight.

Mr. Livermore's wise words

Jesse Livermore was one of the greatest traders of all time. At his peak in 1929, Jesse Livermore was worth $100 million, which in today's dollars roughly equates to $1.5-13 billion, depending on the index used.Jesse Livermore believed no matter how much we "feel" that we know what is happening, we need to wait for the market to confirm our thesis. And only when it does do we make our trades - and we must do so promptly. 

Jesse trading rules are:

• Trade with the trend.Buy in a bull market, short in a bear market

• Don't trade when there aren't clear opportunities.

• Wait for the market to confirm opinion before entering. Patience leads to "the big money."(enter on high of  previous candle in long trade and on the low in short trade).

• Let profits run. Close trades that show a loss (good trades generally show profit right away).(We have 10 days time stop)

• Trade with a stop, and know it before you enter.

• Exit trades where the prospect of further profits is remote (trend is over or waning).

• Trade the leading stocks in each sector; trade the strongest stocks in a bull market, or the weakest stocks in a bear market.

• Don't average down a losing position.

• Don't follow too many stock

In TRADEWITHME blog we are following his rules closely.                      

Mr. Livermore's wise words were:
"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It was never my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!"

UPDATE ON THE SWING PORTFOLIO

• MPEL our entry suppose to be 14.91 now is 15.26 but we did not take this trade ,since have only 5 stocks in the portfolio, got to our target of 15.40 ,but we were not in trade.
• AHS Short entry was 37.24 now 35.55
• BAC entry was 14.74 now 14.98
• ACWI entry was 58.20 now 59.45. NEW STOP  price please move to 58.66 what is higher than our entry
• CMC Short entry was 16.05 now 16.42 stop is 16.72
• SLB entry was 82.48 now 81.86 stop is still 77.90
• 3 in profit and 2 in loss
• The profit from the 2 closed trades since august 9 is 352.07 including commission

UPDATE ON GASL DAY_TRADE

• Entry in GASL was 43.89 as mentioned  in post from August 14. We bought  84 shares and sold the first 42 shares at 45.60 and now selling 42 shares for 46.27. The  profit for  the first sale is $51.92 including commission. and for the other half  the profit is 90.01 including commission. The sum of both trade  is 141.93 what is not bad for day-trade taken occasionally.

T-LINE CRUNCH

• Let me introduce you to another add-on that we sometimes use. It utilizes certain  patterns and Candlesticks to produce buy and sell signals .Right now  an ETF GASL  received a buy signal on 11 of August that is called T-Line Crunch.
• The T-line crunch is a common bullish indicator that indicates when a potential breakthrough is about to occur. Also, it visually demonstrates that the bears cannot knock the trading levels down through the T-line. As long as a trend continues to close above the T-line (the black line), it is considered to be in an uptrend.
• One thing to be aware of with a T-Line run, sometimes during the the stock run that  the price can get  far from the T-Line and as the result the stock will trade sideways for a few days until it comes back to the T-Line and tests it, or  other times, the come back  of the price to T-line will happen dramatically in one day  esp if the price is too far from the T-Line.
• As you can see in the chart the price of the GASL is a bit far from the T-Line, so keep in mind that GASL can also consolidates or fall to the T-line dramatically, before further uptrend. 

MARKET and ECONOMIC DATA

• Retailers will dominate earnings next week, with results expected from HD, TGT, WMT, LOW, and URBN to name a few.This sector is only one where a significant number of Q2 earnings reports are still awaited.
•  Gold should begin moving lower, since volatility or expected volatility due to global pressures has declined substantially in recent months.
•  There is  also sector rotation from REITS and UTILITIES to Technology. 
•  Indices are making new highs, but the percentage of stocks trading above the 50 day line continues to gradually decline.This tell us that the rally mostly in large caps
•  Economic Data.:
•  Retail sales for July disappoint, coming in flat, below expectations.
•  Producer Prices for July declined sharply in July, falling (-0.4%) vs. an expected increase of up  0.1%.
•  University of Michigan consumer sentiment prelim survey for August rose to 90.4 vs. 90.0  prior month (below estimate of 91.5); 
•  Business Inventories rose 2% in June, slightly above est. for a 0.1% rise; business sales rose 1.2% in June after rising 0.3% the prior month; wholesalers inventories rose 0.3% in June after rising 0.2% prior month.   

GASL DAY-TRADE

• There is a danger of holding leveraged ETF for a long term, on account of erosion in asset value that is known as "leveraged decay". They are also extremely volatile and risky.  The higher the volatility, the more adversely affected is the leveraged ETF. In addition, expenses are high as leveraged ETFs require active portfolio management. Leveraged ETFs should be seen as extremely short-term bets on specific market moves or as a way to hedge some specific market exposure.Therefore I would never recommend them as part of regular portfolio, since a chance of loss is great.
•  However for more aggressive trader its suitable as a day-trade.In  case of the day trade I would suggest to watch the first 15 -30 min of the market and see if the price will break the low or the high of the ETFs movement from  the opening of the market.
• Regarding GASL see if you can enter at the price of 43.89-44 a bit higher than previous low and get out on the high around 45.5045.60 (1/2 of daily ATR). The values are just probability numbers and depends on Mondays market.I would suggest a very tight stop, what ever comfortable for you since probability of loss is greater than usual. If you more conservative trader then enter on 1 tick above the high  of previous bar as usual to prevent whipsaws.

AFTERNOON REPORT

• We again have 5 stocks in our portfolio 2 shorts and 3 longs. SLB is down in spite of  the increase  in price of oil today. The correlation coefficient between Schlumberger’s stock price and crude oil prices since July 1, 2016, has increased compared to its correlation coefficient in the past one year and now it stands on 0.73. So probability is, if oil price will increase further so would SLB. 
•  Cowen's firm has raised the Price Target to $ 92 from a previous price target of $85 .Company shares were Reiterated by Scotia Howard Weil on Jul 25, 2016 to “Sector Outperform”,Firm has raised the Price Target to $ 90 from a previous price target of $80 . Schlumberger Limited. was Upgraded by Societe Generale to ” Buy” on Jul 19, 2016.
• We have 10 days time stop on it, price stop price of 77.90 on 44 shares

CMC SHORT

• Entry  short in CMC short 16.05 stop 16.72 minimum target is 15.12 max is 13.96 broke symmetrical triangle down.There is also extended profit target at 10.97. Number of shares is 230 with 1% risk

MID MORNING REPORT

• No Entry on MPEL since it still under 14.91.The highest today was 14.79, with this simple rule of entry on the high or low of previous candle , we eliminate lots of whipsaw.

NEW ENTRY LONG MPEL

• We  will be entering a new trade tomorrow to complete our portfolio of 5 stocks. Our new trade is MPEL from Resorts and Casino sector.  
  MPEL reported second-quarter 2016 earnings per share of 5 cents, which outpaced the Zacks Consensus Estimate of 3 cents by 66.7%. 
  Our entry will be 14.91 -1 tick over the high of previous candle, stop price is 13.99. 
  First target is 15.40-15.83 next target is  16.55 - with 1% risk we will be entering 249 shares.
  MPEL have longer Descending Ttriangle pattern and shorter Reversal Head and Shoulder pattern that broke already.

• 

Mid Morning Report

• CPE  the minimal target was  13.66 -since I have 2 stocks in Energy sector decided to take a profit to keep my portfolio diversified and reduce the risk so took the profit at 13.66 . The profit on 284 shares is 5.66% or 210.14 including commission on both sides.
• AHS  new stop price 38.05
• ACWI new sto price 58.36
• We are trading very conservatively with stop prices and targets. If you want to trail  CPE to 14.50 please do not forget to raise your stop price(CPE now 13.72) or take only half position profit and trail the rest.
• Regarding SLB decided to change the minimum target to 85.54. Will decide if to get out or trail at this price to higher target. SLB now 82.36 a bit lower than our entry at 82.48

Profit/Loss Report

• SLB 44 shares -down about -$86 with comm.(9.95 one way)
• AHS 98 shares- up about $127
• BAC 248 shares- even
• ACWI 62 shares- even
• CPE  284 shares- even
• profit since start including commission is +41 dollars
• We are sticking to our stop loss no matter what.Even if one of  stocks will be a good winner- we will be ahead of the game-our stop loss only 1% .We are using also, ATR stop loss and Time stop loss-10 days, so the losses from 25000 portfolio will be minimal.
• From 25000 portfolio still have cash 6760 
• Blog started Aug 8 next profit/loss report is Middle of Sep

Mid Morning Update

• We have now 5 stocks in our portfolio.The max for us to trade,
• AHS entry  short today when crossed the low of previous day by 1 tick- entry 37.24 now it 35.22 stop price  39.41. 
• CPE stop price is the same as yesterday 12.06. 
• BAC the same stop as yesterday 14.61. 
• SLB stop 77.90-  SLB -Time Stop price  is 10 days-so if not improve in 7 days and still over the stop price -will get out no matter what
• ACWI raise stop price to 58.18.
• Regarding $VIX- today probably will get the confirmation to go long $VIX when the price will close higher than the candle inside BB.Meaning there is probability for the  market to go lower.

CPE LONG at 12.85

• Entered  CPE long- another oil stock at 12.85 stop price 12.06  first target  minimum 13.66-14.50 

MORNING COMMENTARY

• ACWI and BAC in uptrend .Change stop price on ACWI to 58.02 and BAC to 14.61
•  SLB slightly down.
• No entry on ASH, the price should break  the previous low 36.69 or tomorrow break todays low .  
• VIX again outside BB. We did not have confirmation for long VIX since you need a higher close over the candle that entered the BB back.Now we are waiting for VIX to enter inside BB for signal and then to confirm next candle should be higher

SHORT AHS

• AHS broke the cloud and macd turning down while ADX turning up first target 28.89 protective stop 39.41 entry on open  if price lower than previous candle 36.69

Commentary and New Trades

• • We still in BAC up 0.53% .We also entered ETF ACWI- the entry was  58.50 now its 0.17% up.There is also new Entry on SLB  before the close at 82.48- broke ascending triangle
  • 

  SLB entry 82.48 target 88.20 stop 77.90

• 

  ACWI entry 58.50 target 62.86 stop 57.52
  

  
  
  
  
  

Energy market

 Trade set ups in the energy markets- Correction probably complete with the reversal at 41.43

BAC long entry

• Entry BAC long 14.75,financials are breaking out stop loss 14.48 target 16.17

MARKET SPY

SPY rose to new all-time high after a stronger than expected monthly jobs report. Bank stocks rose on the prospect of higher interest rates, while tech stocks and consumer companies also made big gains.

However,the Bollinger Band is narrowing and the price is touching the top of the band Even so the market in the breakout mode, we may see some weakness next weak.There is also a divergence between price and RSI(10), that hints about the possibility for a small pullback. In addition VIX closed under Bollinger Band, closing back inside the Bollinger Band will create a signal for the market retrace. If the next day after the signal VIX will close higher this signal will be confirmed.
Next week is about Retail sale,Business inventories and Export/Import prices. My target is still around 2215-2220 for the current uptrend.