What a wild month!
Things went so crazy at the end of September that it's already October 13th and I'm just getting to the September review. Our August Review (Part 2) was done on 9/22 but part one but Part 1 of August was completed on September 1st, when the market was at the low of this cycle. We called the August action almost perfectly and, out of 106 trade ideas for the month, 86 (81%) were winners - an incredible percentage I don't expect we repeated in crazy September.
We don't track our virtual portfolio trades in these reviews – this is for all the trades we don't track – which is most of them - as it simply wouldn't be practical to track every trade idea (which are highlighted daily in our Member Chat Room) we have for you at PSW! Of coruse, this is an arbitrary point in time and some trades could have had better (or worse) exits in between – we're not doing this to keep score, just to get an idea of what worked and what didn't in the past month so, hopefully, we can make better decisions this month.
We left off on Friday, August 23rd and we were still bearish. It's a good thing, too as it turns out we dropped like a rock the next week! My note in the Friday morning post oulined our attitude into the weekend as I said: "If the news-flow changes (and it hasn't as of our morning review), we'll be thrilled to get more bullish but, at the moment – I'm sorry to have to keep being negative." We were looking to complete our 5% Rule™ pullbacks before there was a turn and we'd already begun to do a little bottom-fishing - but let's not get ahead of ourselves!
