$1,203,456!
That's up $46,900 (4%) since our Dec 12th Review for our paired Long-Term and Short-Term Portfolios and, from our $700,000 start back on May 16th, we're up $503,456 and that's a lovely 71.9% gain in month 8. The S&P has gone nowhere in the past month - snaking around the 4,750 line - which is our favorite direction (or lack of) for the market as it makes all that premium we sell worth less and less as time goes by.
I want you to remember that. It's easy to make money in an up market but markets are only up about 1/3 of the time. The rest of the time they are flat or down and learning how to make money in flat or down markets by selling premium to people who think they are smarter than the markets is how we turn trading from a hobby into a business or, dare I say, a PROFESSION!!!
Turning you into a Professional Trader is what we are all about at PhilStockWorld and if that means I have to repeat things a lot - I will... Once you understand that trading with options is a mathematical, statistical SCIENCE you will be comfortable "Being the House" and setting up games which others can play while you simply sit back and wait for the winnings to come pouring in.
We're waiting for earnings to tell us whether we should adjust our range but, at the moment, we're pretty sure this (4,800) is the top of the range and it's possible even that is a bit generous as we're not entirely convinced 4,400 will hold on a sell-off but it's now the 200-day moving average - so that should give us some support down there and that's where we've targeted our hedges in the STP.
