NPP's This Week In Trading 6.17.19

Weekly Letter:

Market Environment: Volatile

After a big week last week, this week was a consolidation week for us. Though we had a few quick-trade winners, including AAPL, CRM and SPXL, we had just as much red in our long-term names like SIG. But we're still at our year highs and having a nice month so far.

The general market, though green, also had a consolidation week. The SPX held its 50sma all week despite trying to break it several times. There's a real struggle with the bulls and bears right now at this critical level. But as long as we hold the 50sma, you have to give the edge to the bulls. But next week could give a decisive victory to one side or the other. Why? The FED interest rate decision comes Wednesday.

Before Wednesday, barring any incendiary Trump tweets, the market will likely not move much, waiting for the FED news. After Wednesday, we'll likely get some big, volatile movement, either up and down. We are well positioned for either direction. If we head up, we'll take profits on our longs. If we head down, we'll take profits on our SPXU (short SPY) position, as well as hedges on other longs. 

Whichever way this market moves next week, we won't be getting aggressively long again until the SPX visits at least 2863, and more preferably, 2840. That's where sentiment will likely be too negative setting up a nice bounce trade. Until then, we'll just hold our current long and maybe add one or two strong names if this market rockets higher post-FED. Patience is going to pay us much more in the long run.

Onto week 25!

This Week's P&L:

NPP: -0.05%
SPX: +0.54%

This Month's P&L:

NPP: +1.89%
SPX: +4.90%

This Year's P&L:

NPP: +5.98%
SPX: +15.16%


NPP vs SPX Lifetime:

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Current Positions:

Long-term: ACB (calls) AMD ARKG CRSP (calls) EEM GE GLD NIO NIO (calls) QD (calls)  SGMS SGMS (calls) SIG (calls) SNAP (calls) SPOT VIPS Z (calls)

Short-term Full: SPXU

Short-term Runners: SPXL

Stopped out: none

Current Watchlist:

AAPL ABBV AMAT AMD AMZN BABA BAC BIDU BOX C CAG CGC CPRI CRM DHI DIS EA DWDP EDU FB FSLR GILD GLUU GOOGL HUYA IBKR IQ JD JPM LEN LEVI LYFT MRVL MSFT MU NFLX NKE NVDA PRU QCOM ROKU SE SMH SPOT STNE TEUM TEVA TJX TWTR TWLO UAA UBER WDC WMT WYNN X XLNX YELP Z

Charles Chao