NPP's This Week In Trading 7.6.19

Weekly Letter: 7.6.19

Market Environment: Volatile

Names Added This Week: AMAT

New Names Watching This Week: GOOGL (short) TWTR X

Hope everyone had a spectacular 4th of July holiday. NPP celebrated by putting in a new all-time weekly close high along with the SPX. We had many winners including AMRN EA and SNAP giving us a +1.28% boost to the P&L on the week.

You have probably noticed we've been doing a lot of selling lately. We're now down to only 1/4 of our portfolio in equity with the other 3/4 in cash. As we near our upper targets for SPX, the odds of a large .50/.618 retrace from the May low are increasing. Instead of hoping to time the market and sell at the top, we're taking profits now and will wait for that inevitable pullback to reload.

We've suspended any new buying on the long side and will ride the 1/4 portfolio size we have left until this wave tops. So expect things to be pretty quiet on our end.

We've kept our Market Environment as "Volatile" again for this week. This is only because we believe we are nearing the top of this wave. After the .50/.618 retrace from the May low and a rally that breaks downtrend lines, we will change the Market Environment to "Trending" and hold positions for longer to reach higher targets. We believe this will be our chance to make the largest chunk of our money on the year. So stay tuned

Please email me any questions you have. Looking forward to another money-making week.

Onto week 28!

This Week's P&L:

NPP: +1.28%
SPX: +1.86%

This Month's P&L:

NPP: +1.28%
SPX: +1.86%

This Year's P&L:

NPP: +6.53%
SPX: +19.29%


NPP vs SPX Lifetime: (blue line=NPP)

Screen Shot 2019-07-07 at 7.33.21 AM.png


Current Positions:

Long-term: ARKG CRSP (calls) EA EEM GE GILD GLD QD (calls)  SNAP (calls) VIPS Z (calls)

Swings: AMAT BABA CRM DBX GILD QD SPOT TSLA (short)

Quickies: none

Charles Chao