The solid break out in US equity indexes continued to assist trend following Openbook traders, who were looking to catch the momentum. New trader tkstor, was able to initiate new positions as the markets broke higher late on Tuesday, and notch up two trades of approximately 7%. This trader allocates approximately 15% of his trades to the US equity indexes and has earned approximately 140% over the last three months.
An Openbook traders who has been on a tear, had a minor setback during the past week, despite showing solid gains on his equity trades. Petra09, who has racked up 3-month earnings of more than 150%, had gains on the Dow Industrials of 7.3%, 6.8% and 4.3%. Losses on the DAX and Oil suggest that these two instruments may be this trader’s Achilles heel.
Spanish trader Drangie, who was very active in the S&P 500 during the past week, was able to notch up a number of small gains. By trading both sides of the market during this week’s upward momentum, this trader has seen gains on the long side and losses on the short side. Despite 94.9% of her trades showing profitable outcomes, her risk management techniques are generating larger loses than gains which reduce her overall returns.
US equities were driven higher by financials stocks which were buoyed after the Fed released stress test results on Tuesday. Fifteen of the 19 banks tested passed, which allowed many to increase their dividends and initiate stock buyback programs.
On the economic front, both employment and inflation were in the headlines. Jobless claims continue to point to plus 200,000 job increases, which helped lift stocks. Both wholesale inflation and retail inflation where hotter than expected on the headline number, but continued to remain tame at the core.
Retail sales were also released with February retail sales stronger than expected at 1.1% in February to $407.81 billion, according to the Commerce Department. Sales were up 6.5% year-over-year in line with forecasts.
Technically, the US markets continue to show positive signals. The Nasdaq 100 reached levels not seen since June of 2000, while the S&P 500 broke through the 1,400 level. The MACD (moving average convergence divergence index) created a buy signal on the S&P 500, which could lead to higher prices.
An Openbook traders who has been on a tear, had a minor setback during the past week, despite showing solid gains on his equity trades. Petra09, who has racked up 3-month earnings of more than 150%, had gains on the Dow Industrials of 7.3%, 6.8% and 4.3%. Losses on the DAX and Oil suggest that these two instruments may be this trader’s Achilles heel.
Spanish trader Drangie, who was very active in the S&P 500 during the past week, was able to notch up a number of small gains. By trading both sides of the market during this week’s upward momentum, this trader has seen gains on the long side and losses on the short side. Despite 94.9% of her trades showing profitable outcomes, her risk management techniques are generating larger loses than gains which reduce her overall returns.
US equities were driven higher by financials stocks which were buoyed after the Fed released stress test results on Tuesday. Fifteen of the 19 banks tested passed, which allowed many to increase their dividends and initiate stock buyback programs.
On the economic front, both employment and inflation were in the headlines. Jobless claims continue to point to plus 200,000 job increases, which helped lift stocks. Both wholesale inflation and retail inflation where hotter than expected on the headline number, but continued to remain tame at the core.
Retail sales were also released with February retail sales stronger than expected at 1.1% in February to $407.81 billion, according to the Commerce Department. Sales were up 6.5% year-over-year in line with forecasts.
Technically, the US markets continue to show positive signals. The Nasdaq 100 reached levels not seen since June of 2000, while the S&P 500 broke through the 1,400 level. The MACD (moving average convergence divergence index) created a buy signal on the S&P 500, which could lead to higher prices.
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