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  • jerry

September 10th portfolio update

Week could have been worse but not insanely happy about this weeks performance. The portfolio was down .32%, while the MSCI world index finished down 1.17%. No positions really made any huge moves so I think this portfolio update will be a short one but I will make up for it with a new article coming out mid week with more to come as I start to come up with some more thematic trade ideas to do articles about. Firstly will be a rules based article to give people inspiration to create their own rules list in order to better manage risk. My market outlook remains unchanged as economic data still comes in mixed with weakness starting to become more prevalent. We might have to wait a while longer yet to really see a clearer picture. In my opinion oil leads the way here, and I did open a small oil long expecting oil to go to $90-$95. If it starts to accelerate past that I think I will up my level of bearishness. Watch the oil-bonds correlation, it broke on friday but has been consistent for two weeks, we will see if it reverts back to correlated on Monday.

I opened a long position in $REAL as part of a basket I intend to write an article about. This should be out this week. I also opened up a short trade on $KRE. The portfolio is pretty exposed to cyclical industries so this position will act as a hedge on a recession with the chart beginning to breakdown.

I also bought some more $MDGL as there is data due expected in the next week or so. FDA is expected to announce an accelerated approval NDA for resmetirom which according to Bloomberg is expected to be announced on Tuesday. This should act as a positive tailwind and will really open the door to M&A proposals.

Thank you so much for reading! If you haven’t done so, please like and subscribe, it really helps with growth! If you’d like to stay more updated on trades or other ideas that might not warrant a full article then follow me on twitter here. Alternatively, I’m a part of a discord that is completely free. It’s just a collection of traders from all different backgrounds that talk about the markets, so come check it out here!

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