My June Returns
How did I do during the market’s worst June since 1930? While the S&P 500 was falling 8.6%, my trading account advanced 48.8%, and my retirement account advanced 32.7% (according to my broker’s website).
Pretty snazzy, huh?
Who can top that? Cramer? Kass? Kudlow(ha, ha)? Buffet? Lampert? Heebner?
Ha! There’s a new sheriff in town!
But seriously, I only began actively trading again in May after a two-year break. And while I had a rather egregious bear-market rally to profit from in June, I’m actually a much sharper trader than I was at the beginning of the month. So, maybe I was just lucky in June and will take a beating in July. However, in July, I think I will have a rather sickening market crash to profit from. So, don’t be surprised if I do far better this month.
Note: It looks like a good number of my readers will be trading against here. Are you sure that you want to do that?
July 1st, 2008 at 8:25 pm
Hey Matt,
Great job. I’m having big success also. Nobody should be trading against this bear right now.
What type of crash are you talking about? A 1987 type event or just a big drop in the averages stretched out over a few weeks?
Crash
July 1st, 2008 at 9:10 pm
Great work, Matt!
July 2nd, 2008 at 4:36 am
Excellent Matt. Don’t get too confident.
I’m not trading, because I am very bad at it.
I’m just short resource-exchanges (toronto, oslo, sydney) for another 12 months. Doing well so far, believe it or not.
I repeat, Asia is tightening. It’s a double-whammy. Who will buy those Ipods and those refrigerators?
July 2nd, 2008 at 9:12 am
Way to go Matt. Keep it up…and
THANKS!!! for the BLOG.
meb 820
July 2nd, 2008 at 9:16 am
Crash happens in oversold markets.
July 2nd, 2008 at 2:53 pm
Thanks for the blog , it is a great help to me. Do you have an
opinion on GLD , GDX , TIP
July 2nd, 2008 at 3:58 pm
Hi Crash,
Glad to hear that you are doing well also.
I need to give more thought to it, but I think the market will fall quickly, though perhaps not 1987-style. We don’t really have a sudden financial crisis, but rather a slow realization that this really is recession no matter what Larry Kudlow keeps shouting at us. I took profits on my August SPY puts and reloaded with July puts last week.
Matt
July 2nd, 2008 at 4:02 pm
Thanks Timer. Thanks meb 820.
Matt
July 2nd, 2008 at 4:05 pm
Hi Larry,
Now that I think about it, my problem may be that I am not confident enough. For example, this morning I bought some XLF puts and some USO calls. I have big profits on both, but I didn’t buy enough! If I were more confident, I would be doing far better than I am now. Pretty wild, right?
Speaking of commodities, did you see the slaughter in KOL today?
Matt
July 2nd, 2008 at 4:11 pm
Hi Average guy,
Glad you like the blog.
I don’t have strong opinions on gold, miners, or bonds. Maybe the miners are OK, but I think it’s far easier to short stocks than to own them in this market, no matter what kind of stocks they are. The dollar is probably toast, so gold should stay strong. I can’t see the Fed tightening during this disaster, so bonds are probably OK, but again, shorting stocks here is so easy…
Matt