Financial Letter - July 27th 2020
282nd issue (since 2015/01/24)
(1) We offer portfolio management services for futures market accounts with a minimum of 25K USD or the equivalent in CAD.
(2) CKL Inc. offers an actively managed portfolio with US ETFs combined with option strategies. This portfolio requires a minimum of 250K USD or the equivalent in CAD.
(3) And evidently we offer high quality long term portfolio management with low fees (0.9%). This portfolio requires a minimum of 100K CAD.
*No transfer of funds required.
For more information on any of these portfolios, write to us at info@charlesklangford.com.
S&P 500 Index - The Center of the World's Financial Solar System
The S&P 500 index (SPY and derivatives) fell 0.3% the week of July 20th for the first time since June. Tensions bewteen the US and China and growing worries on the ongoing pandemic caused volatility in the market this week. The Financial Sector and the Energy Sector had the best performances.
SPY closed its week at similar levels to the previous week's close. Technical indicators like the MACD, RSI and TSI were showing divergences with the price chart announcing a correction to come. The VIX slightly rose and concluded its week at around 25% showing that the market is still not at an ideal level for accurate use of technical analysis. However, the VIX's EMAs are still negatively crossed which is a good sign for now.
VIP accounts (CKL0522 Portfolio with ETFs) - 2020/07/27
Week of July 20th 2020
This week we added an option strategy to our support that is profitable if the market rises slightly, slightly falls or stays at the same level.
Weekly profit/loss on the closed positions:
Profit on the options: 609$ US
Net Weekly Profit : 609$ US
VIP accounts (CKL0522 Portfolio on Futures Market) - 2020/07/27
Week of July 20th, 2020
This week we added an intermarket spread on Micro contracts of the S&P 500 and Gold in our futures market accounts. We multiplied the strategy with multiple contracts depending on the value of the accounts. We closed the spreads Tuesday the 21st of July with a profit.
Profit of the intermarket spreads:
Level 1 clients (1 MES, 2 MGC): 109$ et 494$
Level 2 clients (2 MES, 4 MGC): 218$ et 988$
Level 3 clients (4 MES, 4 MGC): 327$ et 1,482$
Net weekly profits on closed positions:
Level 1: 603$ US
Level 2: 1,206$ US
Level 3: 1,809$ US