Financial Letter - June 8th 2020
276th 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.
Our next intensive courses:
- Atelier de négociation active (Friday June 19th, 2020)
- Investissements stratégiques avec options (Saturday June 27th, 2020)
**Due to the government's Covid-19 guidelines on social distancing and isolation we will be offering these two courses live online through Zoom. **
*A screenshot sent to us by a participant of the option course given on April 5th via Zoom.
Investors from France have shown interest in our courses offered online via Zoom, especially the ones on Technical Analysis and on Options. We are therefore very happy to welcome all european investors and also investors from all continents to our online courses. However, the examples given throughout our courses will always reflect the New York and Chicago markets just like the porftolio management services we offer our clients. The intensive courses are 7 hour courses in french offered on weekends (New York time) and the price for a course with all the material included is 100 €.
For more information on these courses visit our seminars page:
http://www.charlesklangford.com/en/services/seminars
To reserve a spot for these coures, 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) rose 4.9% for the week of June 1st 2020. Labor Markets rebounded higher than expected pushing the market up on Friday the 5th of June. Once again, this week, all the eleven sectors of the S&P 500 had positive gains. The Financial Sector and the Energy Sector had the best performances.
The SPY reached its highest level since the 24th of February. Its EMAs are still bullish since they are rising and the distance between them is increasing. Meanwhile, the EMAs of the SPY weekly chart have positively crossed, indicating further solidity in its uptrend.
VIP accounts (CKL0522 Portfolio with ETFs) - 2020/06/08
Week of June 1st 2020
Our strategy this week was to once again add an option strategy to our support product (SPY) that is currently losing in an opened position. This strategy is profitable if the product continues falling, remains at the same level or goes up until a certain price.
Weekly profit/loss on the opened positions:
Profit on the underlyer: 9,653$ US
Weekly profit/loss on the closed positions:
Profit on the option strategy from the 1st to the 5th of June : loss of 6,531 US
Net weekly profit: 3,122$ US per client
VIP accounts (CKL0522 Portfolio on Futures Market) - 2020/06/08
Week of June 1st, 2020
Since the extremely high levels of volatility in the market caused by the Covid-19 pandemic, the margin requirements for ES futures contracts have almost tripled. The week of June 1st we constructed an option strategy on the ES that is profitable if the market slightly rises, slightly falls or stays at the same level. This strategy was going very well until the unexpected jump of the market on Friday that pushed the price higher that the desired range of the strategy which resulted in a loss. We also bought long-term MES contracts for our clients that we closed on Friday with a profit.
Weekly profit/loss on the closed positions:
Profit on the ES option strategy: -1,947$ US
Profit on the MES contract: 1,338$ US