Financial Letter - May 25th 2020
274th 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 course:
- Cours intensif sur l'analyse technique (Saturday May 30th 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 3.2% the week of may 18th. The positive comments made by Jerome Powell from the Federal Reserve launched optimism in the market even with increased tensions between the US and China. The Energy Sector and the Industrials Sector had the best performances this week.
Even with a great performance this week, the SPY continues to fluctuate in its congestion between 295 and 275$. This week's rise pushed the price at a higher level than the end of April's high indicating that, from a technical prospective, a current ''M'' is no longer possible. The VIX closed the week at 28%. a level still too high to use technical analysis accurately but at least its EMAs are crossed negatively and its price continues to fall.
VIP accounts (CKL0522 Portfolio with ETFs) - 2020/05/25
Week of May 18th 2020
Our strategy this week was to once again add an option strategy to our support product (SPY) that is currently losing in an opened position. This strategy is profitable if the product continues falling, remains at the same level or goes up until a certain price.
Weekly profit/loss on the opened positions:
Profit on the underlyer: 6,408$ US
Weekly profit/loss on the closed positions:
Profit on the option strategy from the 15th to the 22nd of May : loss of 1,561$ US
Net weekly profit: 4,847$ US per client
VIP accounts (CKL0522 Portfolio on Futures Market) - 2020/05/25
Week of May 18th 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 May 18th we constructed an option strategy on the ES that is profitable if the market slightly rises, slightly falls or stays at the same level. We also bought long-term MES contracts for our clients.
Weekly profit/loss on the closed positions:
Profit on the ES option strategy: 336$ US
Net weekly profit on closed positions: 336$ US per client
We would like to advise our clients that during this pandemic we remain opened, constantly following the market and available for any questions.
The team at CKL Inc. wishes you a great week!