Monday Update: Kicking The Can


The G20 resolution was to kick the can of increased tariffs down the calendar. The result was a 400+ point Dow rally, that lasted about an hour before being cut in half. Mid-way through the session IWM (Russell 2000 ETF) was negative for the day. Going into the last two hours (when this is being posted online) the market is treading water. If nothing else today's action supports the strategy of taking profits early, leaving something on the table for further gains, then standing aside, waiting for the next signal/trade.  In summary, today's action adds nothing to the big picture and leaves us frustrated with an overweighted short portfolio and a market that is teasing us with a dramatic move lower.



Editor's Update: IWM updated to reflect closing prices. Most important characteristic is that after opening gap no real progress is seen.