Hello everybody,
ELP Program is still without a position. And this is no surprise, because in the past 24 years, it was without one for three years if we put together all the instances when it was not in the market, or 12% of all the time. Surely it takes some time for conditions to be quite right.
Impeachment, it seems, does not make much impression on the market participants so far. At least, not enough to make them close their positions in fear of serious consequences. But it does make people cautious and reluctant to enter the market right now. Economic news, on the other hand, are good enough for traders to keep their long positions in the hope of getting some more upward movement. Add to that the magic of round numbers, and as a result, the S&P 500 index is stuck right below the 3200 threshold.
We must continue to remain disciplined and wait for a signal from the Program. If it does not give one before Christmas and New Year, all the better: we will spend our holidays without fretting as to our gains or losses in the market. The year was good for ELP as it is - just short of 40% is a kind of return noone should be ashamed of.
Good day and be patient,
ELP team
ELP Program is still without a position. And this is no surprise, because in the past 24 years, it was without one for three years if we put together all the instances when it was not in the market, or 12% of all the time. Surely it takes some time for conditions to be quite right.
Impeachment, it seems, does not make much impression on the market participants so far. At least, not enough to make them close their positions in fear of serious consequences. But it does make people cautious and reluctant to enter the market right now. Economic news, on the other hand, are good enough for traders to keep their long positions in the hope of getting some more upward movement. Add to that the magic of round numbers, and as a result, the S&P 500 index is stuck right below the 3200 threshold.
We must continue to remain disciplined and wait for a signal from the Program. If it does not give one before Christmas and New Year, all the better: we will spend our holidays without fretting as to our gains or losses in the market. The year was good for ELP as it is - just short of 40% is a kind of return noone should be ashamed of.
Good day and be patient,
ELP team
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