Another green week, but not so strong. Profit was limited as we only had 9 total launches. There was much more intraday activities that kept me distracted. Yet, it's good that the Launch list still hasn't had a red week the entire year. In comparison to last week, the total profit was significantly lower but still ended up green. The Launch that lasted almost 3 weeks $HPE was finally closed slightly above the Launch price as the $15 area seemed to be a huge resistance.
Weekly Profit Recap
Progress was made this week with 17 Launches improving accuracy to 76% and adding an additional $5.31 profit per share. It certainly helped that the markets, especially the S&P 500 was staging yet another push to all time highs. It felt like we were capturing profit right at our targets or slightly below which is reflected in the overall year to date Profit/Loss ratio. If you look at this week's number, it slightly dropped from 276% to 271%. Still this is a great profit/loss ratio and the less launches we manage, it seems that the better that number becomes.
This was a bitter sweet week as some individual launches made an amazing move and we were able to lock solid profits namely on $NLNK and $FATE. The disappointing part was that several stocks that were on the looser side eventually recovered and blasted through the launch and profit targets without looking back. These were $CORT, $SUPN $ICTI and $PACB. $CVRR on the other hand provided another opportunity on Friday when it crossed the launch price of $8.75 once more and maybe poised to reach the profit target this time.