October continued the market consolidation that began in August. Key considerations this past month included oil topping out, in line with our expectations [see: Welcome to Peak Oil], and USDJPY finally breaking out after nearly a year in the same falling channel. And, of course, the upcoming election has had everyone on edge.
Our theoretical long/short SPX portfolio came in at 11.28%, a 13.22% pickup over the S&P 500’s 1.94% loss. Our average since Jan 2015 now stands at 16.62% per month, versus 0.21% for the S&P.
Hopefully the market will cooperate. One difference versus previous months was the reduced number of large overnight gaps. We did a pretty good job of anticipating those that did occur.Today marks the last day of our membership promotion, and is also the last day we’ll be offering annual memberships — at least, for a while. To learn more and to take advantage of the discounts being offered, CLICK HERE.