Before I get on to the weeks results I wanted to provide a response to a comment about the service made on the first post. It related to the statement that you use 10% of your bank on each selection. The comment suggested that this was a high risk strategy so I wanted to clear up any confusion. Rather than put my own interpretation on it I contacted the programme owner who provided the following “The way I read the comment is that 10% is being risked per trade. That’s not the case. I completely agree, 10% being risked on each trade is huge risk and I would NEVER do that. The 10% refers to the maximum investment in any one stock. If that stock goes down 20% during a trade (EXTREMELY UNLIKELY) then that’s a 2% drawdown”

Now, on to the week’s action. Or, perhaps a more apt description would be inaction. The small number of trades made resulted in a small loss of $50 over the week. This coming Monday is a holiday in the US so the markets won’t return until Tuesday so a short trading week for the beginning of September. It should mean that holidays are now over and the markets will soon be back to trading as normal.

Mon 26-Aug: MYL: 20 shares: $712.60: $713.00: $.40: $7303.63: 4.34%
Mon 26-Aug: NU: 17 shares: $751.72: $708.75: $-42.97: $7260.66: 3.72%
Thu 29-Aug: HPQ: 32 shares: $717.80: $719.32: $1.52: $7262.18: 3.75%
Fri 30-Aug: KR: 19 shares: $714.07: $699.15: $-14.92: $7247.26: 3.53%
Fri 30-Aug: M: 17 shares: $754.44: $757.88: $3.44: $7250.70: 3.58%
Fri 30-Aug: XRX: 72 shares: $719.56: $722.60: $3.04: $7253.74: 3.62%

Weekly result: -$49.49

Running Total: +$253.74