UPDATE 10/23: After being up 8% on the trade, Arm released disappointing earnings overnight. This caused the stock to drop back to our entry price where our algorithm exited the trade this morning on market open. Total loss on the trade is 0.3cents/share or -.07%.
On October 3rd we posted that our algorithms exited all positions and rolled into cash. This happened just before the start of the current market turmoil as a result of the news out of Washington. While the subscriber portfolio capitalized on the volatility, we tweeted a warning the next day to all our followers:
As we’ve said before, we don’t particularly like going short, but short were the only opportunities that our algorithms were picking up. It has taken nearly 7 trading days for markets to resolve themselves, and we are only now starting to see algorithmic opportunities to go long.
Our algorithm picked up a buy signal on Arm Holdings (NASD:ARMH) based on a trading pattern going back to the beginning of March this year, and went long at market open.
Check our blog for a complete list of open and closed picks and our performance to date.
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