PCE Week
Last full week of September
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Last week:
I did only closed out some weekly IWM puts (hedges) and a TLT weekly puts before FOMC around breakeven. The TLT puts would have worked very well. Pretty boring week for trading as I did not want to get caught up in the mess too much.
2nd Challenge Account: 3k to $1,570 (down from 5.7k portfolio high)
(first one was $6k to $270k in less than a year)
I added some cash to this again last week for some added momentum on current swing trades. I like to slowly add cash injections until the account has a value over $10k from profits and initial cash. No matter what people say, these challenge accounts are tough and I am using a more moderate risk strategy than aggressive. Even with a moderate strategy, I got hit pretty hard the last month or so. It happens sometimes.
Relevant Topics, News, and Data: Month of September (Quarter End Sept. 30th)
BTC IBIT options approved
Possible BTC banking custody approval soon
Wallet accumulates $1.4B of BTC in a month
CZ gets out of jail on Sept. 30th (Following monday)
Thursday Powell speaks
Friday PCE
Following Monday is EOQ Sept 30th
There are some other data points this week, but nothing major. Powell’s pre recorded video speech on Thursday might be a non-event as well. I will say that there will be alot of Fed speak on Thursday though.
Fed Waller buoyed the market on Friday by saying that PCE will come in cold and that the 50bps cut was needed for a stabilization of labor market data and inflation.