No matter what, Turkey became just an excuse for a shake out to get rid of weak hands and move on without them. It is exactly what has happened next week.
The market created nice Bottoming Tail when everybody was panicking about Turkey. The very next day the candle got confirmation and we could load our accounts with new trades – and make money.
It is more apparent on the daily chart:
Choppy markets are great for income, they can make you nice cash. They are not as good for your net-liq (net liquidation value) of your account as zig-zags of volatility spiking or drying up within hours can impact the account. One day, our net-liq was at $95,000 and the very next day we dropped to $87,000 just to recover a bit by Friday.
Since we had the bottoming tail confirmed we may see more uptrend in the coming week and reach the January highs which are now a resistance. At the resistance we may see some downward push which will be good to enter more bullish trades.
Last week our screener provided a few stocks good to buy.
Here are the dividend growth stocks we purchased in August using 50% of our options trading proceeds:
(click to enlarge)