1 March 2017: No details

US President Donald Trump gave an address at the joint meeting of the Senate and the House of Representatives for the first time since his inauguration. His tone was much milder in comparison to his inauguration speech. But his message was not very different and still lacked the details that investors were looking for. Is that a good or a bad thing? Optimists can maintain their hopes of big tax cuts, increased government spending and extended economic growth. Pessimists might conclude that President Trump has trouble to make his far-reaching ideas concrete and that these could take much more time to implement. Stock markets will remain more or less directionless for some more weeks or even months.

white-chapel-logo-smallDid stock markets anticipate a somewhat disappointing meeting between President Trump and the US Congress? All major US indices closed lower yesterday: the Dow lost 0.12%, the S&P 500 0.26% and the NASDAQ even 0.62%. The VIX reached almost 13 points, a level we haven’t seen since the beginning of this year. Our UVXY ETFs reaped the benefits of the pessimistic mood among investors and added 5%. Return since the start improved to 254%.
White Chapel did not give a trading signal, but is approaching such a signal.

Accumulated capital at close of previous trading day

Return since start

Return this year

Return this quarter

$35,423

+254.23%

-12.13%

-12.1%

Our initial capital was $10,000 at 1 January 2016. Our average Annual Return is 196%.

View of Arnhem from Rozendaal