Monthly Update, November 2024
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Recent Program Performance
November continued a trend of diminishing volatility which time and again has hindered intraday trading. The overnight component of our work was not able to offset as the month offered only one trend pullback. We made two entries, one was profitable and the other was exited for risk management reasons.
Volatility in the S&P typically dies as a trend remains intact, but as of this month we have made up all losses and most clients are at new highs in their accounts.
The Big Picture
December is seasonally a light trading month this overwhelmingly positive for equities. We expect this month to fall in line with the seasonal tendencies, with managers holding off on annual positioning until the new year. Tax loss selling may enter into the picture, but with the market trading near highs this is not likely to be impactful.
Our Outlook
As short term traders, we relish uncertainty and market volatility as times that produce the most fruitful opportunities. On a fundamental basis, the forthcoming Trump presidency will likely create an entirely new financial environment, contrasting the Biden era with efforts to create austerity and efficiency. Shaking up a system fundamentally may be to the benefit of the markets by deregulating and reducing taxation, but ripping a bandage off may also cause short term disarray.
The Soaring Pelican programs have successfully navigated a variety of political regimes over the years by remaining disciplined and adhering to time-tested risk management strategies. We are ready for whatever the market throws us.
Best wishes from us to you in this holiday season!
Sam Beckers and Dario Michalek
Soaring Pelican, LLC
805-322-7393
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. FUTURES TRADING IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK.
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