For the latest week, the Short-Trading Portfolio gained 10 basis points, just under the 12 basis points gain on the S&P 500. The weekly performance renders the portfolio down 30 basis points year-to-date for a 6.9% relative loss versus the S&P 500. Additionally, the portfolio is up 2.7% since inception for a relative loss of 2.5 percentage points versus the S&P 500, all of which is reflected in the below chart. The below chart shows the portfolio (blue line) versus the S&P 500 (green) and the NASDAQ (brown).
This week's performance was predicated on the eHealth tumbling more than 20% after the release of earnings. This stock was initially a volume off the high a few weeks ago. The most recent performance just shows that volume off the high should be taken seriously and at the very least stops should be in place after an initial observation if not outright sales or short sales. Additionally, Apple shares helped the portfolio performance this week.
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