A significant market trend reversal occurred on March 3, 2023, which led to a 128-point increase in the S&P500 from the previous Thursday’s bottom, with all indices rising nearly 3%. Our market timing firm had predicted this reversal and provided buy calls on Gold (Apr) at 1834 and Silver (May) at 20.50, both of which closed higher at 1862 and 21.38, respectively. We also made profitable long positions in crude oil at 76.45, natural gas at 2.20, which closed at 3.00, and a short position in the dollar index at 105.50. Furthermore, our long position in the US 30 Y T-Bond at 122.00 proved to be profitable.
Earlier, on Feb 23, 2023, our firm had made a public prediction that March 3, 2023 would be a reversal, and we were proven right as the market experienced a sharp reversal following the bottom on March 2, 2023.
Our firm’s successful trades for the week included buy calls on AVGO at 591, NVDA at 230, TSLA at 188.50, GS at 350, and ADBE at 322, along with the purchase of MRNA at a lower level. Additionally, we made a profitable long position in GBP/USD at 1.1950 and a short position in USD/INR at 83.00, which closed at 81.70 on Friday.
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