mi50 – A great recovery week

After dipping to its life worst draw-down of around 7% last week, mi50 pulled back up smartly to close a percent shy of AllTimeHighs. The mi50 closed at 31.97% absolute returns since Apr 1 2016. A nice looking cup shaped recovery can be seen on the charts while the benchmarks were largely flattish.

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A great turnaround happened in UperGanges this week when it turned from sub 300 levels to 400+ again.  A drop from 500 + to under 300 was well negotiated by the system in place.It now leads with a 230% profit gain.

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There are no changes this week. The portfolio holds 49 stocks and some Liquid Bees.

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KSL, Balamines, BodalChem, CholaFin, EDC Jamna Auto, Kirind, OrientPaper, PEL, are some of the existing stocks in the portfolio gaining more than 50% each.  The worst loser in the mi50 pack is StarPaper at -4%.  The key theme remains ride the winners and get rid of the losers.

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The internals look good with

Wins Avg Losses Avg
51.00 32.77% 15 -4.36%

 

We can now  stick our neck out and say that come what may, mi50 will not lose absolute capital in 201617 and notwithstanding a global equity shock, we are well on our way to beat the initial expectations set for this strategy.

Have a safe weekend.

 

 

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