I’m feeling a little guilty. So, I will confess.
I sinned.
I broke one of my own rules.
I bought a bunch of SPY and XLE last Friday because it just felt like they should go higher. It didn’t fit into our strategy. I just looked at the market and said this puppy is going up! Then put my money where my mouth is. It’s turned out pretty darn well so far, but neither you, nor I should be in the habit of making trades like that. (Even though it’s kind of fun when you do).
I feel better now that I confessed. Let’s look at some of our open positions. Things are looking up on the trades where we’re actually following a strategy.
Recent Open Trades…
Energy Sector ETF (XLE) daily
Currently up over 10% from August 8th as price has broken resistance, the orange horizontal line. First target is still $80.
Continue to hold.
Dow Telecommunications Sector ETF (IYZ) daily
Currently up about 10% from November 14th. Price has shot up from support. First target is $34.
Continue to hold.
Post Holdings Inc (POST) daily
Currently up about 5% from November 22nd. Running into a little resistance this week.
Continue to hold.
Alibaba Group (BABA) daily
Currently off 4%. Mid trade trend line adjustment. Continue to hold.
I mentioned XLF last week and was waiting for a better price.
Financial Sector ETF (XLF) daily
I hate when I miss a good trade. This one may have gotten away for now. It just zoomed higher. I hate it when that happens.
There will be another opportunity.
Risk off for now. Giddy up.
Trade Smart,
Don