I’m adding a little to SPY today.
I’m tired of waiting for the mysterious Mr. Pullback Breather to show up. He is usually late but he is really late this time. Maybe he died? I think he’s in a long hibernation and the bears can’t even wake his ass up.
S&P 500 Index ETF (SPY) daily
I will be adding to almost all open positions over the next month or two…probably.
As I do, I will notify you the day before I add. By the way, I always make my trades between 9am and 10:30am Pacific Time. And, never after hours.
So, the new position in SPY is purely based on the momentum of price action. I’m risking about 5% if the trade goes bad in a hurry. Most worldwide markets are on fire. Time to start adding to positions.
Depending on price action, as usual, I will most likely be recommending more buy alerts over the next few weeks.
I must tell you it is really difficult to buy more of the market at this time of year. The best trades are many times the most difficult trades to make. Don’t be afraid, be aware and know your risk.
Trade Smart,
Don