Our purchase of NVIDIA Corporation (NVDA) yesterday popped quite nicely today … up almost 6% in a single day.
Kind of makes a guy feel like cashing in. “No Don, stick to the rules and use the strategy.” “OK, fine.”
Excuse me for talking to myself, but I am 60 now and I believe it’s acceptable. Now, what was the point of this update? Oh, now I remember. It wasn’t to toot my own horn.
Remember the SPY buy signal we published on November 28, 2011? Two days later the DOW was up 490 points.
The point is, you can see the power of trading around critical price areas. Yes, the moves can be significant in either direction, which is why we need to stick to our plan, follow the strategy, and only sell to protect downside risk.
Remember, we might be protecting downside risk to either take profits or limit losses. Capiche?