Hey Guys,
The market is up yet again. The market environment just 10 days ago was volatile and fragile, and since then we've had a week of clear market strength. I'm not suggesting we're out of the woods on the market volatility, but there is certainly a different feel in the market right now.
I locked in some more profits. I had one position hit a profit target yesterday midday, and I closed out two more this morning for a profit (LNG and OKE). Those both hit their time limits so I manually closed the positions. The second video on this page shows how I go about closing stock positions that reach their time limits.
I haven't picked up any new trades today. If you look at the watch list, every ticker on there is from the Utilities sector. So we're kind of waiting for the whole industry to pull back a bit here. It's not unusual for entire sectors to show up on our watch list at the same time. A lot of times stock prices in the same sector move together.
Aside from that industry there aren't a lot of trades right now because the market has been racing upward without taking a breath. Since my core trading strategy is based on trading pullbacks, I typically jump into action when stocks take a breather after racing upward. So most likely when the market chills out a bit from its recent run, then it will trigger more trades.
If you have any questions or feedback, I'd love to hear from you.