Hey Guys!
The market came down some from where it was yesterday morning, but overall things are still much more tame than they were a week ago.
I closed out my positions on CHTR and LBRDK for a profit this morning since they hit their time limits. Tomorrow I'll be closing out Discover and PNC assuming neither hits a profit target or stoploss today. I have a fair amount of exposure on Financial stocks right now, especially after picking up Bank of America stock today.
Speaking of Bank of America, in back tests it was a solid performer for this pullback trading strategy. It had a 63% win rate, which is higher than the overall group average of about 57%. Maybe we'll have a little extra wind at our back on that trade.
When I look at my portfolio right now, it's a mixed bag. My financial stocks are up a bit along with Kellogg's. My energy positions and everything else are down some. This is totally normal. Yesterday most positions were up more, and today many positions have retreated. This is a standard fluctuation with my approach. In the short run, there will be many fluctuations like this. That is the price we pay in order to try to benefit from the longer-term potential of these trades.