We have another Profit Alert for our Weekly Wrap for one our current positions as our Stop Limit has come into play. We said coming into the week we wanted to reduce our exposure where we could on a pullback to stock pile some cash and to look for new ideas.
We still like bullish setups but today’s action is also suggesting we could be looking at short ideas as well. Our portfolio is light as we have reduced our exposure to the current volatility and we just need to be patient to see if support holds or the pullback gets much worse.
Our Weekly Wrap Closed Trade Track Record for 2014 is now 12-2 (97-9, or 92% win rate, overall since the start of 2011). Subscribers, check the Weekly Wrap Premium section for the update.