Recap of last week
We got the pullback I was expecting last week right on schedule.
We saw this forthcoming, while everyone was frothing at the mouth bullish and we wisely took off 25% of our longs before FOMC for almost 3x.
Now that Trump is back, active trading and management will be more important than ever. Even if you get the primary trend correct, you must trade around a core position ideally taking profit and reloading at strategic points to maximize profits. Now the 25% we closed for a huge profit we can reload at favorable prices, if we so choose to. It also creates a huge cushion for us, while many others are deep in the red from FOMOing after the election.
Was I expecting this magnitude of a pullback? No. Does this change things?
Next move for markets
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