Stock Market Update
Hey fellow traders. It looks like the markets are finally taking a breather during this huge run up. The best strategy to do now is look for high quality names which are experiencing a pullback in the market and once the market rebounds then you can buy these high quality names at lower prices. I like the technology and financial space right now with names like AMZN, AAPL, GOOG, GS, JPM, BAC to name a few.
Also, an update on our natural gas position in UNG. It had a nice pop up and then the ETF sold off. We are kinda disappointed in this position but took some small profits. We’re closely monitoring to see if there is enough buying momentum to push it up. We’re sitting nicely in our GDX position. The Greece crisis is still a worry and the US dollar is still weak so people are moving to gold as a safe haven.
The markets are going higher as upward momemtum is still very strong. We’ll keep you posted whenever we see any good opps.
Mike
