CHESS MOVES

The market has been shaking off bad news, and continues to push higher. Thus, I am shifting gears a bit here. I am taking some long positions, and will add short hedges should we roll over. Note that the same arguments against the strength of this market were also made in early February–namely volume. If you decided not to play back then because of the weak volume, then you missed out on a very big move until mid April. Price is what pays. I am not saying that we will assuredly see another move like that, but it is a possibility. In sum, I believe the health of the market has improved, and I am willing to come back in with a strategy that allows for hedging.

(All buy orders time stamped inside The PPT)

LONG:

1/2 sized positions in $LULU $CRM $IAG

full position in $APKT

TOTAL PORTFOLIO:

EQUITIES: 20%

CASH: 80%

NOTE: These are trading ideas only. If you choose to follow me, please use stop losses to mitigate your downside risk (I prefer a trailing 7-8% stop).

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