Things are busy this morning; therefore I do not have much time for discussion.
I will admit to being quite nervous about this market. The easiest trades should feel effortless, conversely I feel like I am reaching a bit by taking on my highest levels of risk this year. How this resolves is anyone’s guess, but I am positioned for another leg higher.
Yesterday built confidence through the 2+% appreciation of several of my positions. The advance was quite orderly, not a gap higher and do nothing kind of situation.
This morning I am seeing a lot of red, but premarket has not really been a very telling barometer for the remainder of the session of late, so I should probably just ignore what is going on there.
Lastly, as I have alluded to on several occasions, I decided to add (double) to my CNO position yesterday right before the close at 11.46.
We are back to 14% cash in a car made of dynamite sticks; however we have not yet set a course for the heart of the sun.