Buying into a 11% rally (SPX) in just 6.5 trading sessions is bad risk/reward. the trading week thus far is boring and is requiring much patience. patience however will get rewarded if we exercise discipline.
at this stage our portfolio is fairly flat and we are looking for a little pause/pullback of this rally. until such time we are waiting and observing from the sidelines…as plenty of the smart money we speak with also seem to be doing.
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