Hey Guys,
The market has been so strong this week. The S&P 500 is now all the way up at 4,350, which sounded like a normal number two weeks ago, but which seemed very far away when this week started.
Yesterday I cashed in on a lot of positions. In total, seven positions got closed, all for a profit. Fun to have a day like that.
Just a week ago, there was a lot of talk about the poor market conditions. There was fear in the air. As always, I stuck to my plan, acknowledging that I can't predict the future and leaning on history to guide my trading decisions. This week it paid off. The market is still volatile and we don't know where it's headed next, but this week was a good example of why I like to stick to the back-tested trading approach through thick and thin.
With all those positions getting closed for a profit, it cleared the decks of all my positions except for one. It's basically a "buy low, sell high" situation, where the market just boosted us up and we sold high and locked in profits, and now we need to wait for some opportunities to buy low and load back up on positions.
I haven't taken on any new positions yet today. We'll see if the market takes a breather soon and gives us an opportunity to buy.
If you have any questions or feedback, I'd love to hear from you.