Profit In - Two Weeks Out
Reflecting on our trading since November 2021 when we started to axe, over the last week we have been at our busiest since we stopped swinging the axe over a year ago. We've been especially proactive yesterday taking profit from different areas of our book.
In terms of our Futures contracts, we've eliminated all risk from Gold Contracts (GC) and captured more profits from the Nasdaq 100 futures (NQ). This morning, we have cautiously begun to unwind the GBPUSD hedge that was established for the long weekend.
When it comes to our shares, we've removed all risk from NVIDIA (NVDA), which is now a completely free trade forever.
We've also harvested profits from both Advanced Micro Devices (AMD) and Microsoft (MSFT) and started to manage Dropbox (DBX) due to the sell-by date nearing.
Last week we axed Square (SQ) from our portfolio, thankfully concluding our association with Block.
Going forward, we will be looking to expand on certain positions. However, we are ideally waiting for a market pullback which we are anticipating, as detailed in the weekly webinar.
Over the past 18 months, many of us have adjusted positions and then had to apply considerable patience. This has been a worthwhile endeavour as we have seen solid profits, with the ability of partial withdrawals as a result of our recent rebalancing efforts.
As you may recall, we had noted the market's pending upward trend in October 2022. While our assessment was slightly off by two weeks, the market did indeed rise since then. Notably, our call was very much in contradiction to the prevailing momentum, general sentiment and also media mania and noise.
You're also aware that we initiated purchases on April 7th, 2020, just two weeks following the market lows precipitated by the COVID crash.
As of now, we are still in long positions but are waiting for a pullback. As discussed on the weekly webinars, the move-up we are witnessing is being kept up by just a few stocks. Unless more participants join onto this rally, we will apply caution and wait patiently for lower-risk opportunities.
Every week, we delve into the elements of the current market during our weekly webinars. These sessions lay the groundwork for our trading. I know after the COVID crash many missed the subsequent bull run and if you missed this current move-up since October 2022, I urge you to join every weekly webinar so you can get a much deeper feel for the market as we break it down on the webinar.
Enjoy this quarter of profit-taking.
Let's go trade!
