Good morning & Happy Friday!
We have now had seven straight days of gains on the SPX. I have not looked but I don’t think that has happened or at least not very many times. I have closed all of my bullish credit spreads for nice profits and now waiting for reasonable prices to get back in. I really don’t mind holding cash and I can be pretty patient. It’s great seeing my stocks move higher but I am not comfortable with a market that only goes straight up. This is what easy money does and eventually, there is a price to pay. But this is the environment that we are in and I think there is a lot of denial with the some of economic issues facing us. One piece of advice: Try not to be the guy that buys at the top!
Talk soon,
Al Losada
Founder | SimpleOptionStrategies.com
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