It never was meant to be a long-term trade and so today, on an analyst upgrade pump I’ll finally take a solid profit on the little birdie. It’s overbought on the daily chart by its distance from both the SMA 50 and EMA 20, but not by RSI. So who knows, it could have more upside. Anyway, fly fly little birdie…
The weekly chart is fairly overbought by RSI in ticking above the previous highs.
Good luck longs, I’m out of here. A high risk market printed by the Fed and legislated by politicians needs to be managed through balancing, re-balancing and cash, not bought and held in my opinion.
Also, I had caught myself admiring the position and that’s never a good thing. Time to get the feel of some more booked profits in a year that has unexpectedly had a lot of them.
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