Trade Alert For Equity & ETF Models
This morning we are selling 100% of JP Morgan (JPM) as higher rates, Fed tightening, and weaker consumption data suggest major retail banks may have some challenges ahead. We are holding on to Goldman Sachs for now and monitoring that position carefully. We are looking to add financial exposure in a non-bank area opportunistically. We are underweight equities, and with the market overbought short-term, we will wait for a pullback to increase exposures.
- Sell 100% of JP Morgan Chase (JPM)
- Reduce XLF by 1% of the portfolio
Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube
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