Trade Alert For Equity and Sector Models
In this morning’s Commentary, we wrote: “Overbought conditions are now pushing the highest level since the March peak, so profit taking is likely. What will be key to this rally is a pullback to the 50-dma that holds and works off the overbought condition. A failure of that level will lead to a retest of recent lows and a likely break to new ones. We took profits in our Amazon (AMZN) trade yesterday and will likely reduce risk a bit more here depending on today’s action.”
And that is exactly what we are doing this morning.
- Sell .5% of AAPL
- Sell .5% of MSFT
- Sell .5% of XLK
Michael Lebowitz, CFA is an Investment Analyst and Portfolio Manager for RIA Advisors. specializing in macroeconomic research, valuations, asset allocation, and risk management. RIA Contributing Editor and Research Director. CFA is an Investment Analyst and Portfolio Manager; Co-founder of 720 Global Research.
Follow Michael on Twitter or go to 720global.com for more research and analysis.
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