Profit-Taking In LQD And XLU Positions: Assessing The Situation
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Earlier today, I told my premium members that I had taken profits on my LQD and XLU long positions. I feel good about LQD, but the jury is still out on XLU. Since I partly blew the puts so bad, I’m wondering if I’m in the midst of blowing the calls as well. Here we see that XLU has challenged support a couple of times, but has yet to break it.
My original target was 59.28, and I didn’t come anywhere close to it. Time will tell if I’ve managed to blow this thing in both directions.
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