A significant challenge to all traders and investors is to strike the proper balance between taking short-term profits and establishing meaningful intermediate to long-term positions. Since we work for you, we always opt to take the cautious avenue to profits rather than shooting at anything that moves.
The belief that the more you trade, the more you make is at best specious, and at worst foolhardy. Given that the major stock averages for the US markets have been trending essentially sideways since the beginning of this year, we have seen relatively few opportunities that balance risk to reward in a fashion that suits our trading criteria. Yes, there have been signals, and these are reflected in our recommendations summary shown above.
My seasonal work strongly suggests that seasonal strength may not begin until September or even into mid-October. That, however, is not written in stone and we are ready to jump into trades as soon as we have signals with appropriate risk levels and profit targets. Until then, we stand ready to move as we keep our powder dry.
We continue to watch JetBlue as this stock sets up for another MAC continuation buy. We have seen JC Penny reach our price target in the past week, and now have an active trade in the stock. See charts below.
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