August 14, 2024

Taking profits here, and setting stops.

I bought around 5150-5200, and now we are around ~5420 SPX at 10:13 AM EST on 8/14/24 ; about a 5% move, and so one must take some profits and protect them.

I started building a position in JPST about a 5.2% income generating ETF. I went on margin to enter this position, and stop-outs will reduce my margin. Warren Buffet has started building a substantially high cash position and invested heavily in treasuries. While, I am definitely no Buffet, I must take into account his actions and assume they come from a place of wisdom.

Not sure if we come all the way down to 5k-5.1k for a retest, or we have a mini-profit-taking move down (50-100 pts on SPX) and continue back up. Or if this is a shake-out.

Regardless, my focus right now is managing risk.

Disclaimer: Please note that all information shared here is for informational purposes only and not intended as financial advice.