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Happy Monday, everyone. There are just eight trading days left after today in the lovely, lovely year of 2023. I wanted to touch on three ETFs that had been covered over the weekend. First off, there is commodities (DBC) which I suggested would be in for a tumble following that nice tinted rounded top. Well, it’s down hard, and I’m not quite sure why, since oil (its biggest component) is up. Still, down is down.
Yesterday morning, it took every single morsel of determination I could muster to execute what, to my eyes, looked like the perfect trade. My self-confidence at the time was approximately 0.00, but my rational side managed to best my emotional, so I purchased “in size”, as they say, March 15 2024 $68 puts on the XLU at the point I’ve marked. It was one of those rare times when the timing was perfect.
