A couple of things to point out quickly here – I have sold out of BKS and UGI with gains of 12.3% and 5.8% respectively this morning. So right now, I am sitting on 100% cash. The market is extremely overbought, and I’m now looking for some kind of pullback before going long again.

In the meantime, I am looking to go long the US Dollar via (UUP). The dollar is disconnected with the market and the inverse relationship that was once there is no longer dependable. Instead the USD seems to be running on its own despite any major influences by the market, or even Gold (of late). I am looking to get into UUP somewhere between 23.85 and 23.90 today with a stop-loss of 23.52. As the market drops (big assumption there, I know!) I will look to gradually add new long positions to the portfolio.

So here is the chart on UUP with some of my annotations included.

 

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