If you are not yet familiar with our bucket 2 swing trading entry and exit rules, please watch the ‘Bucket 2 Swing Trading Entry & Exit Timing’ video HERE
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Booking Profits in ITA & Adding XLE to Bucket 3
Today we are booking profits in our bucket 3 long idea in ITA as it has reached our profit target #1 at $130 over the past couple of trading days.
We are also adding XLE (energy sector) to bucket 3 long ideas due to the structural tailwinds for energy as well as the ‘breakout potential on the chart that we have been discussing for the past week or so.
XLE Target 1: $100
XLE Target 2: $110
While we don’t offer options positions for bucket 3 investments given the multi-quarter/year time frames, one can consider using simple options spreads for these positions if proper risk parameters are used and the options spreads are continually rolled
As a reminder, for bucket 3 investment positions we don’t work with a hard single factor price stop because the positions are based on structural, trending and fundamental themes. We will close or stop out of a position if and when the structural or fundamental situation changes.
CHART
