|UPRO (S&P) 1 year||UPRO (S&P) 3 months|
Good first week for the portfolio. Markets were down but overall, we managed to eek out some gains by trading SPY calls consolidating along the 200 (black line). Furthermore, we were prudent in adding to Terex (TEX), and nibbling away at UPRO, even in the face of heavy selling pressure. Terex at 16 is a steal, especially after its’ blow out earnings report. Markets are getting cheap, but they can always get cheaper. So beware, although I think we are due for a bounce. S&P oscillators are pointing to extremely oversold conditions. Happy Memorial Day weekend everybody!