Bought $5,000 more of the S&P 500 (UPRO) into the close. I have been holding out on buying more UPRO, since we are at the top.
However, since we have consolidated the recent run in the S&P 500, catching up to the 20 day mavg, UPRO looks ready to inch higher.
Normally you would think to buy low, sell high. I agree, wholeheartedly. But look at what the S&P 500 has done every time it has corrected. It consolidated sideways..and inched higher.
Only after UPRO creeps higher (before first consolidating) does it correct again in its typical 5-6% fashion. That’s what I am betting on now: UPRO creeps higher, and so do the stocks in the portfolio along with it.
If I’m wrong, the stop losses are in place for UPRO’s last lot, as well as the other remaining positions.
-Todd Akin
