Sold half of UPRO here to lock in gains as it has now hit all-time highs and I wanted to reduce our risk in the name. Stocks are still cheap, however, so I rotated back into the portfolio some more out-of -favor stocks disliked by wall street. After you read this update, I will initiate a new position in NOV and VALE- both are high quality, previously high-flying names. Analysis to follow. (Subscribe to get now.)
Ok now here is NOV’s chart: (This is the definition of buying low, selling high).