Sit Tight and Watch This…
Last week, I reviewed each of our current open positions, letting you know which ones are essentially “write-offs,” and which still hold promise for profits. Click here to read that update if you missed it. Namely, I highlighted our bearish positions on the Real Estate Select Sector SPDR Fund (NYSE: XLRE), the Technology Select Sector SPDR Fund (NYSE: XLK) and the SPDR S&P Regional Banking ETF (NYSE: KRE) as having solid potential with the broader market hitting a bout of weakness. That expectation now seems to be playing out … I’m happy to report that our put options on KRE are now up more than 60% after we took the opportunity to lock in a profit of 50% on one-third of our position last week.
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