Uptrend Under Pressure- selling BABA & EWL

Yesterday Investor’s Business Daily lowered their market status to “uptrend under pressure”.

  • Valuations are high
  • Wall Street is jittery that the Fed will raise rates
  • Politicians are taking swipes at pharmaceutical companies

So in general, conditions are ripe for an end-of-summer swoon.

Today I sold BABA & EWL to lock in profits.  Both look like they’re consolidating lower after hitting a high in mid-August.  I held these positions for about three and a half months as part of a “landmine” strategy.

EWL had a total return (including dividend) of around 4% and BABA was stellar at over 18%.   My landmine approach was conservative but still profitable, I remain holding SBUX & DIS as part of that purchase.  I’m also holding DNO & FXB for speculation on Oil & BREXIT; and a long term hold on WMT.

With 20/20 hindsight, my regret is that I didn’t buy 100% into the post BREXIT dip.  Sometimes caution is the better part of valor.

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