This post was just published on ZYX Global Multi Asset Allocation Alert.
QLD is long from an average price of $59. As of this writing it is trading at $104.03. This is a prime example of having patiently waited to buy at the right price and now selling it into strength at nice gains. The exit zone is $103.48 to $105.73.
If you want to keep it simple, you may consider exiting right here. On the other hand if you want to squeeze in potentially more juice, then scale out but put a stop right under the low band of the exit zone.
A Special Note To Help You
Please read note 7 on Getting A Running Start Guide. It is being reproduced here for your convenience.
Avoid the most common mistake — understand the true nature of the markets. Making money in the markets is quite different from most other endeavors in life. If you decide you want to go to Starbucks to get a cup of coffee right now, it is perfectly fine to do so. To the contrary when the timing is not right, if you decide that you want to buy a certain stock now or put a certain sum in markets now irrespective of the risks, you will most likely lose money over the long-term. Markets are not your slaves; to be successful you must not enter positions at your will or desire, but only when the markets give you the opportunities. There are times when there are not many opportunities and there are times when opportunities are abundant. To be successful, you have to be patient and disciplined.
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