This post was just published on ZYX Buy Change Alert
The position is long with an average price of $34.14. Currently, 15% of the full core position size is being held.
There is no change in our fundamental thesis on JPM. More profits are yet to come. However the market is over bought and in keeping disciplined of our method it is important to book some profits. The plan is to add more at better prices.
What To Do Now?
Those in the position and are large accounts may consider taking profits on a 5% tranche around $38.67.
Those in the position and are small accounts who are holding some cash may consider maintaining the position.
Those not in the position may wait for a signal on the Real Time Feed to initiate a position.
