Bank of AmericaShort
BAC : Booking profits
Booked profit of about 19.28% on the invested capital.
I do realize that there is a potential for a move of about 9% to the next key inflection levels. But considering the overall valuation of the US market and the high interest rate environment and the possibility for a recession to hit the US economy in the near future, I do expect a sell-off. So decided to cut some position and maintain some cash positions.
For that reason I closed the position in this stock.
Will consider a re-entry if price falls back to the low of the channel line.
I do realize that there is a potential for a move of about 9% to the next key inflection levels. But considering the overall valuation of the US market and the high interest rate environment and the possibility for a recession to hit the US economy in the near future, I do expect a sell-off. So decided to cut some position and maintain some cash positions.
For that reason I closed the position in this stock.
Will consider a re-entry if price falls back to the low of the channel line.
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