GS : Booked a profit of 15.06% of the invested capital
I have been holding on to this position for about 9 months. At the current valuation I do believe that the Nasdaq and S&P500 is expensive. So there is a high probability for a sell-off to hit the market anytime soon.
So decided to book profits in some of my positions and this is one of them. Will consider a re-entry if market crashes back to the initial entry levels.
But I'm also aware of the fact that there is a potential move of about 16% to the channel high, which may be achieved in the near future. The decision of FED to pause the interest rate for the 3rd consecutive time may also fuel this move, since this indicates a possibility for a rate cut in the coming months.
So decided to book profits in some of my positions and this is one of them. Will consider a re-entry if market crashes back to the initial entry levels.
But I'm also aware of the fact that there is a potential move of about 16% to the channel high, which may be achieved in the near future. The decision of FED to pause the interest rate for the 3rd consecutive time may also fuel this move, since this indicates a possibility for a rate cut in the coming months.