Post FOMC / Jobs House-keeping

Now that FOMC and jobs are behind us, yields are dropping to adjust, and the market rallies. This is good for us on a number of fronts. We have some risk-assets, which are enjoying this rally … dividends are being paid as well on those, and we’re enjoying the drop in yields on that TLT cash covered put premium we sold. Our 30 Day Bills purchase looks solid.

So here’s what we’re thinking.

If we clear $439 on the SPY, we may begin to look to exit out of the SH position. For now, we’ll keep it. I know I was talking about a mean reversion yesterday, but at some point, it should come.

There are a few other assets I’m looking to buy, namely …

Wells Fargo (WFC): At this point, I’m waiting for a retracement, to buy. Again, half-sized position to what I would otherwise consider a ‘full-sized’ position. But I’m waiting for a retracement after this surge. Down to $40.50 or so would be ideal.

Utilities Select Sector SPRDR Fund (XLU): I’m going to check this one later today, as I would like to see a retracement. Here, I don’t see us as extended as Wells Fargo (WFC). So I might check back on this one later today, and may make a purchase here … again a half-sized position … as early as later today.

High Yield Junk SPRDR ETF (JNK): I have made no secret, that Junk, has absolutely confounded me as of late. I’ve always liked to hold a ‘little’ junk, and am willing to do so now. I’m just curous as to whether we see $91 or $89 first, and am waiting to see.

Invesco Emerging Market Debt ETF (PCY): Again, interested in a buy. Again, a half-sized position. Like Wells Fargo (WFC), I would like to see a bit of a retracement, though I’m not too sure we would get ‘much’ of one, on an instrument such as this; due to it’s very nature.

Seagate (STX): A long-time position for myself personally? Again, I’m waiting for a retracement before making a purchase.

Efficient Core Fund (NTSX): Again, this is a long time position for myself. Again, this is one I may be purchasing as soon as this afternoon. We’ll just have to see. And again, it would end up being a half-sized position.

That’s it for now. I’m just ‘peeking at my cards’ so to speak. No moves as of this entry. I may post later if I make any moves this afternoon.

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