The Founders Group just added another 5% to its swing position in 11/19 Expiration SPY 440 calls when the SPY itself was trading at 438.50. This brings our total position to 15%.
Recall that we have been in a Navigator Algo buy signal since yesterday morning. However, given the run-up that triggered it, we are trying to accumulate our position slowly on pullbacks.
Even though we have a buy signal, and we believe that the short-term downtrend has broken, we are not out of the woods yet. Our near-term objective remains 4460 on the futures and just under 445 on the SPY.
A.F. Thornton