Founder's Trading Journal by 0 Comment We acquired another 25% S&P 500 at 3882.50 for the Founder’s Group mid-day, bringing us up to a 50% position in the core index. The XLF (Financials) and the XLE (energy) ETFs look like pullback buys with W bottoms. The XLE is just above its 50-day EMA, and the XLF is finding support at the 21-day EMA. Both have had their first decent pullbacks since the January runs started, and this may be a good place to nibble. The Founders Group has taken a 5% position in each ETF using “at the money” (strike price near the current price) call options. I will have more discussion out later but I wanted to get this update out before the market closed. A.F. Thornton
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