Founder's Trading Journal Update on Buys by AF Thornton Mar 25, 2021 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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AF Thornton Website: https://tradingarchimedes.com A.F. "Arthur" Thornton is an expert in logic, risk/reward quantification, market fractals, pattern recognition and asset class behavioral analysis with 34 years devoted to developing algorithmic and quantitative trading systems. In addition to trading his own capital, Mr. Thornton designs custom algorithmic and quantitative trading systems for a small and exclusive group of exceptionally qualified traders.