Closing Trade (BAC, NFLX) – Thursday, Nov 7th, 2019
DailyPlay Positions Outlook:
The S&P 500 (SPY) closed at all-time highs today after breaking above the major resistance level of $302.50 last week. We expect this to clear the way for markets to move higher as corporate profits look strong, trade wars move towards resolution and economic data look stronger than expected. We are taking this opportunity to reduce our short exposure (NFLX) and take profits on stocks that have reached overbought (BAC).
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