Scalped a quick 1.5% profit on XLE and XLB

I took profits on my bounce trade on the energy and materials sectors. We netted between 1.5% and 2% one day profit as a result. My timing turned out to be very good.

Currently the market is not trending. Sectors move between oversold and overbought providing for reversion-to-the-mean trade opportunities. This means that if a quick profit on a bounce can be made, it is best to take that profit before it fades.

So far we are weathering the downturn in the market very well. While, as of yet,  the general US market pullback has not been significant, the short term outlook is far from clear. The market hates uncertainty and at the moment uncertainty abounds. The next days and weeks will be very telling; we should know shortly whether or not the old adage "Sell in May and Go Away" is going to ring true or not.

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