I closed STX and VALE again 50 % of my remaining positions but its a hard one for me. On the one side both trades made huge profits and nobody got broke by taking out money. On the other side they are forever trades. If you are lucky enough to catch such moves like these both here, the best option for me is it to declare them as “forever trades”. I have written on this topic in German language here.
On the third side i have to overcome my emotions and so i closed out the remaining 50 % and will wait with a small portion for more price action. For closing forever trades we need reasons. STX is making a topping position and i am watching that there are several days with more than 3 % downside days. VALE has still some sensational fundamentals but Brazil and the EM currency markets are under pressure. How long will the bull market last? 2-3 years more? Nobod knows but the bull market is definetely mature. The last 5 trading days the OEX PCR were all above 1, which means there are bought more puts than calls from the smart money. I do not call a top but i need more hints and cliues from the market. We will get these answers above 286 and below 252. Market is definetly preparing its next move so we need to stick to our trading plan.