I finally have decided to cover the short position today. I will however wait for the first 30 minutes before doing anything. Let's not forget that the short IBB balances the long JNJ.
The portfolio is doing OK for now. We closed the Month with a small profit.
I really hesitate to increase long positions here, because of the generally overbought market situation, but there are some interesting investments such as AMJ for example.
AMJ is a MLP ETN that offers interesting dividends. AMJ hangs on oil prices though.
We can see below (weekly chart) that it is bets to buy AMJ when oil prices bounce from oversold levels. It is not the case here yet.
However, AMJ attracts good money. Hence, I might open a first 1/2 long position.
The trade ideas for today are below.