Financials approach earnings season. Beware of investment banks.
This is not a thesis changer for us.
If shares are pressured further, we will add to our position.
We start a position in Freeport-McMoRan and trim some of our Yum! position.
We were active in adding to our existing positions and taking some profits.
We're going to suggest closing the position before the holiday weekend.
We buy in DOW and STI, sell some COST and APC, and will buy FCX on Monday.
The company remains committed to selling its Mideast assets, even if the timing has shifted.
Now we'll see how the government jobs report matches it.
With the AAP team closing the long ED position, we're taking off the call spread too.