I’ve Got Some Biotech ‘IRON’s in the Fire
Here are two cover-call trades I’m working on and why they look promising.
Covered Most of These 2 Shorts
I have covered much of my GRNY at $27.30 and JOET at $45.01 shorts now.
I plan to reshort on strength.
Position: Short GRNY (VS) JOET (VS)
Late Morning Market Stats and Charts
– NYSE volume 22% below its one-month average;
– Nasdaq volume 38% below its one-month average;
– VIX index: up 10.73% to 17.86
Positions: None
2 Trade Targets for Crude Oil Using a Conditional Order
As the crude oil price continues to endure volatility, here are two contract ideas.
A Morning Email From Wally Deemer
* From my good pal and fellow employee at Putnam (in the 1970s!) …
Although history doesn’t repeat and doesn’t always even rhyme, this nevertheless evoked the memory of when, at the height of the Nifty Fifty growth stock era in 1972-73 John Neff, one of the greatest value investors aver, came within one quarter of being fired because of his poor performance:
Terry Smith of Fundsmith revealed plans to incorporate momentum factors into the investment strategy and reduce buying quality companies during temporary setbacks. The letter highlights recent sales such as Intuit and potential interest in high-momentum stocks like GE Vernova.
Positions: None
Tech (XLK) Vs. Financials (XLF)
Chart from 9:34 a.m. ET
Positions: None.