Charting the ETF Action in the A.M.
Positions: None.
Treasury Auctions, Econ Calendar
Treasury Auctions
11:00 a.m.: Treasury hosts a $72B 17-Week Bill Auction;
11:00 a.m.: Treasury buyback announcement (liq support);
1:00 a.m.: Treasury hosts a $39B 10-Year Note Auction;
Economic Calendar
Positions: None.
Sold SPY, QQQ
S&P futures are now -40 handles (an improvement of +30 handles) and I have sold my trading long rentals for a quick and profitable trade:
* SPY ($SPY) $743.47
* QQQ ($QQQ) $704.23
From earlier:
Index Trading Long Rentals (720AM)
* SPY $740.96
* QQQ $700.16
Positions: None
Charting the Moving Percent Movers
Positions: None.
Took Trading Long Rental in the Indexes
From Comments Section:
D
Dougie Kass
35m ago
Index Trading Long Rentals (720AM) * SPY $740.96 * QQQ $700.16
Positions: Long SPY VS QQQ VS
Wormer Dropped the Big One!
* What the hell happened to the Delta I used to know?
“Was it over when the Germans bombed Pearl Harbor?”
– Bluto, Animal House
In taking a trading long rental I am relying on the past statements of policy by President Trump.
It’s not over until he says it is over.
Where’s the guts? This could be greatest night of our lives.
Not me, I am not going to take this.
This could be just a futile and stupid trade, but we are the guys to do it.
Let’s do it.
Stay opportunistic and trade dispassionately.
Position: Long SPY (VS), QQQ (VS)
Bad ‘Memory’!; I’m Trimming & Bailing on These Tech Stocks; Peace … Out?
It’s looking tough out there on several fronts, including on Iran, the storage/memory stocks like SanDisk and Seagate, and tech names like Intel.
My Comment of the Day
Dougie Kass just now
Trade the News reports: “Reportedly Pres. Trump did not repeat termination of interim deal with Iran during the NATO summit.”
Position: None
The CNBC Panelist Said What? (Issue #9)
Position: Short MU (VS)
Apple… Sis Boom Huh?
Yesterday CNBC’s Halftime show universally applauded Apple ($AAPL). The cheerleaders were led by an uber confident (oops, another poor-performing investment recommendation ($UBER)!) and assertive (and even sometimes yelling) panelist (Josh Brown), signaling that Apple’s shares are the premier investment in the Mag 7:
Josh Brown likes this ‘sleeping giant’ AI play and Magnificent 7 member
Here is a contrary view (something that is rarely considered in the business media that worships at the altar of price) — focused on the company’s valuation at 10.4x sales (the highest in history) and that, fundamentally, Apple’s sales have been roughly flat for five year:
Caveat emptor.
Position: None