More Tales From Nvidia: Cassandra Unchained (Issue #214)
From Michael Burry:
Position: None
The Iran War Is Back and Causing Broader Market Weakness
Rotational action has been a safe haven, but it is now under pressure.
A Noble Thought
From my pal George Noble:
Position: None
Not Climbing the Wall of Worries
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Taco Wednesday?
Position: None
An Observation on ‘Newsy’ Events
* Trading opportunistically and dispassionately…
Yesterday, among other activity, we added to shorts in $GRNY, $C and $JPM.
I remain bearish.
Today’s ceasefire news will likely provide an opportunity to cover some shorts — something I like to do in a “newsy” backdrop.
I would anticipate reshorting the inevitable rallies than have followed a breakdown in negotitations with Iran.
Position: Short GRNY (L), C (M), JPM (M)
S&P Oscillator Still Overbought
The S&P Short Range Oscillator remains overbought at 3.28% vs. 3.20%
Position: None
Ceasefire ‘Over’?
Break in!
President Trump’s ceasefire comments are taking futures lower (and crude prices higher) in the last hour:
Live updates: Trump says Iran ceasefire is ‘over’ after new attacks, but negotiations can continue
Position: None
Tuesday’s After-Hours Advancers and Decliners
After-Hours % Advancers
After-Hours % Decliners
Position: None
Closing Market Stats for Tuesday
Closing Volume
– NYSE volume 13% below its one-month average
– NASDAQ volume 27% below its one-month average
– VIX index: up 3.73% to 16.15
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Position: None