Another Reason That Consumer Spending May Disappoint
Position: None
Premarket Earnings for Tuesday
Position: None
Once More With Feeling
I continue with the strategy of shorting rallies and covering the small corrections — for a cash register effect.
At some point I will keep the shorts on… but not yet (as, among other things, the S&P Short Range Oscillator is likely to shift back to neutral this week from oversold).
With S&P cash -9 handles I have covered my index shorts:
* $SPY $777.59
* $QQQ $745.96
From Friday — my cost bases were:
* SPY $779.22
* QQQ $752.61
Position: None
Midday Musings
Consumer non-durables (staples) leading the pack today: $PG, $PEP, $KMB and $KO.
Position: Long PG (VS), PEP (M), KMB (S), KO (VS)
Winnebago Has Been Short and Sweet for Me
Investment short Winnebago ($WGO) has just hit a multi-year low.
WGO has been in my portfolio for more than three years.
It was put on my Watch List (short) on 3/21/2023 at $69.67.
The shares are currently trading at $22.99.
Position: Short WGO (S)
Things I Did Today
Here are today’s things:
* I shorted more $GRNY at $28.47.
* I added to my $NVDA short at $228.18.
* I added to $GLAS at $4.01 and $MSOS at $4.24.
As you can see I have been relatively inactive today…
Position: Long MSOS common (VL) and calls (VS), GLAS (S); Short GRNY (M), NVDA (S)
Please Hold…
I apologize for the dearth of posts but I have been on an extended company call.
Back soon!
Position: None
Chart of the Day
This is not likely sustainable, despite the bulls’ protestations:
Positions: None
Charting the Late Morning Market
– NYSE volume 20% below its one-month average;
– Nasdaq volume 25% below its one-month average;
– VIX index: up 3.17% to 15.31
Breadth
SOURCE: Interactive Brokers
S&P500 Indexes
SOURCE: Barchart
% GAINERS, DECLINERS
SOURCE: TheStreet Pro
Nasdaq 100 and S&P500 Heat Maps
SOURCE TheFly
