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)
VIDEO: Anthropic, Apple and Inflation Set Up Pivotal Week for the Market
Plus, ASML’s price hikes rumblings and implications for Applied Materials.
How to Allocate a Safe Portfolio as Indices Mask Broad Weakness
Passive investors continue to be too complacent about economic and geopolitical risks.
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)
Let’s Take a Look at Wealth in America
The Fed’s triennial Survey of Consumer Finances showed income gaps narrowed while wealth gaps widened. Debt stress rose even as more families reported increased spending.
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
