The “reversal” in financials continues:
* JPMorgan ($JPM) -$5.30 after being +$6. Wally Deemer confirmed to me a possible downside day if things stay the same
* Short Morgan Stanley ($MS) is about even on the day after being +$5 in the early going (added $228.47)
* Short Goldman Sachs ($GS) is +$4 after being +$26 (added at $1,119)
* American Express ($AXP) -$2 after being +$7
And so on and so forth…
Position: Short GS (VS), MS (VS)
Given the dominance of machines I have given the market a fairly wide berth in shorting this rally today.
I have steadily but slowly increased my index shorts.
Looking forward to the long weekend and the U.S. Open!
Position: None
Japan, Korea and Taiwan are setting new records, while a potential trade to exploit the high degree of leverage creeps into the system.
The grocery giant spoke to some key investing themes in its latest comments.
Steven ‘Sarge’ Guilfoyle reveals the wild story behind his career pivot—and the moment that changed everything.
As the president sends shares on the move, we’re revisiting our target price for the foundry name.
Here are today’s things:
* Re-shorted $SPY at $746.68 and $QQQ at $736.53.
* Re-shorted $GRNY at $27.49 and JOET at $45.57.
* Added to cannabis longs: $MSOS ($4.69), $MSOX (new position) and GTBIF ($7.49).
* Shorted more $MS at $228.47.
Position: Long GTBIF (S), MSOS (VL), MSOX (VS); Short SPY (S), QQQ (S), GRNY (VS), JOET (VS), MS.
The stock remains in a range after a couple of violent moves.
– NYSE volume 154% above its one-month average;
– Nasdq volume 105% above its one-month average;
– VIX index: down 7.75% to 17.01
Positions: None.
I added to index shorts as the market makes a high for the day:
* $SPY $746.83
* $QQQ $738.73
Proximate reasons: extended memory stocks (moving to Ludacris Speed!) and the outside day to the downside in JPMorgan ($JPM).
Position: Short SPY (S), QQQ (S)
