* I have meetings at 10:30 a.m., 2:30 p.m. and 3:30 p.m. so I am keeping you up early…
Here are today’s things:
* I sold my $GLD at $386.34
* I added to $GLAS $6.15, $GTBIF $7.14 and $MSOS $4.65.
Positions: MSOS common VL calls M GTBIF S GLAS S
I sold my $GLD long at $386.34 (+$3.50).
Positions: None
I’m adding to $GLD at $380.55.
Position: Long GLD (M)
Here are today’s things:
* I covered most of my Index shorts:
$SPY $766.95
$QQQ 736.75
* I covered my relatively large $GRNY short at $28.02 and eliminated a small $JOET short at $45.14 .
* With $CVNA down by -$5 I sold my CVNA puts. I remain short common.
* I added to long in $MSOS at $5.09 (common) and bought a crapload of calls for October and November. Added to $GTBIF at $7.70.
* I added back to $GLD at $380.30 today — replacing what I sold on Friday (when I substantially reduced my GLD on a rally at $394.94). I got very lucky for the second time on the precious metal, remember I sold my prior position of this trading sardine at over $400 about a week ago.
* I paid $26.01 for more $WRTH long.
Position: Long MSOS common (VL) and calls (M), GLD (L); Short SPY (VS), QQQ (VS), CVNA (VS)
Here are today’s things:
* I covered a lot of my Index shorts:
$SPY at $769.38
$QQQ at $739.9
* I added to my $GRNY short at $28.45.
* I reinitiated a $GLD long at $392.63.
Position: Long GLD (S); Short SPY (S), QQQ (S), GRNY (L)
It’s hard to be either bullish or bearish on the entire market right now, but selectively, there are some great trades to be made.
If $GLD leads $SPY as I suggested it might, the strength in GLD augurs well for stocks into the expiration.
Position: None
I posted this last night (many missed it) about $GLD correlating to short-term moves in the S&P Index $SPY.
So far, so good, with S&P cash -14 handles this morning:
* Looking at correlation between GLD (leading) and SPY (lagging)…
Not exactly an awful close, but the S&P Index did fall about 11 handles (as GLD fell by over -$3) —modifying this post:
Just Wishin’ and Hopin’?
Just a quick observation.
Gold seems to be moving with equities.
Actually it has been moving slightly ahead of stocks — by anticipating some short-term movement.
If that is the case, with GLD trading down from $401.44 to $388.75 — some stock weakness may lie ahead over the balance of the day.
Or I may be wishin’ and hopin’ like Dusty Springfield.
Wishin’ And Hopin’ (Stereo Version)
Position: None
BY Doug Kass · Sep 17, 2026, 2:50 PM EDT
This might be a reasonable tool for short-term traders. I will watch the correlation in the days ahead.
Position: Short SPY (S)
BY Doug Kass · Sep 17, 2026, 5:37 PM E
Positions: None.
* Looking at correlation between $GLD (leading) and $SPY (lagging)…
Not exactly an awful close, but the S&P Index did fall about 11 handles (as GLD fell by over -$3) —modifying this post:
Just Wishin’ and Hopin’?
Just a quick observation.
Gold seems to be moving with equities.
Actually it has been moving slightly ahead of stocks — by anticipating some short-term movement.
If that is the case, with GLD trading down from $401.44 to $388.75 — some stock weakness may lie ahead over the balance of the day.
Or I may be wishin’ and hopin’ like Dusty Springfield.
Wishin’ And Hopin’ (Stereo Version)
Position: None
BY Doug Kass · Sep 17, 2026, 2:50 PM EDT
This might be a reasonable tool for short-term traders. I will watch the correlation in the days ahead.
Position: Short SPY (S)
