Short Granny
I am re-shorting ($GRNY) at $27.55.
Positions: Short GRNY (S)
Granny Covered
Housekeeping item.
I have covered my $GRNY short at $28.08 for a small profit.
I plan on reshorting this trading sardine on any rally.
Position: None
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)
GRNY, NVDA Shorts
I shorted more $GRNY and $NVDA this morning.
Positions: Short GRNY M NVDA S
Things I Did Today
Here are today’s things:
* I added to $MSOS at $4.22 and $GLAS at $4.25 longs.
*I added to $PEP long at $125.87.
* I am reshorting $GRNY at $28.43.
* I added to my $NVDA short at $232.98.
Position: Long MSOS common (VL) and calls (S), PEP (M); Short GRNY (M), NVDA (S)
GRNY, PEP Moves
I added back to my $GRNY short at $28.43.
Selling on a scale higher.
I added to my $PEP long at $125.58.
Positions: Long PEP M, Short GRNY VS
My Positioning
* I have no index shorts on as we start Friday’s session…
I am quite bearish but also – though many may still not realize – practical.
I currently have no Index shorts on.
For months I have utilized my $SPY/$QQQ Index shorts as trading sardines – selling strength and covering weakness.
This has proved profitable (as we seemed to have been in a trading range over the last two months). At some point I am hopeful that will change, with the primary trend turning lower – for many of the reasons I have discussed in my Diary.
But my adoption of shorting the ETFs will continue to be from the prism of “trading sardines” until I see a momentum change in the markets.
So, for now, they remain trading vehicles. As posted in my Diary:
* I covered a medium sized position of $SPY/$QQQ shorts on the Wednesday whoosh lower for a profit.
* I shorted a small sized position of SPY/QQQ Wednesday evening as the markets recovered.
* I covered the small-sized position on Thursday morning as the markets suffered (again for a profit).
Also, yesterday, while I was at meetings I covered most of my medium-sized $GRNY short, which I plan to reshort on strength as soon as today.
The same could apply to shorting the senior indices if the early strength continues….
Positions: Short GRNY VS
Things I Did Today
Here are today’s things:
* I covered all of my Index shorts: $SPY $772.55 and $QQQ $751.41 (for a quick profit from last night).
* I am back buying $PEP at $124.88
* I added to $MSOS $4.39, $GTBIF $6.61 and $GLAS $4.99
* I added to $GRNY short at $28.49.
Long MSOS common VL calls VS GTBIF S GLAS S PEP M
Short GRNY M
As Gold Goes So Goes Equities (Short Term)?
* Play along with me on this one!
As I have mentioned recently I have noticed that on a very short-term basis $GLD has led $SPY.
GLD has rallied about +$2.50 from the lows after being -$8.
As GLD rallied so did the SPY.
But GLD seems to be making no headway after the dead cat bounce. Will SPY resume its downtrend over the balance of the day?
Maybe.
But I have still not reloaded on the short side, save the additional short in $GRNY.
And I have certainly not replaced my covered index shorts from the whoosh lower in the AM.
Position: Short SPY (VS), QQQ (VS), GRNY (M)
Adding to My Short
Adding to my ($GRNY) short at $28.51.
Positions: Short GRNY (M)