Mea Culpa
Real stupid cover in my $GS and $MS shorts.
Dumb squared.
Position: None
VIDEO: Micron’s $100B Deals, ‘Irrational Exuberance’ and the Market’s Next Move
We like the rash of bank dividend increases, but remain focus on the engine driving them.
Oil Falls to Pre-War Levels: 8 Key Items Shaping the Stock Market Thursday
Micron’s blowout earnings, May PCE, Bank dividend announcements, and other headlines are moving stocks this morning.
More Reasons to Pay Attention to Micron’s Earnings and Guidance
SK Hynix is teeing up a U.S. IPO, and it stands to benefit these two holdings.
Is This Just the Latest Example of Algorithmic Overshoot?
Let’s get real about South Korea’s wild market swings, a new ADR listing, oil’s decline, the DJIA, and what I’m seeing from the S&P 500.
Things I Did Today
Here are today’s things:
* Covered 1/2 of my $SPCX short at $153.85.
* Covered brokerage shorts in $MS at $222.51 and $GS at $1,080.90.
* Covered tech shorts: $DRAM at $70.26, $SNDK at $2,051 and $MU at $1,099.
* Covered $IWM short at $293.33.
* Added to cannabis longs: $MSOS at $4.50, $GTBIF at $7.28, $TRLV at $8.55 and $VRNOD at $5.29.
Position: Long MSOS (L), GTBIF (S), TRLV (S), VRNOD (S); Short SPCX (VS)
The Reversal in Financials (Part Deux)
The “reversal” in financials continues:
* JPMorgan ($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 +$7
And so on and so forth…
Position: Short GS (VS), MS (VS)
Monday’s Market Settled Nothing, Though There Is a Bright Side
An up day for stocks. Well, about half of them, that is. Here’s what I’m watching.
The News Is Out
Now that the SpaceX ($SPCX) IPO has occurred I am back shorting the beneficiaries of that transaction:
* $GS $1067.89
* &MS $215.15
Position: Short GS (VS), MS (VS)