A Market Tale Full of Sound and Fury Signifying Nothing
It was an extremely busy day with 8 major events, but there was only a muted market reaction.
Digging Into Comments from IBM and JPMorgan Chase
What we find is supportive of AI adoption and usage, and several Portfolio holdings.
Things I Did Today
Here are today’s things:
* Shorted the indices: $SPY at $752.83 and $QQQ at $722.13
* Covered my index shorts for a profit: SPY at $749.63 and QQQ at $717.82
* Shorted $GRNY at $27.86 and $JOET at $45.83
* Shorted $JPM at $338.50 and covered it at $327.31
* Reshorted $JPM at $343.78
* Shorted $MS at $230.43
* Added to $MSOS at $4.65, $MSOX at $2.73, $TRLV at $8.85 and $VRND at $6.08
Position: Long MSOS (VL), MSOX (S), TRLV (S), VRND (S); Short GRNY (M), JOET (S), JPM (S), MS (S)
Back Shorting JPM
Back shorting JPM ($JPM) at $343.01.
Working on a scale higher.
Positions: Short JPM S
IBM and the Market’s Mood: 8 Key Items Shaping the Stock Market Tuesday
Trump says we’re back at war, June CPI and Warsh on deck, bank earnings, and other headlines are moving stocks this morning.
High-Stakes Fighting in Hormuz; Hostage to Hynix; Fading ‘Memory’ Basket?
Here’s how I’m handling my memory/storage trades as DRAM ETF, stocks like SanDisk take a hit; also let’s check Iran, the Fed and bank earnings.
A Profitable Short
I just took more than a ten dollar gain on my JPMorgan ($JPM) short.
Covered first tranche at $337.46 and the balance at $335.95.
Position: None
Inflation Concerns Explode as Oil Surges and AI Spending Worries Jump
Bank earnings, CPI, and Warsh testimony will keep investors focused on inflation.
Superficial Instant ‘Analysis’
The superficial instant “analysis” of JPMorgan’s ($JPM) EPS report resulted in a +$5 gap higher in the share price.
I aggressively shorted JPMorgan in the premarket (after the EPS beat, more on the ratonale shortly!) at $338.50.
Position: Short JPM (S)
JPMorgan Lifts Price Targets for 2 Portfolio Holdings as Iran Tensions Rise
Here are the upcoming reporting dates for the Portfolio’s holdings.