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
The IRS proclamation that they will looking at 280E guidelines (earlier this week) and the DEA info below seem to be concrete signposts that rescheduling of adult-use cannabis is very likely over the near term:
I added to $MSOS, $GLAS and $GTBIF yesterday.
Positions: MSOS common VL calls S GLAS S GTBIF S
Here are Monday’s “things:”
* I reshorted the indices: $SPY at $771.82 and $QQQ at $752.71.
* I added to cannabis longs — $MSOS at $4.41, $GTBIF at $6.29 and $GLAS at $5.28.
* I reshorted $NVDA at $237.12. I took a small trading loss on much of this short at $237.49.
* I reshorted $GRNY at $28.46.
Position: Long MSOS common (VL) and calls (S), GTBIF (S), and GLAS (S); Short GRNY (S), NVDA (VS)
Here are today’s early things:
* I am back shorting the indexes: $SPY $770.89 and $QQQ $752.24
* I added to $MSOS $4.45
* I initiated a short in $NVDA $235.91.
Positions: Long MSOS common VL calls S; Short NVDA VS SPY S QQQ S
Here are today’s things:
* I shorted $SPY at $771.85 and $QQQ at $752.11.
* I covered SPY at $767.90 and QQQ at $748.45.
* I added to $MSOS at $4.40, $GLAS at $5.10 and $GTBIF at $6.66.
Position: Long MSOS common (VL) and calls, GLAS (S), GTBIF (S)
I added to $GTBIF and $MSOS this morning:
Position: Long MSOS common (VL) and calls (S), GTBIF (S)
* 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
This announcement is procedural and I don’t think a threat to the rescheduling process:
I am using the drop in $MSOS to $4.70 as an unusual opportunity.
Position: Long MSOS common (VL) and calls (M)
As mentioned in my “things” column yesterday, I have aggressively purchased $MSOS calls (for October and November) in the last two days.
This reflects my growing conviction that we are close to a rescheduling of adult, recreational use of cannabis.
Market participants, given the schmeissing of weed equities over the last five years, remain justifiably skeptical of the inevitability and likely short-term enactment of rescheduling.
I am known for playing the “don’t pass line” on equities (craps reference), but in this case my money is on the “pass line.”
Come on, seven!
Position: Long MSOS common (VL) and calls (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)
