Valuation Worries Build as Investors Run Out of Positive Catalysts
There isn’t much left to drive the market higher as we await second-quarter earnings.
Weekly Roundup: Peace Deal, Warsh Arrives, and the Portfolio Moves Ahead
We closed three positions, began a new one, and added to two others. Plus, we look ahead to the potentially most impactful earnings report next week.
Real Winners and Losers Emerge in Asia After Fed Meeting
Japan, Korea and Taiwan are setting new records, while a potential trade to exploit the high degree of leverage creeps into the system.
U.S. and Iran Sign MOU: 8 Key Items Shaping the Stock Market Thursday
Triple witching, Apple to boost prices and other headlines are moving stocks this morning.
Careful Where You Step in This Market
Tech is looking stretched, housing is looking weak and SpaceX is blasting past powerhouses like Amazon as other AI companies line up to go public.
My Impulse to More Aggressively Short the Indices at 4 AM
When I awoke at 3:30 AM I saw S&P futures +20 handles and the Nasdaq futures +255 handles.
What caught my eye was the outsized gain in the Nasdaq — even though Mag 7 stocks were flat to slightly lower at around 4 AM — it was all due to gaps in semi and memory stocks (especially $MU, $AMD and $SNDK):
I shorted $SPY and $QQQ because I don’t think that outsized influence and divergence continue for a host of reasons.
Position: Short SPY (M), QQQ (M)
Basket of Shorts Covered
Housekeeping item.
Into the afternoon swoon I have covered the basket of high-octane/beta shorts I recently put on.
Some of the stocks in the basket include $MU, $AMAT, $SNDK, $AVGO, $MRVL and $TSM.
As I have noted in the Comments Section, this strategy is not recommended for home gamers!
Position: None
Speculative Short Basket Doubled
I doubled the size of my speculative short basket this morning — and not for most homegamers.
My half life on these baskets are short and I am disciplined as this package includes such high-octane stocks as $SNDK, $MU, $AMD, $AMAT, $MRVL and $TSM among others!
In all likelihood I will cover the package by the end of the day — especially if the market averages keep falling.
SanDisk Hits Magic Number; Semis Surge; Marvell, Micron Jump
How should we approach SanDisk now that it hit our price target? Also, let’s chart the market to see if it’s our ‘cup’ of tea….
The Story to Watch as Lower Oil Drives Renewed Momentum in Chip Stocks
Investors are expecting a more dovish Fed, but the market strength is narrow.