PEP Sell
Selling more ($PEP) on the premarket gap (now +$7 in the last week).
Position: Long PEP VS
A Low Drama Day
* TGIF!
With three hours left in the trading week, markets seem to meandering (though they have recovered about half of yesterday’s decline.
Breadth is uninspiring and so is the volume low.
The indices full of sound and fury — gapped higher, retreated, advanced and are stable now.
The strength is a bit surprising considering that yields are up for the second day in a row — and back to where the Treasury announced their intentions.
The algos seem quiet with some strength in Mag 7 after an awful day yesterday and memory/chips exhibiting some further losses.
Financials were stronger in the morning and have given up most of the gains and then some.
Consumer staples-are showing strength (with $PG and $PEP leading the way) — somewhat surprising considering the better market tone. $KO looks about to make a 52-week high.
Cannabis is trying to break out of a trading range… to the upside.
I see little in the way of extremes (from a sector or stock standpoint) or trading opportunities.
Doing mostly research and anticipating the end of a long week.
Most importantly, Ollie the doxie (I was at vet two more times in the last 24 hours) is mending and the family health issue has passed.
Position: Long PG (S), PEP (VS), KO (S)
Pepsi Move
I moved to very small on PepsiCo ($PEP) after the run of the last few days.
I am a buyer at $138 or lower.
Position: Long PEP (VS)
Downsized My Pepsi Long
I have reduced my $PEP position from medium-sized to small-sized after the nice run of the last week or so.
I plan to be a buyer on weakness.
Position: Long PEP (S)
The Semis Did What They Were Supposed To. While Bonds Did Not.
On a weak day in the market, the semis rally while the others dive.
Boost of PEP
Adding to PEP ($PEP) at $138.03.
Positions: Long PEP M
Still Drinking
I continue to add to ($PEP) ($137.02).
Positions: Long PEP (M)
Things I Did Today
Here are today’s things:
* Shorted more ($SPY) $774.32 and ($QQQ) $725.26
* New position: short Berkshire ($BRK.B) $532.63
* Added to ($MSOS) at $4.33
* Shorted more ($GRNY) $27.91
* Added to ($PEP) long at $137.84
* Shorted more ($JOET) $46.78
Positions: Long MSOS (VVL), PEP (S/M); Short SPY (M), QQQ (S), GRNY (M), JOET (S), BRK (VS).
Pepsi and Cannabis
I added to PepsiCo ($PEP) and across-the-board in individual cannabis names.
Position: Long PEP (M), Cannabis
Adding to Pepsi Long
I’m adding to PepsiCo ($PEP) at $139.81.
Position: Long PEP (S)