The S&P Short Range Oscillator remains oversold at -4.32% vs. -4.85%.
At 5:13 AM I covered all my index (common) shorts given the -60 handle drop in S&P futures and -550 decline in Nasdaq futures:
* $SPY $758.25 (-$6)
* $QQQ $701.76 (-$13)
I remain net short SPY — through short SPY calls and short SPY puts.
Position: Short SPY calls (M) and puts (S)
Here are today’s things:
* Shorted indices:
$SPY $765.03
$QQQ $716.23
* Added to short SPY calls (October monthlies)
* Added to $GLD at $398.84
* Added to $MSOS common at $4.85.
Position: Long MSOS common (VL), calls (S), GLD (S); Short SPY common (VS), calls (M), puts (S), QQQ common (VS)
With S&P cash +72 handles I am adding to my short $SPY calls (October monthlies).
I am also reshorting the indices:
* SPY $764.81
* $QQQ $716.11
Position: Short SPY common (VS), calls (S), puts (S), QQQ common (VS)
The upcoming CPI will either relieve the market pressure or confirm it.
The aerospace firm was among the few AI-related names that carried the day.
A close not too far from the highs is a good sign, but it is just the first step in a recovery.
With S&P cash -48 handles I am covering my index shorts:
* $SPY $762.33
* $QQQ $707.31
I plan to reshort strength.
Position: None
Here are Monday’s things:
* I reshorted the indices after the market closed last night — $SPY at $767.32 and $QQQ at $717.13.
* I added to my $MSOS common at $4.94 and call long positions (slightly out of the money for September and October).
* I added to $VRNO at $6.12.
* I initiated a very small $GLD long at $405.42 (which I added to overnight at $401.28).
* I added to my $CRM short at $260.24.
* I reshorted the private equity space — $APO at $137.61, $BX at $142.94 and $KKR at $110.63.
* I reshorted $CRWV at $85.02.
* I reshorted $JPM at $356.14.
Long MSOS common VL calls S VRNO S GLD VS
Position: Short SPY (S), QQQ (S), CRM (S), CRWV (VS), APO (VS), BX (VS), KKR (VS), JPM (S)
