Who Wants to Believe in Iran Talks? (The Markets Do); Big Earnings; Yen Plan
Let’s look at how Trump holds off big attack on Iran and the markets look optimistic, a joint plan for the yen, and earnings on tap for this week.
The Market Is Still ‘Abby’ Normal
“Igor may I speak to you for a moment?”
– Young Frankenstein Abby normal scene
SanDisk ($SNDK) – $165 from day’s highs.
Would you mind telling me whose brain you put in?
Positions: None
Microsoft Sparks a Rally, Trump Promises Peace, Truth About Traders
Let’s find out if the relief rally can last, whether we can believe fighting will stop in Gaza … and … what I know about that footage of traders on the news.
Things I Did Today
Here are today’s things:
* I sold out the following longs:
($AMZN) $236.89
($GOOGL) $330.07
($MSFT) $450.31
($SNDK) $1156
* Added to ($MSOS) $4.04, ($TRLV) $8.02 and ($GTBIF) $6.92
Positions: Long MSOS VVL TRLV S GTBIF S
Out of Tech Longs
I am out of longs in SNDK ($SNDK), AMZN ($AMZN), GOOGL ($GOOGL) and MSFT ($MSFT).
Positions: None.
Out of SanDisk
I sold out my trading long rental of SanDisk ($SNDK) for a small profit (I had averaged down, as posted) at $1155.07.
Positions: None.
Adding to SanDisk
I added to trading long rental ($SNDK) at $1,054.
Positions: Long SNDK (S)
My Bet on Interest Rates
If I had to make a wager, I would bet the Federal Reserve announces no change in interest rates.
If correct, I would expect a short-covering rally — but I don’t know how durable it may be (if it occurs).
I have a light exposure profile (basically long cannabis), with a small long position in ($SNDK) my only “play” for a rally.
Positions: Long SNDK (S).
Things I Did Today
Here are today’s things:
* Added to TRLV ($TRLV) $8.05 and GTBIF ($GTBIF) $6.82
* Added to trading long rental SNDK ($SNDK) at $1,051
Positions: Long SNDK S TRLV S GTBIF S
More SanDisk
I added to my trading long rental of SNDK ($SNDK) at $1,032.43.
Positions: Long SNDK S