Sizing Up to … Small on Index Shorts
I have moved from very small to small-sized short the indexes:
* SPY ($SPY) $755.12
* QQQ ($QQQ) $723.12
I plan to scale on any more strength.
Positions: Short SPY S QQQ S
Early Morning Trading (5 AM)
I am back shorting the indices:
* $SPY $753.78
* $QQQ $723.52
Position: Short SPY (VS), QQQ (VS)
Things I Did Today
Here are today’s things:
* Shorted the indices: $SPY at $752.83 and $QQQ at $722.13
* Covered my index shorts for a profit: SPY at $749.63 and QQQ at $717.82
* Shorted $GRNY at $27.86 and $JOET at $45.83
* Shorted $JPM at $338.50 and covered it at $327.31
* Reshorted $JPM at $343.78
* Shorted $MS at $230.43
* Added to $MSOS at $4.65, $MSOX at $2.73, $TRLV at $8.85 and $VRND at $6.08
Position: Long MSOS (VL), MSOX (S), TRLV (S), VRND (S); Short GRNY (M), JOET (S), JPM (S), MS (S)
My Comment of the Day: Shorting Indexes Again
Dougie Kass
just now
Back shorting the Indices on the better inflation print (but oil is rising again) – its rear view mirror:
SPY $752.83
QQQ $722.13
Positions: Short ($SPY) VS ($QQQ) VS
Going Small on SPY, QQQ
Moved to small-sized index shorts:
* SPY ($SPY) $753.10
* QQQ ($QQQ) $723.35
Positions: Short SPY S QQQ S
Morning (Short) Additions
Added to following shorts:
* SPY ($SPY) $752.76
* QQQ ($QQQ) $722.46
* GRNY ($GRNY) $27.86
Positions: Short SPY VS QQQ VS GRNY M
Things I Did Yesterday
Here were yesterday’s things:
* New short position — Bloom Energy ($BE) at $265.39
* New option position — Bought Nvidia ($NVDA) puts
* Reshorted $SPY at $748.88 and $QQQ at $722.58
* Shorted $GRNY at $27.81
* Shorted $JOET at $45.97
* Reshorted Morgan Stanley ($MS) at $223.61
* Supersized long $MSOS at $4.46
Position: Long MSOS (VL), NVDA puts; Short SPY (VS), QQQ (VS), MS (S), GRNY (M), JOET (S), BE (S)
SPY, QQQ Shorts
Back shorting the indexes after the two day rally:
* SPY ($SPY) $748.64
* QQQ ($QQQ) $722.34
Positions: Short SPY VS QQQ VS
Not Broadening Out
Despite pleas of broadening out, the equity market is teetering on a disbroadening.
Here were yesterday’s stats:
* $SPY -0.29%
* $QQQ +0.27%
* $IWM -0.89%
* $RSP -1.22%
To me, key to the broadening-out thesis would be continued strength in financials, which was nowhere to be found:
* $JPM -$8
* $C – $3
* $KRE challenging (to the downside) some important support.
Position: Short JPM (S), C (S)
Sold SPY, QQQ
S&P futures are now -40 handles (an improvement of +30 handles) and I have sold my trading long rentals for a quick and profitable trade:
* SPY ($SPY) $743.47
* QQQ ($QQQ) $704.23
From earlier:
Index Trading Long Rentals (720AM)
* SPY $740.96
* QQQ $700.16
Positions: None