Early Morning Trading (7:05 a.m.)
Adding to Index shorts:
* SPY ($SPY) $774.88
* QQQ ($QQQ) $724.25
Positions: Short SPY M QQQ S
Things I Did Today
Here are today’s things:
* Shorted more ($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) $46.78
Positions: Long MSOS (VVL), PEP (S/M); Short SPY (M), QQQ (S), GRNY (M), JOET (S), BRK (VS).
Adding to Index Shorts
On the rally I added to my index shorts:
* ($SPY) $774.16
* ($QQQ) $724.22
Positions: Short SPY M QQQ S
Index Short Additions on S&P Short Range Oscillator Move
The S&P Short Range Oscillator moved into a further overbought at 3.41% vs. 2.93%.
I added to my Index shorts this morning (5:05 a.m.):
* SPY ($SPY) $774.51
* QQQ ($QQQ) $726.41
Positions: Short SPY M QQQ S
If the Equal Weight S&P Is So Strong, Why Isn’t Breadth Rallying?
Let’s dive in and look at the equal-weight S&P and try to understand why breadth isn’t stronger.
Short Adds
Added to SPY ($SPY) $771.26 and QQQ ($QQQ) $718.65 short just now.
Positions: Short SPY M QQQ S
Added to SPY Short
I added to SPY ($SPY) short at $770.40
Positions: Short SPY M
Things I Did Today
Here are today’s things:
* Shorted $SPY at $774.24 and $QQQ at $724.26
* Added to $MSOS at $4.11, $GTBIF at $6.80, $VRNO at $5.20
Position: Long MSOS (VVL), GTBIF (S), VRNO (S); Short SPY (M), QQQ (S)
Bulls Got a Green Light, But Here’s Why They Shouldn’t Floor It
We have a technical follow-through day, however, disciplined buying is paramount.
Surge of FOMO Takes Hold as AI Trade Comes Back to Life
Poor positioning and FOMO are driving this more than lower oil and rates.