2 Last Tuesday I sold 100% of the TNA shares I had bought in May. Today I bought back a little of those TNA shares. I will buy more on $RUT weakness. More $RUT weakness would welcome as it will put me further into the black on my TVIX, UVXY and TZA holdings which I am inclined to liquidate in light of the $20B = 1% thesis. More $RUT weakness would also allow me to average down into more TNA.
PositiveTrendCapitalStrategies
PositiveTrendCapitalStrategies
Previous Posts by bobbyboucher
2 Responses to “Bought Back Some TNA”
razorsedge
bot tna when the housing no# came out, that lasted about 5min sold loss just the cost of the trade, i decided then what the fuck was i thinkin, im waiting till europe does something. or 3 days from now. i like mos and pot. as part of a corn play. but i can wait to win/lose another day .
Bobby Boucher
I, too, noted the market went down today on good news (new home sales and Dallas mfg survey both beating consensus with each report being good for about a 5 minute pop to the upside). Anecdotally that means the bottom is still a ways down.
So far in the month of June we’ve had 30 economic reports for which Econoday developed a consensus number. A very impressive 21 / 70% of those reports have fallen short of the consensus. The bad news is likely to continue. Either the economic reports will start to get better and the market will follow or the reports will continue to suck but the market will start going up on bad news. I think the latter is more likely and concede it is far safer to wait to get long. Waiting, as I have found many times, leads to waiting too long and missing the move. That’s why I have transitioned totally to scale-in campaigns.