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Yoga balls, that is.
I wrote a post a few days ago where I discussed the major breakdown that $LULU saw on Monday. Rather than immediately short it, I gave the stock some time to fill the gap. Today, I see the stock has retraced back to the original breakdown point, as well as to the 200 day moving average on declining volume.
I decided to go short a 3/4 position. Upon any reversal to the downside, I will quickly fill it up.
All trades are timestamped inside The PPT.
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TOTAL PORTFOLIO:
EQUITIES: 56%
- LONG: 50% ($CTRP $CTXS $CMG $NTCT $RBCN $MELI $HMIN $RDWR)
- SHORT: 6% ($LULU)
CASH: 44%
Chess you really always having the best images and titles. A joy to read your blog. Thanks.
Thanks, hubbs.
Chess, does the huge short position (24% float) bother you in terms of increased risk from a possible short squeeze?
True, but that is why I waited until it got back to $35, as opposed to shorting it at $31.
Congrats on KoPG.
Understood. Thanks for the kind words.
More balls than me. I’m back to 79% cash 21% precious metals.
It should be interesting to see how your short works.
Good luck and thanks for the great blogging!!!
Agree – one of the best short setups right now. Great look
Looks like you’ve got some serious blue balls there. I like the short play, bold, indeed. Good day…
Chess,
I’ve been wondering how you size your positions for a while.
Can I infer from this post that a full position for you is 8% of your portfolio? Or do you size differently?
Keep up the good blogging.
mC
Yup, 8% is almost always a full position for me. If I deviate from that, I will let you guys know.
Thanks.