Throughout the day, I made a variety of changes. I significantly pared back my short positions in [[LEH]] and [[DECK]], while bulking up on [[REW]], [[SMN]], [[SRS]] and [[DUG]]. Also, it’s worth noting, I sold a few thousand shares, very quietly, of [[SKF]]—near the highs of the day.
Chinese related stocks sprinted higher, as did select retail— like [[M]], [[GME]] and [[ZUMZ]].
For the most part, “The Fly” is extremely bearish on the markets, but will take his time averaging into selective inverse ETF’s. The key to building a winning position, is to avoid going “all in” at once. Instead, buy or sell in 10% increments. Meaning: if you are interested in buying 100k worth of SRS, buy 10k at a time.
Trust me, it will give you peace of mind and allow you to manage your bullshit trading accounts like a pro.
Early next week, I expect the financials will remain steady, with tech leading the way down. Short term, I will be focusing my efforts on “hitting” big tech, while trying my best to “machine gun” commercial real estate stocks, via buying SRS.
Finally, it’s worth noting, good ol’ [[HANS]] spiked today. While I’m a big fan of their products, I do believe their recent price hikes (per case) is related to higher transportation and raw material costs. I could be wrong; but I’d avoid buying the stock above $40.Comments »