On this most oddly timed first trading day of the year we are dealing with the natural effects of index selling, natural gas short squeezing, and market of stocks shenanigans.
It is a welcome respite to see a few stocks taking to the shorts despite the broad market weakness. To be quite honest, I much prefer a down dog Nasdaq with little momo pockets. That essentially means more ways to turn a trick in the tricky market.
If you have traded intraday then you know short selling pays quicker. My goal when leveraged to the neck is to minimize the duration of exposure as much as possible, thus, shorting is more conducive to this strategy.
Then I enlist the help of the world’s best stock finders to pick off a few momo bangers. Paradise.
I did not stop out my UGAZ at the end of the year. The position is small, a ¼ piece, due to the nature of the beast. Today put the position down only 12% compared to over 20% Wednesday. Now I am interested, to see if that was an escape hatch move today or the start of something more zesty, more 2015.
There was this list of people I don’t trust who all said to avoid telecoms in 2015. Naturally I started building in S, now, oddly enough, my largest position. I would like to reduce its size at my initial entry point, a bit higher, after doubling down in the trenches.
I have a play for GPRO and it is working. This is a fancy bit of stock god blessing on a bloody day. Other winners are VA, and TWTR.
On the losing end, I bet that BABA would go up this week which it most certainly did not. RIP BABA weekly calls.
BAC Jan calls are no longer in vogue and have flipped to red. This is a long duration trade and I now suspect I may be short a few weeks of exposure. The nature of short term options is feisty and bipolar.
There is much work to do this afternoon and over the weekend. Today you can right your ship. The profile is b-shaped and I suspect bears won’t have such a pleasant ride come Mutual.Fund.Monday.
Sleep on that dearie.
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