Spring vibes are in full effect up here in the murder mitten today, with birds chirping and an electric green hue taking hold on the ground and trees. Otherwise the local scene is rather grimy.
We have a governor mandated shelter-in-place, which quite honestly has only modestly changed my professional and personal routines. The hustle has always been a remote endeavor for humble Raul. Last week I traded well up until Friday afternoon, when I stuck around later than I normally do and gave back my morning gains. Normally, on a nice Friday in spring, I’d take my morning gains and head down into the city to cavort with the day drinkers, saving me money and allowing me to spread my brand of propaganda locally.
These skype chat happy hours and zoom meetings might need to replace my old routines.
This virus changes everything. I doubt I’ll ever go to a rave or unsanctioned after hours event again without wearing safety glasses and a mask. The human condition is worsening, pestilent and viral.
After preparing the Sunday research and publishing the Exodus Strategy Session, I have mixed signals. There is plenty of reason we could see continuation to the upside, but then Utilities led the charge last week and IndexModel is flagging Rose Colored Sunglasses. Therefore I am only allowed to short sell the NASDAQ all week. I will be doing so on a limited basis. Ideally an up gap inside the prior day’s range for me to fade. I will not be pressing trades late into the day unless we really accelerate to the downside again.
That’s about it. I am looking to buy more Microsoft and Google and swap out my Goldman position for Square. Ideally I buy into big down days, when things appear their worst. But who knows, I may have to chase the great ones.
My oil positions don’t feel good, WES and PTR, but I never expected them to. I shall stick with them for quite a while.
On Wednesday morning my quant strategy rebalances, hopefully I have time to share my latest thoughts on that project here.
That’s all for now. Trade’em well.
Raul Santos, March 29th, 2020
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