Stocks are strong right out the rip this morning, with the S&P tide pushing all these jet boats (momo stocks) higher.
In the futures, I’ve traded four contracts, all to the long side, earning 1.5 handles, 3 handles, 1.5 handles, and a runner. UPDATE: Closed the runner, 3.25 handles.
I kicked out SAM after initially thinking I would make it an investment. I don’t want to be invested in SAM. I like Pabst if I’m going low end, New Castle if I’m being normal, BUD for sports drink, and anything brewed at the micro capacity from Michigan all the time. So why own SAM?
I sold LOCK too because it had a chance to be great and it decided going sideways was cool. What a wimpy stock.
The solar trade is complete madness. I love it. These ‘late stage” conditions give a huge edge to the small trader who can ferret in and out of the crazy names. My wild boy is Scotty. SCTY is the proverbial stone that kills two birds, giving me a piece of Elon’s sweet ass and solar exposure. With that in mind, I’ve taken two scales, and am down to a runner on SCTY. You guys are crazy so I want to see how far your crazy gets me.
Don’t sleep on JRCC, it’s way out of balance after we learned Friday that they bought a little more time in their debt structure. I want to see the imbalance push higher, obviously.
New longs are YELP, and CRZO and cash is low low low, 25 percent.