It’s another fine day in Slope-land. I’m up 2.5% (completely short portfolio……….duh) while the QQQ is down 0.01%. So, yeah, I’m beating it.
Of aid here is retail:
My infatuation with retail shorts is aided greatly by the collapse in auto retailers. Here, for instance, is my first post about shorting O’Reilly. It has fallen 35% in the half-year since that post. Of course, in typical Sloper fashion, instead of thanking me effusively for a great idea offering for free, I get this………
Although the market in general has been steadily making never-before-seen highs this year, I have been doing pretty well with my nothing-but-shorts trading. A few sectors of special concentration for me have been energy, financials, and retail.
This last one in particular did nicely for me today, as a variety of shorts were smashed by Macy’s. Looking at the big ETF retail fund below, you can see the topping pattern is still forming, although there is a pattern-within-a-pattern tinted in green that’s very close to failing.