Well, this is just where I want to be. It’s Monday. We’ve got a full week, which means we don’t have to close the market for the Floyd Celebration Festival or something like that. The new server appears to be humming along. And the market is so insanely high, I’m like a kid in a candy store.
The /NQ reached record highs this morning (of course) but appears to be getting a bit raspy at these levels.
Tesla has blown to yet ANOTHER Fibonacci level. I’ve taken on a small bearish position just because, well, c’mon, this is bonkers.
My main interest now is in the semiconductor space. Take a look at SMH, against which I bought puts on Friday. We are far from lifetime highs, and for whatever reason (I’m thinking a combination of China tensions and tariffs) semiconductors aren’t the darling they used to be.
A specific semi against which I bought puts last week is Intel (INTC) which seems to have stalled out quite nicely, thank you very muc.
And, although I have no position, it’s good to see Arm Holdings (ARM) slip-sliding away, too.
A couple of side notes while I have your attention: first, I got rid of my OXY and SLB puts, because with crude oil down 3%, these suckers were going up, and I just can’t tolerate that. If energy stocks can go up with crude getting nuked, forget about it. Second, my portfolio’s timeline has been pushed out, since I want LOTS of time on these suckers until expiration. Thus, the most proximal put I’ve got is a March expiration. I’ve out of any January positions now!
