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The big event this afternoon is going to be Intel. It was only a year ago that Intel was a pathetic, failing piece of dog crap. In the midst of the most laughable bull market in history, it has lost two-thirds of its value and was considered irrelevant.
Over the past month or so, I’ve had a lousy time trading Bitcoin. A few days ago, I decided I had enough, and I figured I wouldn’t touch the scam for a while.
I choose my options positions carefully. I tend to buy puts against stocks that are nominally high-priced, have decent bid/ask spreads on the options, and have clear resistance levels. Therefore, on top of my existing five positions (COST, CVNA, FXI, LEN, SMH) I have bought January in-the-money puts on CAT and UNH:
I was so bummed yesterday evening. I had increased my short exposure substantially late in the day, and in spite of TSLA and GOOGL falling after hours, the semi/memory space that I was so short didn’t care. In fact, semi/memory was quite strong, as illustrated by what was going on with SMH. I was pissed off: how could a giant like GOOGL get whacked and other tech stuff still celebrate?
