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I have a nearly 30% profit on my Bloom Energy (BE) short, and I’ve covered it. They are going to report tonight, and as is so often the case, I may scream into my pillow for covering too soon, but I’d rather take my profits at this rather severely sold-off state.
In my last post on Thursday I was looking at the solitary break back over the daily middle band on SPX and considering the possibility that SPX might go higher. SPX then broke back below the daily middle band again.
I was also looking at the strong rally on the Philadelphia Semiconductor Index (SOX) and looking at the very binary setup there where it is likely either to head down to the fixed H&S target in the 9,150 area or, on a break back over the right shoulder high at 13,249.07, to reject back up to a retest of the all time high.
(more…)On Friday, I did something I never thought I’d do in my life, which is go long Seagate (STX) puts.
This is loony because the stock was almost $1,000 and the options were incredibly expensive. I gave it a whirl, though (red arrow) and was pleased to close Friday with a small profit on them. I was even happier yesterday, Monday, when STX took a tumble, so I sold the position (green arrow) and patted myself firmly on the back for being such a clever lad.
Interesting morning!
So here we have the /ES, which was dipping nicely last night but has shaken off its woes and, as of this composition, is up a little bit, just below resistance.
Like any good libtard, I enjoy watching John Oliver every Sunday evening. His piece last night was especially good, particularly the bits where the Trump boys explain how they dreamed up the names for their organizations.
