Good morning, everyone, and welcome to the shortened week. I’m pleased to see every single stock future is red, with pre-opening drops of a bit more than 1%. This is the kind of market I love. I never want a crash. Just drop 1% every day until the end of time, and I’m a happy fella. We’ve already taken out the lows of the prior week.
This is being aided by the strength of the US dollar.
My two big areas of concentration in my 20 position portfolio are (1) energy (2) Chinese internet stocks. The latter is particularly encouraging this morning. Of my positions in this space – BABA, BIDU, and JD, they are all down, but JD is down the best, about 8%. It also happens to be my largest position, whose options are up 39.13% as of Friday’s close and are bound to be even better today.
As a recap, I’m in 20 bearish positions, all of them by way of long puts, and none of them expire sooner than 115 days from now, with an average DTE of 147. I have virtually no buying power left, so hopefully I’ll just be able to lean back and keep an eye on them.
