My natural alarm clock (AKA my brain) fails to wake me up for the market perhaps twice every year, and this morning was one of those times. As one might guess, puppy duties were the cause, which is pretty much the best reason one can imagine, but nonetheless, I was surprised to see the clock read 6:36 a.m. when my eyes popped open.
No harm came of it, however. Of my 25 short positions, 20 of them are down, and the 5 that aren’t are up an average of half a percent, so, meh, I’m fine.
More broadly speaking, the /RTY futures are still sporting a pitch-perfect reversal away from their Fibonacci retracement level and, I would hasten to mention, Bear Force One launches just after the close on Thursday. It’s a BIG trip, too, so if the market plunges on Friday, you know precisely who gets the credit.
I’m equally excited about the massive right triangle pattern in crude oil. They seriously do NOT come better than this. This pattern spans nearly half a decade (!!!) and implies much lower oil prices for years to come.
This is one of the reasons why I have energy shorts like Conoco (COP).
Now that the U.S. has declared a complete surrender (pretending it’s a victory) in the trade wars, I’m also tiptoeing into more aggressive shorts, such as white-hot stocks like Hims & Hers (HIMS).
I am also short better-known names like Hilton (HLT) whose recent explosive price moves portend serious vulnerability in the near future.
We are, in my estimation, in a true stock-picker’s market for short sales, so I’m loaded up with 20 individual stocks and 5 ETFs, the largest position of which is IWM.
Here is my present list of positions (with one small correction: I got stopped out, at a very handsome profit, of RH early today at a price of $207).
I’ve got plenty of buying power left, so once I update my stops, I’ll be on the prowl for more ideas.
