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I mentioned on my show yesterday that I had scaled back on my TLT puts, wanting to scale back in at better prices. I also sold my entire TBT position at a nice profit. Well, good call on both of those choices, as bonds are rallying today. I am waiting for this gap close, at which time I will COMPLETELY PIG OUT on bond shorts.
Nice to see a solid red screen for a change. I figured yesterday would be the high-water mark for U.S./China feel-good relations. Give it a week. They’ll be slamming each other again.
Anyhoo, I shorted a bunch of high-fliers yesterday, and I augmented it today with SMH, which has a clear gap. My stop-loss price? Simple: Five Six Seven point Eight.
I’ve made mention plenty of times of my bearishness on Bitcoin. The push higher over the past twenty-four hours hasn’t been heartening, and I ditched my MSTR short and half my BITI long (the bearish fund) as a result. Here’s the minute bar of the /BTC futures.
Earlier today, I purchased September $120 puts on Coreweave (CRWV). They’re up 7.2% so far, and they’ve got 147 days until expiration.
Wow. Red quotes. Haven’t seen those in a while.
Anyway, the emerging markets fund EEM looks like another beautiful gap play. I just added this as my 21st position with a stop-loss at 63.40:
