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What a change we’ve seen in the past couple of weeks. I’ve gone from hoping I can make it through the day to instead wishing I was even more short than I already was. Plus, I’ve changed from worrying what the hell I could possibly write about to having so many ideas that I can hardly sleep. It was a sudden shift.
Speaking of which, on the heels of its earnings, Alphabet went from spiking to puking.
Like the Psychopath-in-Chief said, I’m getting tired of winning………here are a dozen of my favorite short positions right now:
It feels like we haven’t had two back-to-back down days in the market for ages, but we might just get one today. Let’s first take a look at overall momentum.
The /ES, shown below, blasted off like a SpaceX rocket after Liberation Day (first arrow), then its ascent began to mellow (second arrow) and, most recently, seems to have mellowed into a virtual flatline. The failure of the most recent trendline is also an important tell that things are weakening in equity-land.
Palantir will announce earnings after the close. I decided earlier today to take my substantial profits from my PLTR short, mainly because it’s been beaten down to the lower portion of a wide range. Don’t get me wrong; I’d love to see Krazy-haired Karp get blown to smithereens after the close, but the risk/reward doesn’t work for me anymore.
As I stated earlier, today turned out to be really terrific, in stark contrast to my expectations. After the close on Thursday, I was also relieved to see that Apple’s huge price pop was completely zeroed out, and now it’s just flopping around. I guess maybe people have stopped upgrading their iPhones every week.
