27Mar2:17 pmEST

Update on My Positions

After previously scaling gains on them this week, I remain long FAZ ($11.97 entry) X ($24.24 entry0 and UVXY ($15.53, $15.83 entries). I added back to UVXY yesterday and, even though it is slightly lower today, I have not seen enough to push me out of the long volatility ETF. 

As for FAZ, I am pleased to see the triple-short financial sector ETF in the green today, even as the broad market tries bounce. To my eye, financials are not yet oversold to the point where I would sell the final piece of the position. 

I am still long JO and down on the position from my $25.02 entry. If I cut it, it will be a final hour decision today depending on the action into the weekend. 


My open shorts are: CP and GILD. 

I remain short Canadian Pacific, CP, from $184.49 with modest profit cushion on the trade. 

My GILD short is from $100.46, and the position is slightly against me at the moment but the short thesis is intact. 

As for new positions, shorting crude, energy stocks, and/or Russia is still enticing to me, while the GDX gold miners are reversing up to green as I speak. 

A Focused Intraday Look Not Assuming Anything; Chess...

 
BackToTop
 

This website is intended for educational purposes only. | © 2024 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site