China fears again.

Looks like another doubtful day has begun with the ever elusive “deal” with China seeming like less of a reality with every day that passes. Decided to make a tough decision and consolidate most assets into Walmart as DLTR was bleeding bad and Target suffered from an analyst report yesterday that speculates they are losing market share to Amazon. On the good news front, Walmart reports earning tomorrow before opening bell.

So the moves today are as follows..

TGT. -1000 @ 107.18
DLTR. -800 @ 106.75
WMT +900 @ 119.45, total is now 2200 @ 119.56
BABA + 275 @ 184.86

Comments

Markit Services BMI

Under 50 for first time since 2017 has hit the market hard today. https://www.markiteconomics.com/Public/Home/PressRelease/2ea84928c5d74262bbe387ec2b19d337

Be Beary Weary about Apple.

Scouting shows that earnings at Apple might drop the most since 2001. There’s a lot of volume with downward motion today... and it is my opinion that it will continue its decline. Short Position added: AAPL 400*246.13= -98,452 Mistake closed : XNET bought 1000 @ 5.86 = $5,860 XNET SOLD 1000 @ 4.85 = $4,850 Loss = $ 1,010 *lesson * don’t buy at the top, this was a possible pump and dump..at least we got out quick.

Added position to BABA

Looks like a bargain to me , BABA has floored this morning in pre-morning trading in the 169’s. Waited until 170 to confirm trend reversal and added 600 shares @ 170 prior to market open. Later morning news from Vertical Group confirms agreement in trend direction . Recommend holding until at least 180, which seems to be an important resistance point at this time.

Financial Cosmonaut

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