Large uptick today.

Record highs have been reached on the strength of better than expected earnings across the market.
I am however cautious and am looking at where to place bear positions when this uptick finally ends.
I am considering to short UBER and I still look at Macy’s for potential reward from their inflated price points.

3 moves this morning.

Sold all STI, locking in a modest gain.

Sold 289 @ 70.45= 20360
- 289 @ 69.45= 20,071
Gain $ 289

Added position to COST
Waiting for Costco to get a charge although it was flat this morning while other observed assets jumped.

300 @ 296.36
New totals and average =
700 shares at 296.14

Bought very tiny position in XNET
100 @ 5.94

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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