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I’ve maintained a steady interest in energy issues, and I’ve been noticing with increasing delight that energy stocks are acting weaker than oil. On days that oil is strong, energy stocks are either “meh” or, in some cases, down. On days that oil is weak, energy stocks are really weak. You can see the increasing spread here:
Nearly four months ago, I did a post called Short Now And Profit, which boils down to the acronym – surprise! – of SNAP. I’ve been pissing on this IPO ever since it came out, and now it’s gone sub-teen, approaching losses of 60%.
As a public service, I will remind my readers that Evan Spiegel is understandably not concerned about the unwashed masses getting wiped out by their bag-holding ways, as his mind is focused on his lovely bride and all the fun they can have together – – so forgive him.
I just wanted one parting shot about our success with auto retail stocks – – it seems to me that, for now, this play is over and done with. The measured moved – – – ambitious at the time, but reality now – – has played out beautifully. How I envy those who had puts on this monster!
So how many times have I touted auto-related retail stocks on the short side here on Slope or on Tastytrade? A hundred? A thousand? Suffice it to say……..a lot. Here we go…….
Triple-bearish-on-energy symbol DRIP is the gift that keeps on giving (in addition to ERY). Trade of the year!
