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Well, after losing money year after year after year after year, Amazon has perhaps finally worn out its welcome. I am gleefully – cheerfully – both short the stock AND long the puts, so I’ve already decided Friday is going to be a cool day. What’s particularly nice is that the stock is doing poorly in this completely retarded, helium-filled environment, so if – God forbid – the general market started to soften, Amazon could easily lose half its value. Easily.
On Saturday, I did my “Saturday Sooners” post, which – at the top of the list – included BancorpSouth as a short pick. Here we are on Tuesday morning, and plunge-a-roony. It’s a great example of a head and shoulders pattern in action.
Today was interesting, to say the least, and for wholly unexpected reasons. I loudly touted RSX (the Russian stock ETF) earlier this week on TastyTrade as the most compelling country ETF to short; little did I know it would crater today. More broadly interesting, of course, is what happened with the ES.
When I woke up this morning, I was pleased to see the ES down about 7 points. At the magenta tint, I figured the day would be all about “managing winners”. The market opened, and my portfolio sported a handsome profit. (more…)
It seems that any company with the word “Liquidity” in some form is in a dangerous spot these days. Lumber Liquidators, of course, was a blowout wonderful short, and now, my honey of the day, Liquidity Services (which I’ve mentioned multiple times on my Tastytrade show)……….
Back on May 4th, I offered up a post with ten short ideas, one of which was Lumber Liquidators; at the time, the chart looked like this:
