Friday, October 28, 2016

Oct 27 - Lightening up on equities

I voluntarily sold WFC today which was my biggest position and involuntarily sold TDC.  I added a small WFC short and SPY short at close.  I am still bullish on WFC but think it needs a breather/ consolidation.

TSLA/ BIDU earnings turned out to more or less non events.

I don't like how soggy the indexes have looked and looks like that may drag into the election.  I'm not totally sure but market isn't moving like I thought it would.  The China stocks/ IPO's getting wobbly was a warning sign which was one reason I dumped my YRD a couple days ago.

Right now sitting on BIDU, TSLA, BIIB, HMSY, and deep ITM Dec VXX puts.

Looking for a pullback to one of the two levels and perhaps after the election a big ramp up to the 48-50 range.

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