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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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...