Nothing to do right here, wait for it. Investing is as much a waiting game as a trading game. There is nothing compelling at the moment, but I am waiting for one last push higher in the S&P, which should help to set up a better entry point for a crude oil short. Unfortunately, crude oil has been so weak that it hasn't given me the chance to short at a high enough price where I can feel comfortable holding the short long term. I'd like to see $51, but don't know if it can go there before the big drop. And I think the big drop is imminent, it could happen any day here.
The S&P looks quite tired, but I am not a big fan of trying to short these slow uptrends waiting for it to topple over, usually it takes longer than I initially expect. I am short Treasuries, and will remain short for a few more days.
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7 comments:
TSLA looks like the obsession is slowly starting to fade. Their popular selling S model is 2 years old already with no new models.
Broke 200 I wonder if it can get to 180
TSLA is toast. It was a momo wonder, the growth is just not there if they don't lower their car prices, and they still wouldn't justify the valuation. Electric cars are useless when you have cheap gas.
Actually gas is now over 3 a gallon. It was around 2.25. Not that cheap in my opinion anymore. I just don't see people buying Teslas like they used to in 2013 and 2014.
NASDAQ now around 100 points away from its all time high
All the more reason to short TSLA and WTI crude oil. You won't get much incremental demand if gas is over 3.
Long ESV @ 23.26
Ol Dawg
Interest rate trade is working out beautifully. Dont lose those gains!
Sticking with the plan, target for the cover is either Wednesday morning or 2.13% 10 year, whichever comes first.
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