Market Short Positions Update
Updating our short positions & repurchase attempts from October 29th.
We now hold 3 positions in VXX, 3 in TZA and 1 in QID.
We had one position in TNA, sold earlier this morning for a gain of 19% in 9 days.
Posted October 29: "We expect markets to bounce for 1-3 weeks before the next major leg down."
Major indexes posted a low that day, and the bounce is midway through the 1-3 weeks and likely near or already at its apex with respect to points.
The DJIA has rallied 2055 points since its October 29 low, or 8.5%
Our buy or sell orders are as follows...
Repurchased:
QID (1st position) repurchased at $41.30 - originally sold for a gain of 25% in two months.
VXX (3rd position) repurchased at $33.50 - sold previously for a 20% gain in 4 months. We also scored a gain of 100% on this 3rd VXX position in one month earlier this year.
Buy Limits:
QID (2nd position) buy at $37.90 - sold last month for a 13% gain in two days.
VXX (4th position) buy at $31.00 - sold last month for a gain of 22% in a month.
VXX (5th position) buy at $29.50 - sold last month for a gain of 17% in two weeks.
TZA (4th position) buy at $9.75 - sold last month for a gain of 22% in a month.
TZA (5th position) buy at $9.40 - sold last month for a gain of 47% in in two months.
Equities overall are now moderately overbought on a short term basis while remaining massively overbought, overvalued and overbelieved in the intermediate and longer term.
We now hold 3 positions in VXX, 3 in TZA and 1 in QID.
We had one position in TNA, sold earlier this morning for a gain of 19% in 9 days.
Posted October 29: "We expect markets to bounce for 1-3 weeks before the next major leg down."
Major indexes posted a low that day, and the bounce is midway through the 1-3 weeks and likely near or already at its apex with respect to points.
The DJIA has rallied 2055 points since its October 29 low, or 8.5%
Our buy or sell orders are as follows...
Repurchased:
QID (1st position) repurchased at $41.30 - originally sold for a gain of 25% in two months.
VXX (3rd position) repurchased at $33.50 - sold previously for a 20% gain in 4 months. We also scored a gain of 100% on this 3rd VXX position in one month earlier this year.
Buy Limits:
QID (2nd position) buy at $37.90 - sold last month for a 13% gain in two days.
VXX (4th position) buy at $31.00 - sold last month for a gain of 22% in a month.
VXX (5th position) buy at $29.50 - sold last month for a gain of 17% in two weeks.
TZA (4th position) buy at $9.75 - sold last month for a gain of 22% in a month.
TZA (5th position) buy at $9.40 - sold last month for a gain of 47% in in two months.
Equities overall are now moderately overbought on a short term basis while remaining massively overbought, overvalued and overbelieved in the intermediate and longer term.
posted by C. Guinness @ 4:57 PM
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