Buying JNUG, Bidding NUGT, TZA, VXXB, and Tesla
We were lucky to sell some JNUG positions earlier this year for considerable short-term gains, including the day before the year's high.
So too NUGT, the last of which was sold on the day it hit its high for the year.
See "NUGT sold +36% in 6 Months, Tesla (Bad) News".
Today we'll buy back 1 JNUG sold position, which trades at $7.40 as this is being written.
We'll bid $15.60 to buy back 1 NUGT sold position, which trades at $16.12 as of this writing.
Tesla, which we often called "a generational shorting opportunity above $300" trades at $263 and will release what should prove to be surprisingly poor quarterly results on Wednesday.
Expect a collapse in demand, and the usual apparent accounting shenanigans to obfuscate how bad the situation truly is.
We remain double-short Tesla and still believe it to be a generational shorting opportunity, especially if it manages a material rally.
If you're not short stocks, it's a great time to buy TZA and VXXB which trade at $9.52 and $25.45 respectively.
Stocks overall are grossly overvalued and over-believed and in the long term will trade far, far lower.
We're loaded on short positions, and may add even more should the buying panic that began late last year continue much longer.
So too NUGT, the last of which was sold on the day it hit its high for the year.
See "NUGT sold +36% in 6 Months, Tesla (Bad) News".
Today we'll buy back 1 JNUG sold position, which trades at $7.40 as this is being written.
We'll bid $15.60 to buy back 1 NUGT sold position, which trades at $16.12 as of this writing.
Tesla, which we often called "a generational shorting opportunity above $300" trades at $263 and will release what should prove to be surprisingly poor quarterly results on Wednesday.
Expect a collapse in demand, and the usual apparent accounting shenanigans to obfuscate how bad the situation truly is.
We remain double-short Tesla and still believe it to be a generational shorting opportunity, especially if it manages a material rally.
If you're not short stocks, it's a great time to buy TZA and VXXB which trade at $9.52 and $25.45 respectively.
Stocks overall are grossly overvalued and over-believed and in the long term will trade far, far lower.
We're loaded on short positions, and may add even more should the buying panic that began late last year continue much longer.
posted by C. Guinness @ 3:07 PM
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