Selling TZA 4th & 5th Positions, JNUG Stop Raised Again
Today we closed our TVIX position at the open of $20.18 for a gain of 43% in just a few days.
It finished the day far higher at $22.56, and as of this writing after-hours it's at $26.50 which is 88% above our entry.
If you didn't sell TVIX today, we suggest doing so if it remains higher by morning. It's a highly volatile and levered instrument, and we have so many other short positions to bring us joy as markets spiral lower in the weeks and months to come.
Readers of this blog should not at all have been surprised by recent market action. It was overdue, and stocks were primed to tumble hard as these recent posts show:
Strong Consumer Confidence Should Send Stock Speculators To The Checkout Aisle - "Note: we changed the word "investors" in the title to 'speculators' because at these levels there are arguably no investors in equities ... unless they've sold short"
Gold Positions Update - "On April 22 we posted in bold: 'If you're not short stocks, it's a great time to buy TZA and VXXB'. These rose 20% and 31% respectively and are now back down to roughly the same levels as on April 22. (VXXB now trades as VXX). We again strongly suggest that if you're not short stocks, it's a great time to do so via TZA and VXX which last traded at $46.36 and $23.01 respectively."
VXX is up 38% and TZA is up 21% in the 2 1/2 weeks since.
If You Want Rate Cuts...
The Worst Risk-Reward Setup Ever?
Fantastic Chart
Gold & Russell Triangles - "TZA closed today at $45.88 and we love it at this level."
TZA is 22% higher as of this writing three weeks later.
Congested Epic Top
We Are Here
We'll offer our 4th and 5th TZA positions for sale at $54.00
These were bought at $48.75 and $47.00 (split adjusted) respectively.
TZA closed today at $52.46 and is far higher, at $56.12, in after-hours trading.
If markets rally short-term and our $54.00 offer is not hit in the next day or two, we might cancel this sale or raise the sell limit.
We do not intend to sell for less, nor even sell at $54.00 if we wouldn't have many short positions remaining.
We've been enjoying fantastic gains thanks to gold lately too.
Gold's Remarkable Chart
Gold Positions Update
We raised the stop on one of our two JNUG positions already twice in the past 24 hours, and now do so again.
Tonight gold is trading higher, as is JNUG.
We're raising our stop on JNUG to $89.90
It closed the day at $90.33 and last traded at $95.00 after-hours.
If it opens tomorrow below $89.90 we'll simply sell at the open.
It finished the day far higher at $22.56, and as of this writing after-hours it's at $26.50 which is 88% above our entry.
If you didn't sell TVIX today, we suggest doing so if it remains higher by morning. It's a highly volatile and levered instrument, and we have so many other short positions to bring us joy as markets spiral lower in the weeks and months to come.
Readers of this blog should not at all have been surprised by recent market action. It was overdue, and stocks were primed to tumble hard as these recent posts show:
Strong Consumer Confidence Should Send Stock Speculators To The Checkout Aisle - "Note: we changed the word "investors" in the title to 'speculators' because at these levels there are arguably no investors in equities ... unless they've sold short"
Gold Positions Update - "On April 22 we posted in bold: 'If you're not short stocks, it's a great time to buy TZA and VXXB'. These rose 20% and 31% respectively and are now back down to roughly the same levels as on April 22. (VXXB now trades as VXX). We again strongly suggest that if you're not short stocks, it's a great time to do so via TZA and VXX which last traded at $46.36 and $23.01 respectively."
VXX is up 38% and TZA is up 21% in the 2 1/2 weeks since.
If You Want Rate Cuts...
The Worst Risk-Reward Setup Ever?
Fantastic Chart
Gold & Russell Triangles - "TZA closed today at $45.88 and we love it at this level."
TZA is 22% higher as of this writing three weeks later.
Congested Epic Top
We Are Here
We'll offer our 4th and 5th TZA positions for sale at $54.00
These were bought at $48.75 and $47.00 (split adjusted) respectively.
TZA closed today at $52.46 and is far higher, at $56.12, in after-hours trading.
If markets rally short-term and our $54.00 offer is not hit in the next day or two, we might cancel this sale or raise the sell limit.
We do not intend to sell for less, nor even sell at $54.00 if we wouldn't have many short positions remaining.
We've been enjoying fantastic gains thanks to gold lately too.
Gold's Remarkable Chart
Gold Positions Update
We raised the stop on one of our two JNUG positions already twice in the past 24 hours, and now do so again.
Tonight gold is trading higher, as is JNUG.
We're raising our stop on JNUG to $89.90
It closed the day at $90.33 and last traded at $95.00 after-hours.
If it opens tomorrow below $89.90 we'll simply sell at the open.
If our stop is not triggered tomorrow, we'll likely raise it again.
posted by C. Guinness @ 6:30 PM
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