Selling More TZA and VXX, Buying LL
We're buying LL (Lumber Liquidators) at the open up to a limit of $8.35
We believe it to be a long-term value play and will add to it over time if it drops materially, so no stop on this holding.
We're booking more gains at the open on Thursday, if tonight's futures are any indication:
Friday the 28th we clocked average net profits of 68% on two different TVIX positions, 22% on two different TZA positions, 9% on a 3rd TZA, and 5% on a 4th TZA.
Monday March 9th we scored gains of 15% on two different VXX positions and 8% on a 5th TZA holding.
Tomorrow we'll offer for sale:
Our last three VXX holdings, at $41, $47 and $51 respectively.
Our last two TZA positions, at $70 and $75 respectively.
If all those sell, we'll still have two QID positions which are unlikely to ever be profitable but at this rate who knows?
We only know that as markets collapse we wish to be much less short those markets, then to reset those positions on major rallies since, no, we are still not long-term bullish.
We are also well underwater on our Tesla shorts, which we'll address in due time. Nothing has changed with respect to that company, its CEO, or our feelings about it. All extremely negative.
We believe it to be a long-term value play and will add to it over time if it drops materially, so no stop on this holding.
We're booking more gains at the open on Thursday, if tonight's futures are any indication:
Friday the 28th we clocked average net profits of 68% on two different TVIX positions, 22% on two different TZA positions, 9% on a 3rd TZA, and 5% on a 4th TZA.
Monday March 9th we scored gains of 15% on two different VXX positions and 8% on a 5th TZA holding.
Tomorrow we'll offer for sale:
Our last three VXX holdings, at $41, $47 and $51 respectively.
Our last two TZA positions, at $70 and $75 respectively.
If all those sell, we'll still have two QID positions which are unlikely to ever be profitable but at this rate who knows?
We only know that as markets collapse we wish to be much less short those markets, then to reset those positions on major rallies since, no, we are still not long-term bullish.
We are also well underwater on our Tesla shorts, which we'll address in due time. Nothing has changed with respect to that company, its CEO, or our feelings about it. All extremely negative.
Ref: Short Positions Recap.
posted by C. Guinness @ 11:28 PM
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