I find myself today with a perplexed feeling regarding the market behavior this week. Don’t get me wrong though, I am more than thrilled with the stampede run for my long positions. I am grateful, just wondering how far from reality the market is right now. A lot of headwinds, a lot of negative events in progress around the world. I guess we don’t care.
Nonetheless, I trade what I see. And what I see are stocks like LULU that run 20% up in a week. Or a stock like PCLN that breaches the 500 level with the greatest of ease. Incredible.
I am closing most of my remaining Swing long positions as we ramp into the end of the quarter. I have no current Swing short positions at this time. I do have several Short positions in the LT account that are part of my Bricks & Mortar Shell basket. My largest option trade, in the Options account, is a Risk Reversal on XLF for June strikes of 14/18.
I Believe, I have accepted. I also believe that I should be nimble.