Same-week whammy in the small caps ... that's a quick way to lose ~13%.
Emerging Markets and Small Caps flip back to long.... posted an updated 30 minute SPY chart below with the range marked out.
Timing of the pop odd since the story was on the AFP wire at 3:32 AM ... maybe it came on the boob tube, I have no idea... in any event, the scanner should have been screaming at 10:50, I assume a human could have entered at $11.38. See the StockTwits screen cap below to see who picked up on it fairly fast: WallStJesus, OpenOutcrier, NewsHedge_Squawk, UTradingFloor, DayTradeWarrior, and TrendsInvesting.
Reversing QID and TECS for large losses ... those are two of the terrible positions taken on 8/24 (fixed the date typo in spreadsheet, prices were always correct), just the absolute worst sort of whipsaw. Anyway, soldiering on.
Reversing the yen short for a loss ... a reminder that I'm the only person on Planet Earth who shorted the China market on June 1st, find me another time-stamped post, article, TV clip, I don't care, which shows similar timing and I'll paypal you $20 ... I've posted a chart of the SPY down below ... you can expect prices to bump around in that range for awhile, nearly a 30 point range, so....
SRS belatedly reversing, no other changes. Terrible action last week for trend followers, just the worst kind of whipsaws, but nothing has *re-*reversed yet so I'm assuming that real damage was done to the market and we'll see things back and fill for many months.
I joked on The Twitter that SCO could reverse now that I had bragged about my "gains" ... never brag. :-)
Again a case of people in the know being able to sell some before the "news" hits. Back on Tuesday, regulators put the kibosh on the EXC purchase. No way to make money on this unless you were able to short into the fat bar as it formed, pre-halt. Good luck with that.
Supposedly being bought out ... action during the lunch hour telling ... lots of buyers "under the radar" ... still if you got in after the "news" hit, you should have done fine, assuming you were quick.
I don't usually feature after-hours pops since they're usually earnings-driven, but this was different ... Icahn disclosing a stake in FCX after the close on Thursday, causing it to pop. If you were fast and got in then out before it collapsed again, you could have made a buck. I guess the filings reader bots got to this first but I can see a human getting in at $11.
Cutting losses ... almost 100% short now (the bonds and XIV are inverse plays) ... shorts put on in July offsetting most of the longs put on at around the same time ... a "hedged portfolio."
Again during the lunch hour ... I guess CNBC got the scoop (leak) ... not much oomph on this one, risk reward wouldn't have made sense in the end, though you wouldn't have lost money, assuming you were quick. Options watchers were aware of unusual activity in the calls before this happened, so the fraudsters (now on a golf course somewhere?) made out once again.
But they didn't hack the press release this time.
Bit late to post this, happened the Friday before last ... every day trader on planet earth saw this at the same time, scanners blaring across the land ... Bloomberg story is time stamped at 01:42PM: ValueAct Said to Amass AmEx Stake as Activist Seeks Targets but it probably showed up on the Terminal before then, though long after 13:27 when everyone piled in. Once again I can't see a realistic entry without a tick chart, not available to those slumming on the $9.99 datafeed. Hang on the story is time stamped August 7, 2015 — 1:28 PM EDT, which must be the Terminal time stamp, not the web.
No changes this week. My energy, metals, and materials shorts are doing well ... and of course my perfectly-timed China short helps things.
Maybe I'm the only one who's fascinated by what people buy during their weekly grocery shopping ... we just went and here's ours ... (will post a new receipt every week if you want to scroll down and down and down):
2015 08 02
2015 08 09
2015 08 16 ... smaller shopping as we'll be away most of the week.
2015 08 24 ... wife impatient and checked out first, thus the combined bill.
2015 08 29
2015 09 05 ... ran completely out of food, thus the Saturday shopping
2015 09 13
2015 09 24 ... sorry, shopping schedule got a little screwed up with houseguests, but we're back on track now.
Cutting more losses ... the China short nicely timed though.
From December 18, 1954 ... by E.B. White:
First news I saw was CNBC at 14:13 ... scanner may have picked things up at 13:57 or 14:03 at the latest ... hard to say if you could find a borrow and get short ... always interested in talking with traders who caught this in real time.
Lots of large losses and a few scratches ... hard to make a buck on the short side still.