I shifted away from my aggressive-long stance and into the general direction of neutral, ahead of the final trading hour and increasingly so into today's negative close.Gone for now are GS and TSYS longs. New shorts included a healthy degree of JPM (7%), RSH (4.6%) and...
After the close I was able to grab another financial short, new Cramer-promo FMER (5% position); complete with a 4% premium to the closing price.
Praise be Cramer.
Futures are selling some tonight, as GM is apparently going goose eggs. Tomorrow will be interesting. I have a little protection now - if the market can't regain any strength within the first 90 minutes I'm returning to the dark side. Otherwise I'm content to let go of the new hedges and roll long with the in-crowd yet some more.
Worst case for me, financials rock higher while growth names get nailed early. That would start my new quarter off wrong.
Pimp my Twitt for all the finer details >>>
Total Position: 4-to-1 net long, 93% invested
Currently Long (according to size): MYGN, NFLX, ARST, RJI, MNRO, PMCS, WNR, SNDA, CHKP, NVLS, LFT, TNDM, DRI, IOC
Currently Short (according to size): JPM, FMER, RSH, EGO
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