2.19.20 - Market Reacap

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The SPY and QQQ are in measured move sell zones. This means the flow on FANG should slow from here. 

Take a look at NFLX and FB today and their failure to break out. 

SPY: Only 37 million shares traded today. Average volume? North of 60 million a day.

What does this mean? It means institutions are not participating at these highs, hence, the market getting ready to sell off a bit. (Yes, markets to ebb and flow) this is for those of you who only know how to buy and never hit the sell button then whine when you lose. Sorry, not sorry. 

We exited the CMG long trade all of the final contracts. This was a big trade for February.

All of the net long positions have been trimmed or cut completely. 

We prepare for a net short portfolio in March.

Current holdings: 

• NFLX (Long putts, started the short today, maybe adding)
• QQQ (long puts, dated 5 + months out, added to this today) 
• TSLA long $875 puts on this, small spec play. This stock makes zero sense, but let's join in on being degenerate trading it with a little cash. 

SHOP: This is on the short radar. $530 breaks, and a daily close below that, then we're getting short this. 

TESLA Short: This stock is just insane, but big money to be made if you know what you're doing. $910 is the level here to watch. Below that this is the third test and subsequent break. That makes the target $890-$880s about.