mbslack1

mbslack1

Looks like UHC might gap lower tomorrow morning; in addition to a rather robust sell-off today, hourly net volume was negative for every hour today. And of course...they've been exposed as a company likely to break insurance contracts 32% of the time. Their current CEO insinuated that his workers were in the "healthcare industry" because they "care". Insurance...

mbslack1

The word is out Buffet liquidated his GS position which is not particularly 'bad' for GS. Buffet injected $5bln into a weakened GS in 2008 with some significant conditions... one of which GS execs could not sell stock against Buffet's position :) :) :). That said, GS is still a decent short with initial potential down to about $192.

mbslack1

TSLA earnings were interesting not the least for it's claim of billions of sales in China...during a pandemic. The FED is keep stocks buoyant and fighting the FED can cost some serious cash. TSLA is overdone, esp. if earnings are indeed...ephemeral. Technically TSLA is ripe for a pullback so buying near term puts...from 18 August to mid-September seems worth a shot.

mbslack1

Sold CONE and Broadcom; they're both in the red but not enough to cover. Took profits on XL And RE.

mbslack1 Updated 

Still short SPY...but with buy stop up over recent highs. Doubled down on RE y/day . Will add to XL short today. Still Long CSCO (slow mover), Still long CSCO, closed CVS with small profit. Closed EQIX with profit last week.

mbslack1

Bought TSLA; might be swing trade. Keep a leash on this one too.

mbslack1

Short RE. Seeing bit of size liquidation coming in to mkt. Might sell again today.

mbslack1

Starting to see liquidation pattern.

mbslack1

Selling SPY low risk short.

mbslack1

Selling RE again today provided there is no gap lower opening on daily charts. RE short interest is slight at ~5%. Institutional ownership is ~ 98% but volume is up by 33% in the recent sell-off suggesting there's some interest by short term traders.

mbslack1 Updated 

Like CVS corp culture; debt to equity, low beta. Everything seems pricey now but there might be some short term upside here.

mbslack1

While FB's role in the election of DJT is likely to be vastly larger than FB has as yet owned up to....the fact is, there are no regulations against what FB did per se. Tight stops here b/c sentiment and un-spooling of FB/Russia story could add volatility though financial repercussions unlikely. Keeping close stop near 170.00; not too comfortable w/ this one.

mbslack1 Updated 

Many insurance charts look the same; sell-off being forestalled by on small volume. Filled 90.43.

mbslack1 Updated 

CSCO may have 1 day reversal; shoulld wait until tomorrow. Keep a leash on it.

mbslack1 Updated 

Shorting high flyer Reinsurance; also seeing institutional buying but reality might bite.

mbslack1 Updated 

After 4 quarters of huge earnings misses, despite this firms pretty darn good business model, going to try and make a bit on the downside. Limited risk. Sold 400 shares today.

mbslack1

XL is being supported by institutional buyers trying to forestall the re-insurer's balance sheet hit from Harvey and Irma. Think it's in for a bit of a downdraft. Trade is short term to start. If right, will add to short. If wrong, risk limited.

mbslack1 Updated 

TREE is ridiculously priced; the CEO admits that just 2% of mortgages are TREE referrals. I thought most people knew TREE is an information selling site; they issue no mortgages, take no risk and depend on those looking for mortgages to enter their data hoping to get a good mortgage rate. What consumers "get" is their information sold to mortgage outfits that...