alice

NFTRH; Mid-Day Notes

First, per a question by a subscriber, the HUI would not be considered as having lost the 195 marker based on the in-day squiggling.  That is, as I noted to him, b/s.  A daily close below 195 would irritate me and weekly close would be considered a failure.  Another note, when I write “195”, I mean within a reasonably tight range right around that number.  I don’t talk in absolutes, as you probably have observed.  So, currently at 198, Huey holds.  I got rid of the silver short for a limited loss, by the way.

The Dow hit our 21,000 target today and SPX lurks just below 2410.  Whoopee!  I shorted Small Caps (IWM) to go along with my SPX short (against SPXL).  These are still counterbalanced against long positions, which outweigh shorts; just by a little less now.

I’ve also held the bond fund, TLT despite its drubbing.  It’s back to a hair above where I bought it, but again, the dividends.  Also, what caused the big spike in rates?  The Fed Jawbones?  The Trump build-out of a great America?  I am holding it for now as a counterbalance as well.

I also added SQM and FLIR after they were highlighted in NFTRH+.  I tried to get them on their respective in-day fades.  I also added gold miner KL.TO (Kirkland Lake) to the usual suspect miner holdings.  It was down pretty big earlier.  Since I by no means think the miners are out of the woods, but understanding that they are over sold, gold bugs are scared and the PDAC trade show is right around the corner I thought I’d get longer, while still being very light compared to how I’d be if I were to see a real hard bottom amid improving fundamentals.  i.e. it’s a play for now.

Everything in a dynamic market like this is subject to alteration or revision.  Profits will be taken and losses limited.  But for now, this is my snapshot.