Ha ha ha, I just like posting the featured image above. Despite a rough start, long accounts and short accounts are green this morning.
But it is notable that the long things are green on balance and the short things (only 3 of them) are each green as well. You know two of them (AMAT & LRCX) from the previous article. The 3rd is related, from the Semi Test Equipment segment. As I notice Intel getting skewered too I may consider adding a short against the broad Semi sector as well. We’ll see. Still very strategically long biased with lots of dividend-paying cash equivalents (mostly T Bill fund SHV), as the Fed pays us another modest .25% increment to do nothing.
But the market is rotating as man and machine try to figure out the implications (the full list of tariff items is linked in this morning’s article as well; check it out) of not only trade, but also interest rate and currency dynamics. It’s a complicated backdrop but there should be out and under performers in the short-term.
Anyway, here’s the daily SPX chart continuing to dwell below resistance but also hold key support levels.
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