Perhaps it’s time to dump my short S&P position

The markets ended on a bit of a weak note today, which might be a good opportunity for me to exit. The reason why is simple … shorting large tech companies just doesn’t make sense right now. Check this out:

https://screener.fidelity.com/ftgw/etf/goto/snapshot/portfolioComposition.jhtml?symbols=SPY

I’ll treat this as a learning experience and move on. For now, my January shorts in the Russell 2000 still seem good, as does going long gold miners – particularly the biggest and strongest that are tied to the popular GDX etf as well as the gold streamers.

Best of luck to you all.

About johnonstocks

I've been trading stocks since 2003, active on Motley Fool's discussion boards and using first Hidden Gems, then Global Gains. I no longer have the newsletters, but I keep up on the WSJ and read David Rosenberg everyday at gluskinsheff.com. Education: CFA level 2 candidate MBA-focus in Finance, Marshall, University of Southern California - expected Dec 2010. BS Mechanical Engineering, UC San Diego, June 2002
This entry was posted in Uncategorized. Bookmark the permalink.

2 Responses to Perhaps it’s time to dump my short S&P position

  1. Pingback: My trading scorecard: decisions traced through the pandemic | Market Thoughts – What I’m doing and why

  2. Pingback: Journey of a post-pandemic Bear | Market Thoughts – What I’m doing and why

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s