The Market Givith and the Market Taketh Away + Short Interest Updates – Feb. 26th

  • Sour ending to the day.
  • Hello BIDU!!!! Woot.
  • Dougie got really excited about the TSLA convertible note (I presume that was his reason for shorting the entire time whether he admits it or not). Unfortunately for him, it started going higher instead (face-plant).
  • And! This from TSLA: sees 2020 Gigafactory Tesla vehicle volume about 500,000/year.
  • I sold CZR today. I’m sure it has more upside, but wanted to keep my profits and move on.
  • Fake out in CMG today. There will come a day though.
  • Tomorrow Janet testifies. Last time she spoke for six hours and there was no heavy selling so she appears to be able to chose her words carefully. However, that was just one time so don’t know what to expect tomorrow.
  • With all the 183 and 184 SPY puts I worry about a delta hedging type of break (see here for explanation) so I am holding some SPY puts that expire next week as a hedge against my longs. I am willing to let those go to zero and would prefer if they did. It’s tough to be bearish though with high flyers making new highs daily.
  • Here is updated weekly SPY open interest. Not too much change. Some added 183 and 184 puts. spy.2.26
  • I want to do the TSLA cheer with SCTY, but it’s only deserving of one cheer so “SCTY!”
  • I’m disappointed with AMZN, but I have plenty of time.
  • Chart of the day: Hard to be bearish when IWM made a new closing high. Screen Shot 2014-02-26 at 5.46.08 PM
  • Tweet of the day: no one made me laugh today.
  • I wrote this last night, but maybe today it will be more useful:
    • If you are having a bad day, go to my homepage and watch the video I added to my site. If you are not having a bad day, then save it for later (watch the entire thing).
  • New information about short interest came out today. Note short interest is updated every two weeks, but the settlement date is prior to that. For these updates the settlement date was February 14th. Here are some highlights.
    • SPY increased by 8.4%
    • JCP increased 8.5% to 42.6%
    • TWTR increased by 32.4% to 27.3%
    • DDD increased by 43.4% to 24.6%
    • GMCR decreased by 12.3% to 27.5%
    • TSLA decreased by 5.3% to 35.2%
    • SCTY increased by 16% to 28.1%
    • BBRY decreased by 13.2% to 19.2%

2 Enlightened Replies

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  1. John S. Gilbert says:

    Thank you for all your great work posting to StockTwits. I’m a big fan! I’m very happy this afternoon, since BIDU is my largest position…by far. Had to put CNBC’s Fast Money on pause so I could play this loudly a few times: 🙂


  2. D villa says:

    A little premature .
    I own it as well but it may go into the red before the day ends 🙁