Sold POT at 187.39 for a tiny "profit" on 8 shares... I bought this as a hedge against a substantial Fed cut and because I admittedly was blown away by the last CC. POT purchase will come...
Bought DUG at 31.51. I bought right after the announcement. Ideally I would have waited for the market to let the news sink in and let the market come to me. I missed out on the sell the news component but I do think DUG begins to climb over time from here as sector rotation will in earnest moves out of oil. Next time if I have time I will wait a little longer after announcements... still a good long term move...
The fed meeting didn't rock the boat though it was interesting that two members of the FOMC were now on the side of no rate cut. Right after the announcement there was a sell the news and oil went up, AG went up. However, I think this meeting will mark the continuation of the downtrend in oil prices and commodity prices and a strengthening of the dollar at least in the next few weeks/months unless the economy really weakens and it becomes obvious the fed will lower again.
In terms of UYG I want to wait and see with some volume sector rotation into this before pulling the trigger. This is still a risky play because of the fundamentals... so not too much...
Back to my work...
Best,
Jon
This blog is for informational purposes only. It does not give investment advice.
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3 comments:
I sold POT freshman year of college.
Fiftybillioncent
By the way
you still lookin at SDTH?
Fifty
I smoked a lot in college and sold a little but I never ever inhaled...
SDTH is very much on my radar. At the very least look for a run-up into earnings on May 7. With their increased capacity I think they beat the estimate easily...
I'm doing some DD on it right now...
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