Not much intraday action again today, as the markets opened a bit higher once again and have faded lower most of the day once again. You can’t force a turn. The prices in a lot of our names are getting closer to a place where I’ll likely start to do some tranche buys, but I’m still comfortable with a heavy cash position and lots of hedges in the portfolio overall for now.
Dollar Tree remains in free-fall and is now down nearly 30% from where we shorted it originally. I’m not covering any of that short yet, but I am indeed kicking myself for not having bought puts in the name in addition to shorting it.
Please do try out the new game by going to ThatMattered.com. We’ve got you set up with complimentary access to play the game by using your TradingWithCody.com username and/or your email address. To get a password to login to the site click here and put in TradingWithCody.com or your email address username. Any problems or questions, email us at email@example.com.
The game is off to a great start and traffic is growing steadily, but we need some more feedback and testimonials. So please sign in and and play around and let me know what you think of it! If you went back in time to some of the biggest events in history, do you really know how good a trader and investor you would be? Find out at ThatMattered.com.