Getting A Wee Bit Longer

I’m making some minor moves in the hedge fund today (mostly just covering some short hedges and trimming some puts) but despite the pullback in many names I like, I’m still not making any nibbles in my personal account. Tesla’s got the double whammy of bitcoin getting sold off hard along with the news of people apparently being killed in a Tesla playing around with Autopilot. I don’t know how you can possibly have Autopilot engaged without being in the front seat, but that’s what the reports indicate. I’m not making any changes to my Tesla long in the personal account although I did put on a few additional hedges in the hedge fund earlier this morning.

So in the hedge fund I’m taking advantage of today’s panicky action to do a little bit of nibbling on some of the names I’d trimmed at higher levels in the last few weeks and months. I’m going to give a wide berth to the buys here, but as things come down, I’m likely to do some more nibbling in our longs. Thus far, and only in the hedge fund, I’m nibbling a few shares of the following names:

PINS, SQ, MP, JMIA. Again, I’m mostly just covering shorts in the hedge fund.

I’ve been warning that stocks were likely to get hit like this and here we are. I’ll write up some updated market analysis this evening after the dust settles today. Be careful out there, it could get uglier, especially in the small caps.