Trade Alert: Putting Some Money To Work On The Long Side
This is the kind of ugliness that a bear market can bring.
It’s U-G-L-Y, you ain’t got no alibi ugly out there, people getting panicky.It’s what I was warning about over and over last year and during the good times. Remember when everybody in chat was always like, “Cody, this is so much fun buying stocks and making tons of money every day!” And I was always like, “Please people, remember that investing isn’t supposed to be fun! It’s hard and risky.”
I doubt we’re going catch the exact bottom on any of these purchases today, but I am putting a little money to work on the long side for the first time in while, not just selling puts and covering shorts today. I’m selling lots of puts that I have on as hedges in the hedge fund and am doing some nibbling on the long side there in AMZN, SHOP, UBER, INTC and a few calls on QCOM, NVDA, META, and U. Mostly buying calls dated out 4-8 weeks, slightly out of the money.
And yes, bought some TSLA calls in the hedge fund and am even buying a little TSLA common around $122 here.
We’ll do this week’s Live Q&A Chat tomorrow morning at 9am ET in the chat room and/or hit reply to this email with your question and I’ll include it in the transcript.
