Trade Alert: Trimming into this big rally

I’m getting a bit dizzy with these wild swings in the markets but at least we’ve had some nice success using the swings to our advantage. Just yesterday, I wrote:

“It’s been an absolutely wild week and a half of action. Another swift sell-off from the highs *checks charts* uh, two trading days ago. I’m selling a few index puts here, unloading a little bit of protection. Maybe nibble a little bit of the names we trimmed during the big rally *checks charts* uh, two days ago that have sold off, and other names such as BIDU, UBER, SQ, etc  a few others. I’m sitting tight on our TLT puts that have been cut in half or so in the last *checks charts* uh, 20 hours.”

And remember that on August 5, what has now turned out to be the exact short-term bottom, I’d written about how I was nibbling on a bunch of names, including AAPL, AMZN, BA, BIDU, CSCO, FB, JD, SQ, TSLA, UBER, ZEN and covering a bunch of shorts. Well, now I’m trimming quite a bit, including most of the aforementioned names that we bought at the lows, just taking advantage of this wild action again. I’m also trimming a little JD after a strong earnings report there.

I’m also finishing up the Latest Positions write up, but the markets going crazy like this doesn’t exactly make it easy! I’ll have it out later today, I assure you.