Hi everyone, I hope you had a nice week.
Stocks are up a little this week, with QQQ / technology stocks leading the way again. I’m thinking about starting a small short position on Tesla or the market in general.
Here’s the daily chart of Tesla (TSLA) below. I would probably hedge my bet by going long QQQ as a hedge.
SPY daily chart below. I’ve been mentioning the bearish RSI divergence for multiple weeks now.
An update on my positions – I’m still long MRO (up quite a bit), long XLF and short SPY in a pairs trade (down a little -> ~ .5% of my account), and looking at the INO/NVAX pair (long INO, Short NVAX). Thanks for reading!