2/4/2021 Forgot to update that I shorted Goog in after hours yesterday at 2070 as a hedge.

I shorted Google (GOOG) in after hours at 2070 yesterday. It’s a large position that almost offsets the long position in Oracle (ORCL). I realized my ORCL position was large enough that if the market decided to gap down large, I could be out a lot more than just 1% of my account.

Google had great earnings and the stock reacted positively. However, I think it’s more likely we have a pullback first than to continue going up.

Entry short: 2070, Stop Loss: 2140, Profit Exit: 1930 (or when I’m out of ORCL).

GOOG daily chart below:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s