Hi everyone, happy Superbowl Sunday!
I made some active trades this week, notably increasing my position in ORCL by 50% and going short GOOG as a hedge against ORCL. I ended up covering half my GOOG shares on Friday because the price action hinted that it would continue higher. It’s still a large short position so it should protect me a bit if the market gaps down large. I took about a .20% loss to account on the GOOG hedge, and am down about .40% overall.
ORCL daily chart below. No change to original plan other than maybe needing to raise my stop loss to protect profits.
C daily chart below. No change here, nearly got stopped out at 57.
GOOG daily chart below. Covered half my short position for a small loss.
ODT daily chart below. Thinking about selling it now, and maybe reentering later.
XPEV daily chart below. Thinking about taking a position trade (hold for 6 months+) here. Can’t figure out where I’d put my stop loss though. It’s either a close below the previous low near 37 or a close below 40.
See you next week.