2/14/2021 Markets continue grind upwards. Doubled my long position in XPEV, and doubled my short position in GOOG as a hedge

Hi everyone, I hope you had a nice week.

SPY daily chart below. Markets continue to grind higher, and I suspect a pullback is coming soon (1-2 weeks). I think the index will drop no more than 11% before reaching all-time highs again.

The first pullback is about 6-7% lower, while the pullback to the 350 range would be 10-11% lower.

I doubled my long position in XPEV at 46 this week. I threw in a low limit order early in the week which managed to get filled. My average purchase price is now 46.85. Earnings will be out on March 8th, so I will be out of this trade before then. Daily chart below:

I doubled my short position (hedge) in GOOG at 2095. My average short price is ~2073, so I’m down a bit on the trade. I still plan to exit this GOOG trade early if ORCL (long position) hits my profit exit.

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 )

Facebook photo

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

Connecting to %s