NFLX gapped up on news of China potential and gave a textbook entry long w low-risk entry for outsized gains of 3-500%. At the same time a nice chase in post-EPS long ATI made for a nice morning. Afternoon was all about positioning for an expected bounce in oil: XLE USO XES XOP COP PXD DVN. Big oil inventories tomorrow 10:30AM!
S&P and QQQ continue to power higher into Thursday’s Big-Tech earnings day (AMZN GOOGL MSFT) so making hay while the sun shines cuz I’m a skeptic and watching that VIX VXX gap fill potential out of the corner of my eye at all times.
Apologize for poor resolution and double-fast speaking at end but I wanted to include an educational segment which is at the 10 Min mark where I was asked what Reflation Shorts I still hold and why. My answer: TECK and X. You’ll laugh; I was adamant about my X short price targets but said I don’t know when it will hit!
X hit my exact price target 18% lower after hours so I guess X can bounce now ;-).