Minerva Market View for Oct 19, 2023
Expect more turbulence ahead. Our short book has been helping us.
This post is for professional investors only and is shared with other like-minded investors for the exchange of views and informational purposes only. Please see the disclosures and disclaimers for more details and always note, we may be entirely wrong and/or may change our mind at any time. This is not investment advice, please do your own due diligence.
Good Morning!
Market view:
In the short-term, expect more turbulence until the S&P breaks the near-term low and breaches 4200. I am still net long but will move fast to lock in my profits based on price action. Our short algos have been fantastic this year, and in fact, have delivered stronger gains than the long book.
Current positioning:
Longs: yellow = looking to sell, amber = looking to trim, green = looking to hold
I also have Gold as a hedge.
Shorts: up big on WBA
Shortlist for today: These are potential short candidates I am looking to add today based on the price action:
Let me know your thoughts if any on the positioning and the tickers above. Happy trading!