The BWA short worked well. We can see that money started to move in, so it is time to adjust the stop lower.
STI issued a short signal and I shorted it, but just a few minutes later, it started to bounce on strong buying. I was relieved to see the market break down at the end of the day.
The IBB long did not work well. It started out nicely early in the day, fell back into the $285-$287 support, had a hard bounce (and I was convinced that markets would close higher) and finally broke through support with the rest. It is impossible to keep a long position in such conditions, especially with the MF supporting the negative move.
The Portfolio is now 30% short. Not enough short positions simply because volume was weak across the board yesterday and also because we are in a heavy earnings season week.
The positive side is that the Portfolio gained 0.5% yesterday.
For now, we own two of the stocks that issued a short signal yesterday.
The Trade ideas for today are below. Those in Blue will publish earnings in the next days. Better not enter for now, especially if they issue a short signal.