Yesterday, I increase the IBB short by 50% and opened a long TSS/CRM trades (half positions only.)
The TSS trade had to be closed a few hours later because the price that was holding well after acceptable earnings started to break below the LOD.
The IBB short trade could be in trouble today if CELG/BIIB bounce on their earnings, but we will decide on the Money Flow.
CRM was bought because it broke out on strong volume and was still in the buy zone. I will increase the long position if we pull back today.
TSS was a mistake. Earnings were good and guidance looked also good to me, but clearly the market did not accept this view point. Hence, I had to close the trade on a small loss. I did that because of the engulfing bearish candle that started forming.
The portfolio is 40% invested now, mostly in a short IBB position.
The trade ideas for today are below.
TIF, VRSK and CRM are still interesting.
On the short side, I pointed out NTRS and GME (GME has a low PE, but it is under selling pressure, because its business model stinks. However, the short ratio is about 20%, whihc means that a short squeeze will be easy to organise)