Heh. Meaning the investments I sold out of and the value of them while I went in and out of cash.

Besides, money market funds return 1-3 dollars a month!

Unless you got back in at a valuation that takes into account what you lost to the taxes, you lost money.

IB pays 50 under Fed Funds, which currently amounts to 0.41%, which will be 0.66% after FOMC next week.

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Long SQQQ 3x short naz

Looking at grabbing some SHOP sub 88.

Bought SRPT 34 calls expiring this week. Haven't heard anything from the company for awhile and they've given sales updates at conferences in the past

Stopped out an hr before the bell

The start of this sector rotation isn't as convincing to me as last winter just going off buy volumes in financials. XLF was up those two days when tech was sold off. The price action was clear enough to signal it though. So we've got XLF.

A lot of these big cap finnies are around 1 X book value and trailing PE's around 10 or less. ALLY has a PEG of 1.17 and PE of 8 lol. I like ALLY the best here. Hartford HIG and STT are real cheap to and the price action is there to. I have more to look at.

Where else did you see the sector rotation?

Are you bullish on the auto industry? Hope you understand what ALLY is a proxy for/why it's cheaper compared to the sector.

Steel,... meh

ALXN

@ahnuld do you still have a view on DDS? I'm taking a look at it now and think retail could be worth almost the EV of the company currently (hard to determine accurately since their locations are pretty poor from my cursory look). So you basically get real estate + interim FCF + optionality on retail business (i'm viewing it as an option as it's probably worth something > 0 but hard to assign a real value here).

What does worry me a bit is that the EBITDA has shrunk to a level where the flow through from the Wells Fargo credit card earnings pretty material to the FCF story. Based on the 10-K they are exposed to credit risk in a way (indirectly due to them getting part of earnings of the business). This is on top of the normal retail issues everyone else is facing.

Healthcare VHT etf b/o longed some.

drop in SHOP is starting to give me wood. What do you chart guys see? I think it's got more room to fall here.

More weak economic data yesterday. No doubt part of the reason we're selling off this morning, and bonds are doing the opposite of what you'd expect. We're too high for where the data is.

Empire manufacturing at a sudden unexpected high gave the market a nice boost at 8:30 though. Might have saved us from a decent selloff.

M15 close below 2417.75 in the ES could pull the trigger for some movement

Anyone else thinking about AKAM? Love that industry. Getting itchy fingers.

SHOP losing $80 would be interesting too

Going to buy AAPL tomorrow is tech sells off again. I also think UAA might be a buy finally and as a more aggressive play going to buy more PKSLF.

So much options activity in not just both of these names coming into today, but the other grocers & big box stores like WMT as well. Especially crazy considering today is quad expiration.

Might have to grab some WMT while its on rollback.

HOS bitterness is real

looks like a good opportunity to sell puts in cost, wmt, tgt

Are you still trading it? Is anyone still holding it? Haven't read enough to know if this is a turnaround or just delaying the inevitable failure.

its actually super easy to analyze in a vacuum. HOS equity as an instrument is essentially a long dated option on oil. Either HOS equity is worthless in a couple years or it's worth multiples of where it is today. You just have to assign the upside price possible and the likelihood to figure out if it's worth it today.

What changed with the facility is that previously you had an option to essentially mid 2019 which is about 2 years. With this new facility I think you basically add a year to that option or increase the life by 50%. Same kind of math here as you essentially have a call option.

We were previously only in the debt but initiated a small kicker position at sub $2 for this "option" value.