Early and Wrong

So that BBBY call was smooooth.

I had so many trades go well in row that confidence got a bit high & I traded into BBBY after hours yesterday.¬† I made sure the position size was small to where I could lean into it more if it slid further & wouldn’t have a massive loss even if it kept sliding.

And keep sliding it did!

Over 40% of the stock’s shares have traded hands today. There has been a bit of a bounce & I bought a few more shares and sold them off to recover part of the miss from last night.

My guess with tomorrow closing out the quarter is that almost nobody will want to be showing they are holding BBBY, so whatever dead cat bounce there is tomorrow will likely fade into close.

Quarter end window dressing likely had some people crowding into FANG & some momentum stocks which were hot earlier this year like FUNKO. With the Fed unanimously voting to raise rates & committing to doing another raise this year some of the money that went into value plays has rotated back into tech.

Tesla will make the quarter end interesting as the SEC just sued Elon Musk over his “funding secured” Tweet.

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