Brook Reef

Happy Thanksgiving. Life has been crazy. Updates to come. 

Janet Yellen is Biden's pick to lead the Treasury? Oh, dovish world... No time for a real note this morning. Life is accelerating right now. I made a few trades yesterday - will write summary when time permits. Likely no live trades shared today either.  Will report back tomorrow. Good luck out there.

Futures are up on vaccine distribution hopes - specifically that the vaccine will be distributed much faster than initially expected. We might need that speed with so many people traveling over the weekend ahead of Thanksgiving...and the virus potentially spreading even more out of control. I'll try to navigate all of this while trading profitably again this week.  __________________________ 1) What could possibly go wrong? - short interest is crashing... 2) Are real estate leases slowing because of covid and is it temporary or permanent? 3) Pay policy and location choice: __________________________ I'm hunting this morning for my first trades and also looking for a few puts to sell. I'd love a few ideas. Finding decent trade setups isn't too hard - it's finding puts that's a bit harder these days. LONG BOOK SHORT BOOK Ticker Cost Basis Size Ticker Cost Basis Size AY 30.21 2% DUK 88.04 2% AMT 241.36 2% CCI 166.54 2% AGR 48.72 4% CMS 63.12 1% PCG 12.26 1% QQQ $29...

Today is the big monthly expiration of options, I believe. So there could be some squirreliness at the close as big funds push stocks and the market to ensure their options expire where they want them to. Sometimes. So be careful as we approach the close. Always important on Fridays - especially Fridays with big expirations. I've had a pretty good week. I made 8.5bps on Monday, 1 on Tuesday, 52 Wednesday, and 13.5 yesterday. That's a total of 75 basis points! Throw in my ED & SO shorts - 11bps more. My puts on SONO, TGT, & NTES - another 6bps.  So I'm up 91 basis points, 0.91%, on the week. Locked-in. My long positions on CMS and PCG that I put on this week, along with the other longer-term positions haven't quite added to the gains. But investments like that don't have to work right away. Trades do. And being up 91 basis points on the week means I don't need to do much today to ensure a good week. I just have to avoid losses. So I'll trade small thi...

I made 52 basis points day trading yesterday using 30% of my capital. That's a KILLER day! In all reality, I should have made more because I should have used more capital on the PCG trade. When a company you know well shows a trading signal that fits your criteria - and you know why it's up - that's a great time to make a huge bet. On Tuesday, I made 1 basis point and on Monday, I made 8-9 basis points. So I'm up about 60+ basis points on the week by recycling my money, trading just 20%, and being only just 20% gross invested. The market can go up or down overnight, and I won't be hurt. It's almost a cheat code. It looks like I could have held my NTES puts and made more money, but that's ok. I closed them yesterday with the stock lookin weak and the cushion between my strike and the spot price not large enough. SONO had a blowout quarter and shares are flying - so that put trade will be closed and highly profitable this morning. I've got just 20% of capi...

Donald Trump still uses whatever power he has to stop the various agencies from certifying the election results and therefore hurting Biden's access to information as he build his team and attempts to navigate a seamless transition of power in January. Biden has been forced to reach out to recently retired folks who are mostly up to speed but don't have to abide by any legal obligations to avoid contact. It's a goofy situation. Especially considering Biden's margin of victory in the key states is something like 3-5x. I need to stop being surprised by Donald Trump... Futures are up this morning, duh. The Pfizer vaccine is 95% effective, not 90% like originally thought. That's obviously wonderful! ____________________________ 1) The housing market continues to boom. 2) The technicals of the stock market are looking pretty strong, even internally. 3) Interesting chart on vaccine effectiveness. ____________________________ I used my day trading power yesterday to execut...