Brook Reef

Shorting TSLA @ $1,800.00 2% position How do we not short the tulip bulp stocks? It's obscene what J. Powell and Robot Steve have done to financial markets. So I'll get back to the short side of TSLA today and might even hold this stupidity overnight.  Bubbles pop.

Buying BIPC @ $50.20 2% position It's no secret that I'm a big fan of Brookfield and their assortment of publicy-traded entities. Each entity is well-structured, aggressive, and implicitly backstopped by BAM, the parent.  I'm not a huge technical analyst, but when a stock is at technical inflection points, it's worth noting.  In the current/coming recession/depression, hard assets and infrastructure should do well. BIPC is an owner of real, infrastructure assets around the world. BIP is the long-standing entity while BIPC is the C-corp version of the same assets. Just like BEP and BEPC. Brookfield wants investors to be able to own the stocks regardless of their tax situation - even if the partnership structure is usually the most efficient choice. I've never owned BIP or BIPC. I've followed it for a long time and helped advise them on putting together a transaction back in 2010/2011. But I was never allowed to own it during my working career and always had bette...

Sellling GDX @ $42.78 Realized gain of $2.73 (6.82%) A special thanks to Warren Buffett and his disclosure about buying GOLD (Barrick Gold). He's called gold a pet rock over the years, so his disclosure has helped push the price of gold and gold stocks higher today. I'll take the gift and move on with my life. GDX will return to my buy list someday, but I'll sell the pop today. Thanks, Uncle Warren!

Shorting AAPL @ $459.01 2% position I can't resist shorting Apple. It's catnip. And it seems to have stopped going straight up. So I'll short it again today and ride it down, hopefully. Large companies without growth don't trade at 30x+ earnings.

I had too much weekend and got up really late. So today, like Friday, is another day without a Daily Note. I've got a few charts saved and will get them out tomorrow. Looks like another green day for stocks. The biggest news I've seen is Pelosi calling the House back to put out a USPS bill. If you didn't read my healthy little rant on Donald Trump and the Post Office, check it our here: Week Ahead (Trump Rant) Good luck today. Week Ahead: August 17-24, 2020 Week Ahead: August 17-24, 2020

Let's get through the administrative stuff quickly because I have some hot takes on a few news topics. First, market performance: Weekly Market Movement Wrap U.S. Indices Dow  +1.8%  to 27,931. S&P 500  +0.6%  to 3,373. Nasdaq  +0.1%  to 11,019. Russell 2000  +0.3%  to 1,575. CBOE Volatility Index  -0.7%  to 22.05. S&P 500 Sectors Consumer Staples  +0.9% . Utilities  -2.1% . Financials  +1.3% . Telecom  -0.3% . Healthcare  +0.3% . Industrials  +3.1% . Information Technology  +0.1% . Materials  +1.5% . Energy  +2.3% . Consumer Discretionary  +1.6% . World Indices London  +1.%  to 6,090. France  +1.5%  to 4,963. Germany  +1.8%  to 12,901. Japan  +4.3%  to 23,289. China  +0.2%  to 3,360. Hong Kong  +2.7%  to 25,183. India  -0.4%  to 37,877. Commodities and Bonds Crude Oil WTI  +2.5%  to $42.23/bbl. Gold...

Selling SBAC @ $302.29 Realized gain of $4.25 (1.42%) It doesn't look like the price will hold here, so I'm going to sell before it turns into a loss. I'm a happy buyer back below $300 - and if it doesn't fall, then at least I made some  money. Plus, I've still got CCI for tower exposure - and very few people have 2% of their portfolio exposed to towers.