We stopped out of FUBO at 5.40. It has failed to rally even with the market doing quite well and we are below our initial stop level.
We also took profit on our long GS / short XLF trade, exiting GS at 347.11 and rebuying XLF at 38.20, resulting in a net gain of approximately 3%. GS has nicely extended its outperformance this week following its earnings report which showed the strength of its commodity trading. At this point this should be fully priced in so we exit the trade.
Regarding our pick of MARA this week; when it opened on Monday close to the critical support level of 20, we took it to mean that the buyers we were hoping to see were absent. Bitcoin has rallied since the tax deadline, but the miners have gone sideways, which makes us think that their next move will be lower.
Comments