A diary of the thought process behind my investment decisions
I Done Messed Up
It looks like I made a mistake by moving away from my net short position. The reaction to the news is more important than the actual news. In that context the inability of the market to rally in the face of good news is bearish. Last night when the futures barely budged on Apple's tremendous beat, that was a clue that there was alot of supply and few buyers left. I remain long pharma and short SPY.