Sell Program
At the close tomorrow Visa will be added to the S&P 500. In addition Wells Fargo's weighting will increase due to their share offering. It is also possible that S&P will decide to increase Citigroup's weighting. If these changes occur we will see a $10 billion sell program at the close tomorrow in order to buy these names. I am likely to press my shorts until then. I did not cover a single short today. Have a good night.
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5 comments:
I did not cover anything either. This is probably a sure sign we will trade higher tomorrow.
Good Luck
JD
so you still have spy and bac short? are you going to short more spy? how will you decide when to do it?
I am still short BAC and SPY. The next step will be to cover some shorts and move back to a neutral position. If we get a down day tomorrow I will likely do so at the end of the day.
S&P due to open 6-8 points higher. Would you short more given your conviction about the sell program? What factors may negate your theory?
I am not looking to short more. The sell program will happen. Maybethere will be enough buying during the day to overcome it but the sell program will happen.
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