I've been traveling, so I missed out on a lot of the action - and I've paid for it. The Financials have gotten killed over the past two days, although they did make a slight rally in anticipation of JP Morgan's earnings tomorrow AM. I did make a couple of trades - bought NFLX and dumped it (at a loss today) for a position in Bank of America. I also went long Citigroup today before JPM's earnings. Both BAC and C are the best positioned to benefit from a strong performance which I fully expect from Mr. Dimon. Also, the markets are expecting strong Citi earnings on Friday, so there's potentially another bite of the apple we can take if JPM disappoints. We'll see.
While I'm counting on a rally, I dumped a portion of my Morgan Stanley position at a loss to reduce some exposure in that name. Their commercial real estate exposure scares me.
Since April 6:- Today's Portfolio Move: + $466
- Total Unrealized Gain/Loss: - $1,350
- Total Realized Gain/Loss: + $1,856
- TOTAL NET: + $506
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