Hi Antagonist members,
Stocks had a fantastic week. That’s great news for our Blend Portfolio holdings (our copper positions are doing especially well).
But it also meant bad news for the short SPY, DIA, and QQQ positions that we held in our Challenge Portfolio. Unfortunately, all those trades expired out of the money today.
From a strategy perspective, if you’re not taking advantage of both the Challenge and Blend portfolios, I highly recommend doing so. The portfolios complement each other and provide excellent hedges against market risk. For example, the gains in our Blend stocks this week more than offset the losses in our short-term trades.
Implementing my S&P 500 plan
In the June monthly deep dive, I explained how I intended to short the S&P 500 if it reached 4,350. The index soared past that level this week, so I started implementing my plan today.
Of course, there is a chance that the S&P 500 continues to rally from here. Therefore, I’m starting with a small trade. I will likely add to the position in the next week or two, but I want to give the market some more time before I do that.
Here are the details of my trade:
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