That is, unfortunately, DOWN $51,955 from our May 16th review but we knew that silly gain was not going to stand as everything was a little too perfect and we spent money adding hedges to lock in our gains - which is where we lost most of our money (in the STP) as the market continued to drive higher and, even worse, the rally was led by stocks we don't own - ouch!
Things certainly could have been worse because, while the S&P 500 gained 320 points (6%) in June and the Nasdaq popped 1,743 points (9.4%) it was the narrowest of rallies - as you can see from the 1-month heat map of winners and losers:
That's how narrow this rally was, AAPL 12%, NVDA 46%, AVGO 29%, LLY 15%, QCOM 17%, MU 22%, NFLX 10%, ORCL 17% and COST 10% and who cares about the other 491 stocks, right? Some things went up so much they burned us but this too shall pass and we started last May with $700,000 in our paired Long & Short-Term Portfolios and now we're up $1,251,713 (178%) in a year and a month so another 178% gain from here would be $3,479,762 so - if we can accomplish that by playing conservatively - wouldn't it be foolish to do otherwise?
We raised a lot of CASH!!! in our LTP and that puts us in good position to take advantage of a dip - IF a dip ever comes. If not, we're beginning to put together a new Watch List for our Members - looking at all those red spots on the heat map to find a few bargains that have slipped through the cracks.
We are back to that worrying RSI 70+ zone on the S&P but it lasted a good 3 months before failing last time but 5,500 on SPX seems very premature to me - so we'll wait and see how July earnings turn out:
$700/Month Portfolio Review: We just did this review on the 4th and we were at $26,502. Haven't touched it since and we're at $26,082 (without the new $700) so down a tiny bit in two weeks is a minor fluctuation, almost entirely caused by Shari Redstone turning down the offer for PARA!:
Money Talk Portfolio Review: It has been just about 3 months since we've last adjusted this portfolio so I guess I'm due on the show again soon. The last review was March 26th at $427,611 and now we're at $378,844 (up 278%) - down $48,767 (10%) as our hedges got killed, of course, as well as INTC and especially QCOM, which whipsawed us to a huge unrealized loss as they blew past our targets and we have not yet been able to make the adjustments.
- The short QCOM June $175 calls expire on Friday and we're just going to roll them along to 20 short Sept $200 calls at $34.50 ($69,000), spending net $9,450 to push the short calls up $25 ($50,000) in strike . We have 27 more months to roll - we'll get them eventually!
- The short puts are on the way to expiring worthless but notice the main spread, the 2026 $150/175 bull call spread is 100% in the money and would pay $100,000 over $175 but is currently listed at net $70,000 - so there's a missing $30,000 right there. We will likely make other adjustments on show day but the June roll is the only urgent one.
IN PROGRESS
