Skip to content
Stouff Capital |
  • Trades
    • Trade Recap
    • Trade Recap 2023
    • Trade Recap 2022
    • Trade Recap 2021
    • Trade recap 2020
    • Trade recap 2019
    • Trade recap 2018
  • Research
    • Letters in 2021, 2022, 2023 & 2024
    • 2020 letters
    • 2019 Dec & Nov letters
      • 2019 Review
      • previous letters (Nov 2019 to May 2018))
        • October letters
        • September letters
        • August letter(s)
        • July letters
        • June letters
        • April letters
        • Stouff letters March 2019
        • Stouff letters Feb 2019
        • Stouff letters January 2019
        • Dec 2018
          • Nov18
          • Oct18
          • Sept18
          • Stouff letters in August
          • 2019 Brokers views
          • bullish EEM
    • quantitative research
      • Macroscopic
        • Economics
        • Liquidity in US
        • Liquidity China
        • Social politics
          • Trade Wars
          • Itexit
          • Us politics
          • Brexit
          • French ‘Yellow Vest’ Protests
          • CoronaVirus
        • FX
        • Equity Flows
        • Commodities
        • The Fed has reinitiated the Put Fed
        • The ECB
      • The Char(t)atans
        • Europe
        • Charts EM
        • Charts japan
        • Technical Analysis
          • SIGNALS
      • Themes & sectors
        • energy
        • Finance
        • Health-care
        • Homebuilders
        • materials
        • Technology
        • US Staples
        • Disruptors names
        • Holdings
          • Adsk
          • Avgo
        • names dropping
        • M&A lists
      • ESG
        • ESG letter Feb 2020
        • ESG ETFs analysis
        • ESG & Women lists
        • ESG SC PORTFOLIO
        • ESG REPORTS [NLP]
      • BACKTESTS
        • Earnings lab
          • Analyst ratings analysis
          • Analysts impact
          • Earnings EU
        • lab AP
        • Seasonality
          • DAY Studies
          • Moon
        • Hedge funds
        • IA
        • Volatility
        • Positioning
        • Insider quant
        • sentiment
          • Crash anatomy
        • Backtest citi earnings revision indicator
        • Market regime
      • Factors and risk premia
        • Value
        • Mean reversion
        • Dividend
        • Small caps
        • Momentum
        • Short Interest
        • Industry rank
  • Portfolio
    • US Longs
      • performance
    • US low vol best EPS
      • performance
    • SC US IPO list
    • US Shorts
    • European Longs
      • performance
    • EU Shorts
    • EU low vol best EPS
      • performance
    • SC Asia longs – includes some EM equities
    • Japan portfolio
    • U2 European portfolio
    • SC Portfolios Tableau
    • EM ex Asia Longs
    • SC PlaYing China
  • Factory
    • Stock score
      • chart
      • EPS growth decomposed
      • Eps reaction
    • Tableau global grades
      • fractal 091120
      • Past earnings
      • Coming earnings
      • UP EPS SS MF
      • Tableau Short(s)
      • Tableau Vol
      • Tableau grades
        • tableau slowdown
        • tableau recovery
        • tableau contraction
        • Momentum
    • Global Grades Scatter
      • Grades Dynamics Screen
      • Options Trade Screen
      • Screens
        • Screen all stocks
        • Best stocks per sector
        • Sector & Ind.
        • Industry
        • stock regression
        • regression 1mth chge
        • regression 2nd derivative
        • value vs growth
        • Map
    • Cheap & growing
    • Best in class
    • Tax
    • Fractals 2024
    • Fractal Omicron
    • fractal 20211208
    • worst in class
    • Perfect Grades Screen
    • Perfect Short Grades Screen
  • Crypto
    • Blog crypto
    • Singularity project
  • Macro
    • Real-time letter
    • Macro Trades 2022
    • Macro Charts
    • Letter Macro – March 2022
    • Macro Letter – Feb 22
  • Stouff Capital at a glance
    • Our approach
    • Matrix
      • US Sector Matrix
      • EU Sector Matrix
      • Japan Matrix
      • Asia Sector Matrix
      • FX Matrix
    • Stocks selection
    • We are long convexity
    • Our products
      • The Urizen Fund
        • Carnet de bord
        • Analytics
          • Performance Nov 2018
          • Performance Dec 2018
        • Positions vs grades
        • Book vs SC portfolios
      • Press
      • Urizen letters
      • Global equity Long products
      • Singularity project
      • Disclaimer
      • MLAI
      • Contact
        • Books and arts
Menu Close
  • Trades
    • Trade Recap
    • Trade Recap 2023
    • Trade Recap 2022
    • Trade Recap 2021
    • Trade recap 2020
    • Trade recap 2019
    • Trade recap 2018
  • Research
    • Letters in 2021, 2022, 2023 & 2024
    • 2020 letters
    • 2019 Dec & Nov letters
      • 2019 Review
      • previous letters (Nov 2019 to May 2018))
        • October letters
        • September letters
        • August letter(s)
        • July letters
        • June letters
        • April letters
        • Stouff letters March 2019
        • Stouff letters Feb 2019
        • Stouff letters January 2019
        • Dec 2018
          • Nov18
          • Oct18
          • Sept18
          • Stouff letters in August
          • 2019 Brokers views
          • bullish EEM
    • quantitative research
      • Macroscopic
        • Economics
        • Liquidity in US
        • Liquidity China
        • Social politics
          • Trade Wars
          • Itexit
          • Us politics
          • Brexit
          • French ‘Yellow Vest’ Protests
          • CoronaVirus
        • FX
        • Equity Flows
        • Commodities
        • The Fed has reinitiated the Put Fed
        • The ECB
      • The Char(t)atans
        • Europe
        • Charts EM
        • Charts japan
        • Technical Analysis
          • SIGNALS
      • Themes & sectors
        • energy
        • Finance
        • Health-care
        • Homebuilders
        • materials
        • Technology
        • US Staples
        • Disruptors names
        • Holdings
          • Adsk
          • Avgo
        • names dropping
        • M&A lists
      • ESG
        • ESG letter Feb 2020
        • ESG ETFs analysis
        • ESG & Women lists
        • ESG SC PORTFOLIO
        • ESG REPORTS [NLP]
      • BACKTESTS
        • Earnings lab
          • Analyst ratings analysis
          • Analysts impact
          • Earnings EU
        • lab AP
        • Seasonality
          • DAY Studies
          • Moon
        • Hedge funds
        • IA
        • Volatility
        • Positioning
        • Insider quant
        • sentiment
          • Crash anatomy
        • Backtest citi earnings revision indicator
        • Market regime
      • Factors and risk premia
        • Value
        • Mean reversion
        • Dividend
        • Small caps
        • Momentum
        • Short Interest
        • Industry rank
  • Portfolio
    • US Longs
      • performance
    • US low vol best EPS
      • performance
    • SC US IPO list
    • US Shorts
    • European Longs
      • performance
    • EU Shorts
    • EU low vol best EPS
      • performance
    • SC Asia longs – includes some EM equities
    • Japan portfolio
    • U2 European portfolio
    • SC Portfolios Tableau
    • EM ex Asia Longs
    • SC PlaYing China
  • Factory
    • Stock score
      • chart
      • EPS growth decomposed
      • Eps reaction
    • Tableau global grades
      • fractal 091120
      • Past earnings
      • Coming earnings
      • UP EPS SS MF
      • Tableau Short(s)
      • Tableau Vol
      • Tableau grades
        • tableau slowdown
        • tableau recovery
        • tableau contraction
        • Momentum
    • Global Grades Scatter
      • Grades Dynamics Screen
      • Options Trade Screen
      • Screens
        • Screen all stocks
        • Best stocks per sector
        • Sector & Ind.
        • Industry
        • stock regression
        • regression 1mth chge
        • regression 2nd derivative
        • value vs growth
        • Map
    • Cheap & growing
    • Best in class
    • Tax
    • Fractals 2024
    • Fractal Omicron
    • fractal 20211208
    • worst in class
    • Perfect Grades Screen
    • Perfect Short Grades Screen
  • Crypto
    • Blog crypto
    • Singularity project
  • Macro
    • Real-time letter
    • Macro Trades 2022
    • Macro Charts
    • Letter Macro – March 2022
    • Macro Letter – Feb 22
  • Stouff Capital at a glance
    • Our approach
    • Matrix
      • US Sector Matrix
      • EU Sector Matrix
      • Japan Matrix
      • Asia Sector Matrix
      • FX Matrix
    • Stocks selection
    • We are long convexity
    • Our products
      • The Urizen Fund
        • Carnet de bord
        • Analytics
          • Performance Nov 2018
          • Performance Dec 2018
        • Positions vs grades
        • Book vs SC portfolios
      • Press
      • Urizen letters
      • Global equity Long products
      • Singularity project
      • Disclaimer
      • MLAI
      • Contact
        • Books and arts

Short Defensives

We are shorting defensives and the SMI is the proxy for defensives

1- Short SMI for 8600

2- Short XLU for 51

3- short XLP for 53.8

You Might Also Like

Buy call on URI & NUE

October 17, 2018

Buy GDX below 19.1 for a target at 22.15 (dovish Powell bearish dollar and bullish gold)

August 24, 2018

We close our short DAX (and keep open long call) and buy TKA GY

August 16, 2018

Recent Posts

  • Buy Put on Tesla and Apple
  • buy downside convexity on DAX
  • Buy Germany
  • Update on our US hedges
  • Short Japan
info @ stouffcapital.com