Short Repsol
This trade goes against our recent contrarian long in crude oil. Repsol earnings momentum has decelerated, while the share price has outperformed its peers and the market. Its valuation is not cheap anymore. We add the…
short ESZ8
Since our purchase last week, the S&P500 has rebounded by 150 points. Following our pattern (2016 and feb2018), the upside should be limited: we sell half here and another half at 2850.
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
take profit on tencent
We fade the fake news "trade deal on china" by closing our long on tencent at 301
Stopped on short Air France (AF FP)
Automatically selling stocks with France in their name does not work anymore ... Game changing and we take notice...
close our 2nd short on S&P500
After having closed our first short on the S&P500 last week at 2715, we close our second leg as the S&P500 has reached a strong support at 2600. 2600 corresponds more or less exactly to Jan-Feb…