Adding Another Short - $GE

$GE

The reality of the environment as of this moment is that it’s more opportunistic for shorts than longs. That might not last long, but it’s how the cards lay on the table at this moment.

Yesterday’s post was on XLC 0.00%↑ (https://732charts.substack.com/p/making-a-mean-reversion-trade-in )

Today it’s $GE.

GE 0.00%↑ is up over 70% ytd, and just looks stretched. Here in the short term, the stock is below its 5 and 20 day MA’s, as well as its AVWAP from the 52 week high that was achieved on 7/25 following earnings.

I’m holding this one short below that AVWAP. Plays such as these help me balance out, if only for a short period of time, the decline in other long positions within the portfolio.