Trades

I made some big moves today.

Bought TBT at 71.39. This reverses my holding of bonds, with a huge supply of Treasuries coming online, government borrowing headed through the roof, and the soon end of China/OPEC printing for Treasury.

Short GGP at 29.77. General Growth Properties is a commercial real estate REIT that is overloaded with shopping malls. When Starbucks pulls out of your mall, you know retail space is in trouble.

Short more COF at 42.05. Should've covered at $32, last week. Be that as it may, this is a no-brainer. Credit card write-offs are going to the moon. Houston, we have lift-off!

Short ANF at 60.29. Abercrombie & Fitch is going to get slammed at back-to-school sales and Christmas this year. They directly appeal to the shop-til-you-drop buy-stuff-just-to-be-cool young adult crowd. At half the market cap value as Gap, ANF is also too big for its britches.

Oil dropped a few bucks again today. I'm waiting for a bounceback for that move.