Citigroup Stock (C)

Despite pleas of broadening out, the equity market is teetering on a disbroadening.Here were yesterday’s stats: * $SPY -0.29% * $QQQ +0.27% * $IWM -0.89% * $RSP -1.22% To me, key to the broadening-out thesis would be continued strength in financials, which was nowhere to be found: * $JPM -$8 * $C – $3 …

* And fading it… I don’t own and am currently short (and have been recently short C, JPM, GS, MS, UBER, NFLX, homebuilders, etc.) some of the most consensus sectors. I am long some of the most non-consensus sectors. Consensus Longs: * Memory: SanDisk ($SNDK), Micron ($MU), Intel ($INTC), AMD ($AMD), Applied Materials ($AMAT) (“it’s different …

I have covered my C ($C) $138.88 (-$2) and JPM ($JPM) $333.95 (-$5) shorts for a small profit this morning. I plan to reshort on any strength. Positions: None.

* Trading opportunistically and dispassionately… Yesterday, among other activity, we added to shorts in $GRNY, $C and $JPM. I remain bearish. Today’s ceasefire news will likely provide an opportunity to cover some shorts — something I like to do in a “newsy” backdrop. I would anticipate reshorting the inevitable rallies than have followed a breakdown …

In the premarket gaps/markups I shorted more C ($C) $145.01 and JPM ($JPM) $340.44 (both had price targets raised by UBS: C $150, JPM $384). Adding to GRNY ($GRNY) and JOET ($JOET) shorts Buying MSOS ($MSOS) more aggressively. And individual names. Positions: Long MSOS L; Short GRNY M JOET S C M JPM M