After booking some nice gains in the S&P UltraLong ETF (SSO) early this morning, I essentially waited out the market for the rest of the day. Towards the end, as the market was rallying into the close, I used the opportunity to load up on two new short positions the S&P ETF (SPY) and National Instruments (NATI).
The premise for both of these trades is that the gains we saw today were merely from the market being due for a dead-cat bounce. Now we could get additional follow-through tomorrow as well, at which point, I will look to add more positions to my portfolio - one stock in particular that I have in mind is ENI S.P.A (E).
SHORT: SPDR S&P 500 (SPY)
Click Here For The Chart on NATI.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
