We're Exiting These Market-Hedging Holdings
Here's what's prompting us to sell these positions now.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
PSQ | Sell | 1,430 | 38 | 0 | 0 |
SH | Sell | 1,250 | 43.25 | 0 | 0 |
After you receive this Alert, we will make the following trades:
- Sell all 1,430 shares of the ProShares Short QQQ ETF PSQ at or near $38. This will close out the Pro Portfolio’s position, which returned ~2%.
- Sell all 1,250 shares of the ProShares Short S&P500 ETF SH at or near $43.25. This will close out the Pro Portfolio’s position, which returned ~3%.
With reports indicating President Trump will announce a limited trade agreement with the U.K. and rescind some Biden-era AI chip curbs as part of a broader effort to revise global semiconductor trade restrictions, we will exit the Pro Portfolio’s inverse ETF positions when the market opens.
Because full trade deals tend to take a long time to negotiate and enact, we are expecting more headlines than details today but suspect this could be the framework for trade deals with other countries and set the tone for this weekend’s initial negotiations with China.
Members should note that closing out these positions will lift the Pro Portfolio’s cash pile to just under 16% of its assets, for now.
With the outcome of the Fed’s May policy meeting matching our expectations, the next hurdle will be the pivot to retail earnings and the supply chain impact of sharp declines in port and air freight traffic. Noting that hurdle, we will be working on updating our shopping list, something we will likely share as we refresh panic points for all the Pro Portfolio’s positions, as well as their consensus EPS expectations. We expect to have that in your hands as we bedin next week. We will also be on the hunt for new Bullpen candidates.
Coming up, we’ll have comments on quarterly results last night from Axon AXON and Dutch Bros BROS, but first, you’re likely to catch Chris before the market open on the Schwab Network or FinTech TV. And soon after the market open, he’ll be on NYSE TV.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long PSQ and SH.
