Republic Risk: Why We Don't Short

We're not in the business of other people's misery. The markets are squeezing today on Third Friday. Let's celebrate new highs... especially with ASC and TK rallying.

Dear Fellow Expat:

A short note - the market is squeezing higher today and pushing to all-time highs. The S&P 500 is back in the Green, while the Russell 2000 is still Red. We must be cautious as this short-term pop can lead to more selling.

The S&P 500 is distorted by stocks like Apple (AAPL), Microsoft (MSFT), and NVIDIA (NVDA). The top 10 stocks are healthy due to crowding behavior - while the rest of the market is under pressure.

Teekay Tankers (TK) is up 16% to start the year, and Ardmo

re Shipping (ASC) is up 9%. And PBF Energy (PBF) just had a $54 million bid from Carlos Slim. We’d love it if Village Supermarket (VLGEA) could also get some support.

We don’t short for reasons like today. As I warned this morning, the market is squeezing due to Options Expiration. We want positive conditions so we can make a series of great trades.

And we’ll be introducing them - Florida Republic Style - next week.

Stay positive,

Garret