Bookkeeping: Short Allegiant Travel (ALGT)

Allegiant Travel (ALGT) is at a make or break spot on its chart, yesterday we sold about half our stake, and I am going to go net short on the name today balancing the 1% long with a 2.5% short. If the stock breaks north, I'll cover the short and just be net long....

I'll have a pretty tight stop loss on the short side, with a stop out just over $40. If we can get back below $35 I'd be pleased for the short side of the stick.

Going on my theory that the market gets "marked up" in days 2-4 before quarter end but not in the exact last day because the SEC actually pretends to monitor the market that day, everything is going according to plan - Thursday, Friday, Monday rally. If it plays out perfectly today would be a down day as there is no artificial support in the market. We'll see.

I've added some index short exposure, along with bets against 'reflation' this morning via ETFs

edit 10:40 AM Another idea - short Perfect World (PWRD) (one of the untouchables!) to that gap at $27. I currently have a limit buy order at that price... those more agile could short til that hole in the chart than flip long when and if.


Long/Short Allegiant Travel in fund; no personal position