Barring any wild news, Fridays tend to have a little bit of a "sell" posture. My presumption is that a lot of folks are looking to take profit before heading into a weekend, especially those looking to drive down to Atlantic City. With that in mind I was appropriately prepared at the open.

Wall Street's main indexes were poised for a mixed open on Friday after U.S. President Donald Trump said his meeting with Chinese counterpart was still on, while worries over credit risks at regional banks kept investors on edge.

It feels like people are just waiting for a good reason to sell.

My first thought reading this morning was that the only thing keeping the market from selling off today is the belief that the orange bull in the china shop can be convinced to not wreck things.

Personally I was looking for reasons to buy and when I saw that regional bank investors were spooked, I decided to step in and Buy the dip

Regional lender Zions Bancorporation was upgraded at Baird Equity Research to Buy-equivalent after the recent sell-off, citing that the "magnitude is overdone".

I don't typically agree, let alone strongly agree with most analysts but in this case I think the plunge was because people were mistaking Zion and Western Alliance for another Silicon Valley Bank. The only similarity that I can see is that they're all "regional banks" but aside from that, the differences are significant.

Still, never hurts to put a stop order in.

My "goal" yesterday of liquidating some of my CoreWeave (CRWV) positions did not pan out, but the covered calls I rotated today put me in a comfortable position for the next couple weeks.

Log

• As expected with the open there was some selling but then recovery. Allowed me to close an expiring covered call for CRWV and resell something for next week on the upswing.
• One of the banks that holds my money posted really great earnings. I'm not sure how I feel about that.
• Felt like the dive on ZION was unjust and picked up some cheaper shares. We'll see how long I hold these for.
• Cycling some options as opportunity presents itself with CoreWeave (CRWV). They've had some good volatility today. I am optimistic that the US/China news over the weekend may be seen positively by the market next week.

Portfolio