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The last couple weeks we have traded the long side in selected stocks. Boeing and Upstart have performed well. Last week’s added position in PayPal has not yet shown any strength. I still think the latter is a stock that has moved from weak hands to strong hands at these levels of 77.30 in PayPal — 90 cents under my 78.20 entry last week. In context of the general market, we are in for months of sloppy back and forth. The current upleg still has a little upside it looks like to me. I will be paring longs into further strength, and that includes PayPal whether it rallies or not. As I said last week, it’s not a market to overstay. If you see a decent profit take it, if things aren’t working out, cut it out. 

On the short side I think MGM could have a little more upside and if it crawls a bit higher we can evaluate for a short this week. Similar to DELL, which is close to setting up another short trigger. On the long side Draft Kings has earnings next week and the stock looks constructive.  

Thanks,

Joe