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Out of My TLT Short, Raising My Nasdaq Short Exposure



Originally published June 29 at 9:44 a.m. EST

Given the dramatic rise in bond yields since Monday, I have exited my iShares 20+ Year Treasury Bond (TLT) - Get Report short. I hopefully will short any strength after this week's schmeissing.





Also, I am raising my short Nasdaq exposure, as I did late yesterday.

TLT is down about $1.30 this morning.



The yield on the 10-year is now up seven basis points to 2.30% (it was 2.13% on Monday) and the long bond yield is up a similar amount to 2.84%.



I am maintaining TLT on my Best Ideas List as a short.

See my Amazon (AMZN) - Get Report post from earlier this morning.

Position: Long SQQQ, short QQQ .

Is Peak Amazon Here?

Originally published June 29 at 9:07 a.m. EST

This week in " Potholes Ahead for (T)FAANG" I wrote some cautionary comments.

That said, a technical heads-up:

The Amazon (AMZN) - Get Report chart has completely changed character since the Whole Foods WFM proposed takeover came into the picture, which I assume also includes a few days before the actual announcement -- as we all know, leaks are among Wall Street's main products.

The shares of (AMZN) - Get Report appear to have been under distribution; some big "open and selloff days" and the few green days are pauses.

No power.

Consider, as I just discussed on Bloomberg with Tom Keene, that this deal, with its political and regulatory implications,) may have been the thing that finally turned people sour on this high-multiple growth story.

Stay tuned.

Position: None.

Action Alerts PLUS, which Cramer manages as a charitable trust, has no positions in the stocks mentioned.

