Walt Disney Company (DIS)

* I don't yearn or expect another yesterday, today. * Let it be... "Yesterday All my troubles seemed so far away Now it looks as though they're here to stay Oh, I believe in yesterday Suddenly I'm not half the man I used to be There's a shadow hangi...

To succeed in this market requires a bold and unemotional process, a sense of "fair market value," a contrarian flare and nerves of steel. I reduced my long exposure today on an extraordinary, but not unexpected, gap higher in the averages. As I wro...

Rapid trading and investing moves require an emotionless and opportunistic state of mind. * And a willingness to move at the turn of a dime Three weeks ago I wrote in my Diary that you will be seeing much more trading activity from me based on the "...

* The top end of my trading range (2950) has been reached this morning * I have moved down to between small to medium-sized net long With the S&P spot (cash) market now at the top end of my trading range (2950), I have to stick to my discipline and ...

* The bears' skepticism (and cautious market positioning) coupled with their collective cynicism towards medical and scientific innovation, and the inevitability of the curve's flattening along with an "all in" Fed, have fueled the market recovery f...

Disney is now +10% from yesterday's purchase as the market advance continues. Boeing just caught a bid and FedEx (the other purchase from Thursday) is +6% from yesterday morning. Breadth has reversed nicely - 1700/1180 advancers to decliners.

* Most admire Disney's remarkable business franchise * I do, too, but I have always really admired Disney's financial acumen I took a deep dive into the debt deal. $1 billion plus raised at about 1% after tax cost. Plus they cut the dividend to main...

* Making some moves now... I have added to . I am reestablishing long positions in $99.90 and $103.70. I am adding to and .   I covered a small amount of my $303 and $101.30 shorts.

, , and - all recent sales - are very close to or are under my buy levels this morning. I have not yet reestablished these longs - and will await some market stabilization. However, I have increased my holdings.

I am back - it appears the main line water leak is bigger than I thought (so it will be addressed at 7:30 am tomorrow morning). Today's market action seems so-so, with Qs (Nasdaq) over Ss (S&P). I just added to at $220.35. Though new highs expanded,...

* Given my market and economic concerns I am a $90-$95 buyer * If one subscribes to a more optimistic outlook I would buy the shares at current prices ($99) * My 12 month price target is $115-$120 * My intermediate term price target (two years) is $...

* But a buying opportunity may shortly be at hand With the benefit of hindsight, I was very fortunate to have sold my entire large Disney position for a good-sized profit at $111-$112 late last week. The shares are down $3.30 to $97.75 in the after ...

Not surprisingly, Disney missed both the top and bottom line. The Covid-related losses/costs were somewhat higher than I expected -- but not materially so. Subject to any surprising news released during the conference call (beginning shortly), I sus...

I sold out my Disney position late last week at $111.50. The shares were recently trading at $103.48. This morning Rich Greenfield downgrades Disney to sell ($85 target) as leverage could hit 5x as earnings plummet: Downgrading Disney to SELL $85 Ta...

* A further look at Warren Buffett's actions suggests that there are more uncertainties today regarding the trajectory of economic and profit growth than existed in March, 2009 * Stocks may have a short term bias slightly higher (bearsh positioning,...

Thanks for reading my Diary today and all week. It's been a long five days and I am going to sign off early. This has been a difficult period for many and I have tried to unemotionally explain how I am navigating and coping with the markets (and lif...

* As the expanding delta in my large SPY put took me to a too large net short exposure * Let me explain... At 1:30 pm the major indices are basically at their lows with the S&P Index -88 handles. The declines in individual stocks from only yesterday...