Sunday, May 29, 2016
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,862 Blog Posts

Trading in a Social World

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Overall, social stocks like FB YELP still rule, as bears have been unable to make even a small dent in them. While ANGI LNKD and a minor TWTR fade today may get bears excited, until Facebook cracks it is hard to see how they can cheer too much.

I am flat on the social stocks, though, unless you count my Google short which has not yet triggered a breakdown nor has stopped me out (over $1,200 would do that).

I have a few longs on as well, like SKUL.

This afternoon, I am simply looking to see how we close. The tape has that 2013 feel of another V-shape to fresh, all-time highs on the indices. However, it will always have that feel even if this is just a snapback rally before we roll over, due to the one-way tape we saw condition traders last year.

Keep an eye on the baby transport plays: ARII GBX TRN as long ideas into the bell.

 

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6 comments

  1. David Langner

    Chess: Are you a jazz fan? I’ve played music my entire life and have always loved this Mingus LP.

  2. David Langner

    Nice! Listening to Woody Shaw at the moment.

  3. Rob T

    Inspired me to throw on some Miles Davis “In a Silent Way”