I talk about long-term investment ideas on this blog more so in broad terms because my long-term portfolio is one of several portfolios I keep separate from my 12631 portfolio.
With that in mind, if you have been following along with my WWE idea which i introduced back in August 2012 in this blog post in real-time, I sold the remainder of my long-term investment in the name today.
The stock has done way too much, way too soon.
And now everyone loves it, with call buyers acting like Los Angeles Lakers fans near the Staples Center armed with buckets of gasoline and tons of cars at their disposal to light on fire after winning the NBA Finals.
Technically, the monthly chart is way too steep, and the zoomed-out daily chart below is showing signs of extreme exhaustion today. The time to get in was when I posted that top shelf Paolo Conte music video (of which reader and resident castigator “alf44” approved), not when everyone in the financials news media is telling you that WWE is the wave of the future.
Come on, now, you did not really believe that the Chess Master was a fan of fake wrestling, with grown men in leotards did you?
Sold to you, sir.
Over the weekend, consider joining our 12631 Trading Service, which @RaginCajun and I direct. I can assure you that a membership to 12631 is well worth its price over the long run.
The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.
Also, be sure to catch my next Weekly Strategy Session.
Please click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.
See you there.
Have a great weekend!
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Chess, I blindly hated the company, and sat on the sidelines in amazement as you played this one like Raul’s fiddle. It was a joy to see this develop for you in real time. Well done, my friend!!!
Thank you, Unc. Have a great weekend.
Can I dare to ask your long term portfolio list.
I follow all ur blog posts, How do I know if its a swing or long trade..I really like ur thinking process.
rekha: Long-term investment ideas are specifically noted. Again, I am giving them out more in general terms. Short-term trades are in 12631.
crushing victory!
Cheers, mateo.
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…ahh hem …resident castigator ???
BTW … John “Dr. J” Najarian has been yappin’ about WWE the last few days and is apparently LONG.
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… on another note, ARTX is UP over 100% in the last 9 trading days !
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… resident castigator … REALLY ???
MAN !
That’s harsh !!!
😥
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added to VNM on weekly breakout test.
Nice win, Chess.
May you ‘Rumble’ on into the weekend..
😉
Mad Jelly of your Huge Ackman gains!
Lotsapussy for you Chess.