All of the beaten-down stocks in the dumpster, including FEYE LNKD SPLK WDAY YELP, are in play on the long side as savvy bears (in these names, at least, dating back several months) are on a beach somewhere right about now.
I still think these charts have serious issues and that growth stocks have peaked for this bull market.
However, for quick trades they are very much in play on the long side.
Just sold $DDD for a nice profit. Thanks for the great set-up.
Well played, sir.
Chess- agreed. However, yelp has been getting some decent volume since May and seems to be a careful accumulation on the long side by the big guys. charts don’t lie. Your thoughts
Perhaps, Alec. Too early for me to say big-time accumulation in YELP.
Chess, there’s a lot of genius going on in this post. I’ll just leave it at that…. 😉
I’m all ears, Unc. Let’s hear it, brother.
For starters, the juxtaposition, alone, of The Situation & this little Kinky Friedman tune is worth a ‘post of the day nod’. I’ve yet to smoke one of Kinky’s cigars, though…
I knew you’d appreciate that song, Unc. Thanks.
As a long, I’m a lot more cautious now at 1893 (ESM4) , then I was 3 weeks ago ..
just saying 🙂
Bear’s on vaca?!?! MOMO’s are LONG b/c they are the FUTURE. Bears need a vaca with the logic that grandma’s value stock is going to provide some security…
Check out the option activity on STT today; 4,473 puts/ 249 calls – most of puts June.
Thank you!