I gather you will be drinking from tiny piccolo bottles of wine this weekend, in order to celebrate the week that past. So you know, “The Fly” will be guzzling from melchior sized (30 litres) jugs of ambrosia, with a chest full of pride for the gains that have been taken. As told to you before, 2012 will be the year of “The Fly”, with nothing but joyous occasions and perverse stock market gains in store.
We all know the market has to pull back. It’s not a question of if but when. Please refrain from throwing yourselves into lit fireplaces when this occurs. It is 100% natural and welcomed by true market participants. In this market there are three types of players: the degenerate day traders, speculators, and finally, big dicked investors. The short term moves are dictated by degenerates and soft nosed speculators. But over the long term, both degenerates and speculators alike fall under the auspices of fundamentally minded investors. Meaning: eventually, the chart chompers get tossed into open manholes and the people who know how to read a balance sheets sit on thrones, drinking from chalices made from diamonds and rubies.
If you find yourself getting whipsawed by the market, perhaps it’s time for a change in philosophy, no? Maybe it’s time for you to consider dollar cost averaging into a core group of stocks, in order to moderate your frenetic mannerisms. Trading in and out is not for everyone and if this is not your primary occupation; dare I say, without the explicit help from seasoned veterans, you are climbing a hill that is slippery, treacherous, and nearly impossible to conquer for the average pleb.
Natural gas is going to zero and people don’t wear shoes when the weather is warm. BP went out of business after the gulf oil spill and CCL will never float a boat again. NFLX was going out of business and now they are rising from the dead. When looking at things through the narrow scope of a short term trader, fatalism reigns supreme. Stick to what you know and avoid jumping to conclusions.
As for me, I will look for new opportunities, but keep my cash levels above 20%. I find it hard to hedge in a market that has upward momentum–which is why I sold TZA yesterday. I’ve been through the craziest markets, managing money professionally since 1997. It never gets easy, but it does get familiar.
Top picks: DECK, FSLR, MWW, SODA
[youtube:http://www.youtube.com/watch?v=jY6b1DdSCwk&feature=related 603 500]
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All of my Samurai Seven are at important levels as well, and I’m especially hanging in there with the 2 PM picks, due to the dollar.
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WNR?? not a top pick???…my wnr now flaccid
waiting for pullback
I will buy more when you jump in…azzzzzz deep already…waiting for it to rip tits!!!
Take a look at ANR, I smell a reversal coming, loading the boat >20
fly let us know when you’ve broken the 1 billion mark.
“people who know how to read balance sheets sit on thrones” – there could not be a truer sentence. Understanding the intricacies of the balance sheet and how it relates to cash flow is crucial.
Cant wait till Apple becomes Googled next week
DMND?
no ANR
If GOOG can start to gap fill, then I think our pullback will not be today.
avoid crap stocks
“….drinking from chalices made from diamonds and rubies.”
Diamonds, mmmm ok. But you forgot to put the ‘no homo’ qualifier after the word ‘rubies’ lol
30 liter jugs………more like 48 DD’s 🙂
I imagine it was already assumed by all of you, having grown accustomed to my dialect.
You sold TZA?? I bought TZA as my signal hit bulls-eye yesterday and is confirming today, for a position add. Normally your PPT and my own match up. I can’t find anyone starting a short position here, as there are a variety of chart theories banging around the internet, and I don’t understand chart logic over algorithms. As always, enjoy your writing and lately it has been excellent.
BX
PPT still points to TZA buy. However, I opted to stop out because nothing, even PPT, is full proof. As good as PPT program buying is, there have been instances where drawdown reached 30%. I have no interest in pushing the envelope.
SHLD another to rise from the dead.
“the people who know how to read a balance sheets”
Class obviously has fuck all to do with breeding and education (and the ability to write properly)