If we don’t get a flush out in stocks, take the month of August off. There is no reason to get long ahead of the Fed meeting, while Spanish and Italian yields are so high and US treasuries are so low. The bond market will let you know when it’s time to buy stocks.
Watch TLT closely and avoid any and all earnings plays, unless you have an edge. You know I love YELP and feel they should smash earnings. However, in light of the recent debacles in social media earnings calls, I have no interest in rolling the dice here. The stock is more than $5 below my sale price, but is still unattractive due to social media multiple compression.
What does that mean?
Well, this sector is literally the worst sector in the market, even worse than coal. Investors aren’t willing to pay up for these stocks. Therefore, PE and P/S ratios are coming the fuck lower, in a seamless, uninterrupted, manner. As sure as I am sitting here in this luxurious Bo Concept chair, the social media space will eventually bottom out and offer spectacular returns to patient investors, but not yet.
Moving on, I still like LNN and EXK here, but should have sold EXK when The PPT flagged it as “overbought” the other day. Nevertheless, both stocks should trend higher over the next 3 months.
Howsoever, based upon the untenable laws of mathematics, my favourite pick here is VXX.
27 Responses to This is Easy
I,Nymph and my sidekick the US Dollar are putting our battlegear on to go Mortal Kombat once more on the Clams of the World. They are weak now and I should be holding their spines in my hand by Thursday.
I was wondering why you didn’t sell on the OB in EXK but figured you had your reasons.
Because I bought VXX
Fly, thoughts on this…contrarian indicator? or..
I am befuddled by this levitation of the ekity markets…prob will last about one day longer than i will.
Fucking social stocks. Better off just putting all my $ into $AAPL and forgetting about this damn market.
aapl is still green…growing and ripening…get in get on the train to 700
if you’re buy AAPL here you’re buying at a resistance level and it will most likely be going down
You’d be better advised to either short or wait to see if it clears 615-619 resistance levels
holding from 565
I tried saying something in the PPT but you did say and I quote…
“I don’t appreciate any form of financial advice.”
The PPT just damn near is 100% with nailing the short term swings.
So are you selling Fly? Still pretty long as of right now right?
Not selling, but also not buying.
30% cash, 10% VXX
Yeah but KNDI is up!
Innarestin’ that TLT has reversed.
Fly going euro with the Danish chair?
Can we please see some death and destruction. Sick of waiting around and watching the market stagnate like a old dying whore.
Fuck cant take it anymore.
what about GMCR?? down 60% this year..arent people still using the Keurig and buying the K cups??? earnings tomorrow ..
no way never?? or no way til they provebusiness is picking up??
This market is horse shit.
Over the past year – this market has done best when the price of oil is rising.
Spring rally Brent 105->128
June-July rally Brent 90->105
Not sure that is actionable intelligence….just interesting
Wish me luck…
May the odds be ever in your favor
Mr. Republicat please report to my office…