I’ve been reaching out to my sources and searching my screens, far and wide, inside of The PPT. I cannot find a single stock worth buying. I am 25% cash (I sold my EL position) and eager to invest money. At the top of my list is MRVL and VHC. However, they’re both risky plays and I own enough. I cannot justify buying more of them when my cost basis is below the current trading price.
With the EL numbers, I am leaning towards a small position in SBH, especially since Mrs. Fly thinks it’s “heading to awesomeville.” She’s never wrong on her retail trend trades.
Other than that, I am in hold mode, waiting for something to happen. The great part about this business is something always comes up. There will be an event that will open the doors to opportunity. Sometimes the best trade is doing nothing, which is exactly what I intend on doing today.
28 Responses to Dead End
in MRVL at 11.87..u??
about the same
Curiosity was just hijacked by rogue chinese astronauts… this is gonna get interesting…
Wake me up when there is some action.
Great $EL action SirFly, never easy sitting through earnings.
Mrs. Fly certainly does not talk like that.
5 High Five Super BUY
NVO has major multi year fibo resistance at 156ish, thank you for pointing this stock out..funny how its at that resistance point at the sametime that damn AAPL is back at its 423% ish resistance off the 07/09 move.
Anybody that has known me since 2009 has known I have been obsessed on the SHANGHAI Copper Bubble, now I know why it happened (which was not the case in 2009). Just wanted to share some recent pics http://ftalphaville.ft.com/blog/2012/08/14/1118271/chinas-literally-ground-breaking-copper-inventories/?utm_source=dlvr.it&utm_medium=twitter
For Today, still appears to be just a oil story holding this puppy up. API is expecting another drawdown tonight. Brent Option X on Thursday. Do you notice today the VIX is finally Green…and Tehran Times has a little coverage on possible talks http://www.tehrantimes.com/politics/100587-baghdad-keen-to-host-next-round-of-iran-51-talks-iraqi-envoy
Bonus, check out that $WNR!
According to the last PPT score, we’re neither oversold, nor terribly overbought.
1440 next resistance …. staying long until then.
I’m in also!! Long and hopefully strong.
what about CTRP? –no longer a buy?
Damn, that’s one beautiful downtrend!
I like your previous comments regarding the change in the world with the rise of the smartphone. People that write software that works on a phone will do well, but, except for Angry Birds, I don’t see a real killer app out there.
Is Mrs Fly a Valley Girl?
..just a master of the vernacular
Bleached…I am, like for sure.
EXK? waiting on Q3?
SSW. Giddy up
We bought a little MRVL today. If earnings disappoint, we will be sucking dick!
It’s a win, win!
NVDA may still be a BUY here
Check $AXL – whispers are saying there will be a bunch of buys coming online Thursday/Friday. Provides leverage to the housing recovery and looks good long-term (12-18 months) but I know you can’t hold that long. Institutional activity should provide a nice tailwind to end the week though.