Even though I am cautious ahead of “The Hole,” I still believe this is a long only market. I’ve said that on several occasions. If you insist on having shorts, pair them with longs to accomplish neutrality.
With the market running again, despite my defensive nature, I’ve managed to gain nearly 0.3% intra-day, thanks in large part to LOGM and VHC. I should have purchased APKT yesterday. It had the look and still does.
I added to my meat trade, gobbling up shares of PPC like a turkey on bath salts. I am fairly certain PPC will be a winner. However, my position will be built slowly, as I enjoy to braise the shorts before eating them (no cannibalism).
YELP is a lunatic on the run, escaped directly from the asylum itself. I am speechless.
Last night I was going over Mrs. Fly’s portfolio, which consists of retail and restaurant names of her liking: absolutely outrageous. I can tell you this for certain: she definitely knows her shopping. She’s a big fan of ULTA, SBH, TGT, COST, LTD, FRAN, KORS, AEO, CMG, AAPL–just to name a few. I queried her for beaten down plays, uninterested in chasing retail up here. The only stock she liked that was down is GES.
Top pick: Long the Bearded Clam