I am officially “disenchanted” with stocks, especially after today’s bloodbath, courtesy of the good folks over at NFLX. I cannot believe I am in this stock large, into the teeth of a fucking calamity. I can only blame myself, as I had no good reason to be long other than to be a contrarian.
Sometimes the herd is right. In this case, I am a regular jackass.
PPC is also getting hit, following numbers out of SFD. However, the numbers were solid and investors are just being bitches about the whole thing. I am not concerned.
What’s important to note, as the indices slide to new intra-day lows, is strength in healthcare, alcohol and tobacco stocks. One cannot deny the possibility of grave and heinous danger when old man stocks start to catch a bid. Having said that, aside from my 35% cash position, MCK is my largest equity holding.
I like the look of silver and gold, especially NAK. Barring some news event that can fuck the stock, I like NAK the best as a barometer on Romney. Should Romney get elected, perhaps he will reign in the fucktards over at the EPA. If that happens, NAK may be permitted to mine in what is estimated to be one of the largest copper/gold mines in the world. On that news, NAK goes to $20.
It is a lotto ticket, nothing more or less.
My HDGE is trending higher again. I am not long the name to make a great deal of money, however. It’s more of a place to safely park cash, than an advantageous bet on declining stocks. Should I make 5-10% holding it, so be it.
In short, stocks look like shit. I feel like selling everything because I am an emotional roller coaster. During times like this, I force moderation by preoccupying myself with things to do. I might go read a book or create some new PPT screens. Or, I might just say “fuck it” and start selling some of my losers.