I sold out of NFLX and ATML, closing the chapter on two stupid companies. Today’s ATML debacle is due to an analyst downgrade. I really have no interest in buying ATML weakness, as it was designed to pop with momo. Since the new momentum is lower, I am the fuck out of that goat-fucking stock.
The proceeds of both sales puts my cash position to 30%, as both positions were 10% albatrosses. My risk appetite is nil and I don’t feel like spinning my wheels today. The market is weak. There isn’t much working today, outside of utilities and defensive stocks.
You should be on guard for fuckery, as last week’s buyers capitulate into this week’s weakness. It’s really one big clusterfuck, this market. One day we’re all doing lines of blow, spinning atop the needle of the Empire State building. Today, however, we’re destitute, cellar dwellers, begging for Mother Market to bail us out.
Well, I have news for you, Jack. The market doesn’t respond to desperate pleas for help. The exact opposite is more likely to happen, under the banner of a “no surrender accepted” black flag.