iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,473 Blog Posts

Working on Some New Ideas

I like this MAKO and WHZ here. I’m also thrilled to see MU hit new 52 week highs and a little pissed off FRO didn’t follow though today. I think JRCC has some serious legs underneath it and am in awe of TRMD, a shipper gone bezerko to the upside.

Chuck’s WNC looks good too.

And let’s not forget about the ultimate welfare stock PRSC.

Truth is, so many stocks look great at the top. That doesn’t mean this is “the top.” But humans tend to paint a rosy picture around things when times are good. I have to be mindful of my risk exposure when 52 week highs are being hit. That being said, there isn’t any evidence to suggest we will start going lower. That’s pure guess work of the amateur sort. The market has been going higher and valuations are still reasonable. From my vantage point, now is the time to make gains, for gloomier times will present themselves in the future.

I want to own IMMR, but hate chasing it here. However, it might run to $16 before resting. The problem with waiting for a stock to come down to “your price” is the fact that no one cares about “your price.” If you like a company, buy it right away and prepare to average down later.

I think I’ll heed my own advice this time around.

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9 comments

  1. TM

    That’s I am doing with BX. Thanks Fly !

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  2. casey

    i wouldnt overlook GGS. nice low dollar investment and in an interesting business

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  3. Juice

    maybe the next TRMD will be FRO .. u never know with that kind of flotsam

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  4. OG

    So many stocks getting squeezed today.

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  5. SIngleStud

    Fly…you are such a fantastic contrarian indicator! Thank you!!

    You couldn’t have pounded the tables harder for a monster down month this month a couple of weeks back. Your streak continues…GENIUS!! 🙂

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    • Steve-O

      hehehehehe..careful, he’ll ban you for pointing that out. Bears got slaughtered this month as history does not repeat (whowuddathunkit)
      Long 125%

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  6. widespread panik
    widespread panik

    Stud,

    You are probably all of 4 inches. I was somewhat short into May but realized everyone and their brother was also short or bearish so I covered Thursday before the breakout. Give Fly a break. JPM and GS had perfect trading quarters and they know the playbook ahead of time. The rest of us do not! Fly bringing in the Devil and his ball blasting picks is a godsend. This is my goto sight online for tips and blogging releases. Thank GOD for TSLA, my June 45’s I sold today for a…….500% profit.

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  7. Mr.Partridge

    My pretty ass pick lulu is going to the moon

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  8. Fabian

    SingleStud, …

    You try what Fly is doing for just one day. Everyone [of those who choose to expose their market related comments and picks to an audience larger than their dog-and do so in an interesting, entertaining, and often humorous way] is often wrong.
    Try it for a while and see if that changes your perspective.
    Try to add value and encouragement to others.
    What Fly and others on this site are doing–[without great compensation- in many cases, just to add value- to help others]
    Snarky comments tend to make one look small.

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