Fifty percent of stocks were lower today, despite the 100+ point rally in the Dow. When this happens, I always feel terrible about my positions, clearly underperforming in an upward biased tape. From the FRO to IMMR to ANFI to USG–lower values across the board.
But I intend to sell some IMMR, north of $20, with the CEO, who is selling the stock in 5 point intervals. You will all panic when he sells at $20, and again at $25, then $30, then $35 etc.
Having my thumb in the wind, I can tell you the retail investor has very little patience for down periods. At the first sign of weakness, I am bombarded with text messages to liquidate and hide inside of a bunker.
Japan is off 17% in recent weeks, taking WETF with it–just a tad. I am hoping to buy back in south of $12. I’m also looking to buy back RAS, BX and others. Although the market isn’t appreciating good, sound, businesses now, I don’t feel at ease owning crap, exclusively for the purpose of ripping out quick trades. If I was 90% long and content with my holdings, I’d have no qualms taking 10% and rolling the dice with it. But with 45% cash and sucky positions losing value, I’d be acting in a manner not traditionally known as “gentlemanly” if I was to partake in outright gambling now–buying the crap.
In summary, it was a very depressing day for me. However, my greatest trade has yet to have been made.
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Bought IMMR, WETF, RAS, USG, WNC and WNR today!
Thought I was the only one. Based on my watch list, I would have thought the Dow was down a hundo.
Fly- in your most recent trip into the future, what did you find out about MVIS? With Goggle Glass, there’s been a lot of talk about Augmented Reality displays and Wearable tech. MVIS has a lot of patents in those areas. Also, Green Laser Diodes are coming online, removing the last hurdle for the company’s technology from moving forward. Thanks in advance.
I’ll put in a call.
One word for you
HAPTICS
Love that video.
I sense a major tree-shaking, by end of week…possibly 2-3 days, and at least Dow -300 points.
Have fun, children.
As long as the consensus is that we are going down, we’re probably not!
Really going out on a limb there, Pops! Considering in the last 5 days the Dow’s already swung 300 points once and +-100 pts several times. Bold, Bold prediction.
Classic Krull video!
Oh, and we need these…
http://www.nbcnews.com/technology/porn-app-comes-google-glass-are-you-surprised-6C10167274
Let me join the pain parade today. Though most of my holdings stood up, RLGY all by its damnself took me red.
Ah, well, Turnaround Tuesday is upon us.
By the way, saw the movie “Searching For Sugarman”. I had no idea what it was about but the reviews were really good so I gave it a try. Loved it! Awesome story!
Here is a warning, i am now 100% long in a couple of accounts, looking for a retest of recent highs. I haven’t been correct in two years, and i haven’t been meaningfully long in 2013.
Take this one of two ways — either i am due for a correct call, or this is an indicator worse than the hildenberg omen.
I am sort of 50/50 as to which it is, but i did manage to get in at the (current) lows.
On May 25 I posted NVIV in Fly’s birthday suggestion stock BLOG. It opened at $2.96 on Tuesday. Today it closed at $3.62 and it hasn’t really even gotten started yet. Warrants called in deadline today, Level 2 asks are now blue sky. Uplisting within 50 days. Human trials of spinal scaffold start before July 4. This will be worldwide news when the first acute injury spinal paraylsis patient regains lower extremity function. Bigger than 60 minutes, MUCH bigger.
Why play hero? Relax. Money making opportunities, are going nowhere. Bernake’s got your back! Preach to the God of Mammon. Or Obama. They both pray to same God.