I remember being short into days like this, witnessing Asian and European markets get clobbered, along with US futs, only to see our incredible markets buck the trend and kill my position. If you are an active participant in these markets, you should know by now, never bet against the Fed.
I am not claiming victory here, as I have only made back half of yesterday’s losses and the day is young. But the worst case scenario didn’t materialize today and I’m happy about that.
I am 100% invested, so I am not looking for new ideas. I’ve switched from research to management. Along these lines, I’ve developed exit strategies for some of my names and calculated holding periods for each of my positions.
My two favorite names are IMMR and AMBA. Both have momentum and should trade up with the tape. WETF is a half sized position. I am waiting for the Japanese markets to stabilize before making it a full position.
FRO is with me for a long time and will continue to be a long term holding.
HOV and USG are both cheap and great plays for US housing. And, lastly, YELP and MTU are both buys here, for different reasons, but buys nonetheless.
Within social networking, there are a handful of names worth holding for the long term. Here are my favs: ANGI, TRIP, YELP, Z and maybe OPEN. I do not like LNKD.
ANFI is my laggard, an illiquid play on rice. It is a small position, so I will exhibit some patience to see if they can get their act together.
Overall, I am very bullish on this market, due to the nature of today’s appetite for risk.
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The Fly is God.
Very helpful post, Fly. Thanks.
with you long FRO and WETF…also long LEDS…
Thank You Almighty making Fly a believer today ! TODAY’S SCRIPTURE
“Pray without ceasing.”
Thessalonians 5:17, All throughout the trading day, under our breath, in our thoughts, we’re constantly thinking about God, thanking Him for His goodness, meditating on His promises, and asking for His help. Prayer should be a lifestyle. It should be so ingrained in us that it’s automatic. Develop the habit of acknowledging Him. That’s when God will fight your battles. That’s when God will make the crooked places smooth.
You call this a rally? FX markets are not confirming. Looks like short covering.
what the fuck is the difference, dip shit?
Ha! I love it when I hear people say stuff like this rally is “not confirmed”, yet stock prices are up.
Stupid is as stupid does
YES! CURSING!
Honestly, I expected a cocaine fueled +20 ramp on SPY…
God is American, this is confirmed by the world markets.
Buy SWY.
Yes. And the good folk at Goldman Sachs tell us they are doing his work.
Draw your own conclusions………
Waiting for Seeking Alpha shorts to bash BBRY.
Munch is long stocks!
Now stop WHINING, shut the fuck up, and go fetch me a bitterly cold fucking beer … AND MAKE IT SNAPPY!!!
Fuck’s SAKES, man!
FXY is up, shouldn’t the market be down?
FXY was up from last night. Get with the program. Today is a reversal day.
Devil looking to short oil soon…could be time for that blowout FRO….you “fuckingcrackas” (no chris rock)
NIKKEI could see a relief rally tonight!
MTU
DXJ
WETF
Ben is obviously out of cocaine and now down to the dissassociatives
The SPY is fully indulged now In Ketamine – grinning all alone – in a world completely by itself
Avoid the hole dreamers
Yuk…ketamine – there’s a drug that’ll make you buy things like ANFI.
wait for it…wait for it……
$HMC $TM did we a problem in Japan or something? Mr.Partridge didn’t notice – it’s all calm in pear tree
In other news: my ‘pretty ass portfolio’ is back as of yesterday and this morning – long LULU and UA
and just bought KORS …. pretty ass is back 🙂
You’re a scoundrel of a bird
Fell for the old banana in the tailpipe trick again…..
CSX ride the rails,,bullish and long
Munch, 88, then …