Lots of momo stocks surged ahead today. Even though I shed 1%, I am encouraged by the overall action. I am looking to reposition into YELP, YY, TRLA and GOGO, but lack the funds to do so.
“The Fly” is leveraged to the hilt, at the very pinnacle of the market, begging for a beatdown.
But it’s not going to happen just yet.
In order to buy the stocks on my wish list, I will need to take profits on some or all of my current holdings. I own very obscure names, low brow even. None of my positions are “main stream” and cry out “do your worst mother market, you’re a whore” at very loud decibels.
My new positions in ALJ, JAZZ and AMBC performed well today, while BALT, NSTG, HK and MODN wallowed like fat men in a pool of lard.
As I write this composition, ALJ was my largest position.
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was today a Rick Ross or Philip Glass day at chez Fly?
Today was a day of complete and utter silence.
out of the blue lexus and new lexus, and back into the box chevy for you.
Not to be a spoiler but the undercurrent I see is down vol. 3:1 on Naz and on NYSE the down vol. was >2:1.
Declining issues > than advancing, especially on the NAZ.
GOOG and AAPL can’t hold this up much longer IMO (no Trading Nymph).
I did buy some HDGE (and I did make some $$ on shorting SMH).
Here are the undercurrents I speak of
http://ppt.ibankcoin.com/all_stocks.php?order_by=percent_change_desc
ANGI done
FIO done… FFIV dying… many fish to fry here
John Lee would be shorting Caterpillar if he was still around
Dear sir Fly,
Please take a look at ANGI after hours. Horrible earnings for a horrible stock.
Additionally please take a look at gasoline futures, http://scharts.co/1cZ3Pvb they are at an almost 2 year low, this will be bad for refiners.
GOGO is looking good here, it should be ready for another leg up. There might be some downside still, but good place to start accumulation.
The price of gasoline is not nearly as important as the actual crack spread and Brent-WTI spread.