When GPRO hit $85 yesterday, it was all but assured that it’d keep heading higher, amidst the fanfare of being the hottest product this holiday season. People were tripping over themselves to get long. Then the market closed and the company priced a secondary 4 points below the market, revealing a weak hand to the scoundrels on Wall Street. The retail heavy clientele got locked into a doomed deal and those very same people sold with reckless abandon today.
Now no one is talking about GPRO heading higher anymore. The lies and the fear mongering that was purported by short sellers must be true. We must sell because of an avalanche of new shares heading to market. No one wants GPRO cameras anymore.
It’s funny isn’t it? But this is what makes the stock market great. Sure, I lost a small fortune from yesterday until today; but the lesson is priceless. I am a student of this market and have read the tales of Jay Gould, James Fisk, Commodore Vanderbilt, Uncle Drew, Henry Clews and others, and know that what we see here on a daily basis is just noise–utter nonsense. Stocks will fluctuate based upon the caprices of man. You can go broke trying. Plenty of great men, legendary traders, have died penniless.
But why?
Every once in awhile we let our guards down and believe we are Hercules, god amongst men–indestructible. Then that moment comes, the time when that perfect trades eludes us and drags us down into the dungeons of hell to exact punishment. Such an occasion has not befallen me on this day (down 0.5% for the session), despite GPRO being down a cool 7. But it’s this entire year of hand-wringing exercise, dodging bullet after bullet, that has exhausted me into a capitulatory demeanor.
It’s probably the reason why I didn’t sell GPRO when it was at $85, marked by The PPT as overbought–when it was destined to trade higher.
At least I made a solid $5 on that hamburger stock today.
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+1
Speaking of Burgers… what ever happened to Samsonite Hamburglar?
Are you still holding GPRO? Would be great to get your outlook for it going into XMAS season.
Yes
How shorted is this stock-now-a-days?
Wait, are you still holding all your GPRO then? You mentioned your original purchase was in the $60s, but with Turkey day ’round the corner, do you think this trades lower than this?
Yes Senor. What are your current thoughts on GPRO?
My thoughts are hindsight is 20/20, but nothing about GPRO has changed, except sentiment.
I added to my position today.
Thanks for replying before Alf the dick swaggers along
That guy escaped from a mental asylum.
Do you know the guy? Or do you just suffer him because of your generosity?
You’re just assuming he escaped.
He gives the best comments though.
So is GPRO a buy or what? I do love to buy me some blood.
Went into BB today to get some 35mm film for me GoPro Hero, the pleb behind the counter gave me that look your wife gives you when you mention a night of fun!!
So if I cant get 35mm film for me Hero, then I might as well ditch it and get something better.
Oh the choices are vast, shall I get the Garmin Virb, oh wait, that camera don’t look that cool on the top of my motorcycle helmet, complete with pink hairy fur as I split lanes of the I-405 out of LA. Maybe the Sony HDR-AS30V could be an option? whoa wait a minute, what the fuck were Sony on when they designed this brick as a competitor to GoPro’s. This looks like something that should be sold in a Russian flea market, definitely not something that a squirrel could snatch and run away with, or be mounted on a skateboard…….yada yada yada, you get my point.
These are at present the only two contenders, look em up.
Now I know for sure some of the things that Go-Show are working on, and they are awesome, stuff like FLIR technology for Fire Departments and other applications, so short sellers do your absolute worst, because although I am down today to the tune of $10K, I still want to obtain more at a good price.
If you need some 35mm film, go to a FotoMat … http://www.retroland.com/fotomat/
I remember my Dad in the ’60s talking about the hot new Bell & Howell 8mm camera and he went and bought the stock.
https://www.etsy.com/listing/178050126/vintage-60s-bell-howell-8mm-movie-camera
But then again he also bought stock in Montgomery Wards, Studebaker, and EJ Korvette.
Oh well, he tried.
Hehehe, after i got fucked by feye,yelp,splk earlier this year, i learn a BIG Lesson ..when FLY start pumpiing, i start shorting … Its was awesom .. I think ill cover around $67
360 Fly is coming out with a pretty interesting camera..Is it a viable GoPro competitor though…Maybe for those that use more than one camera or want more than one angle. Not here in time for the pagan holidays so that’s out and GoPro has quite a lead however VOXX is distributing it and has quite the distribution network.
schizo
How did that work out for you when I was buying yelp under 20, ftk under 2, Jazz at 140, panw at 85, n at 85, xon under 17.
I can go on for days son
There is no denying Fly’s post the other day pounding the the table that GPRO was ibankcoin’s #1 power pick makes the exact top. I had a feeling that might happen when I saw his post. Crazy how things work out in the stock market ain’t it? Nevertheless, I do enjoy Fly’s picks a lot of the time. GPRO just wasn’t one of them this time around. Should find support around $65. Godspeed.
Or how about fmsa from 10 to 15 or today’s habt at 33.5? Did you short them too, dick grabber?
Konasurf
Cradle my balls.
BANNED
You homos realize I’ve been long gpro since mid 60s right?
Please Fly, do not take my comment the wrong way! I was simply trying to say that the headline you posted the other day reminded me of a headline in Barron’s that screamed “BUY GOLD” and that was the exact top. Nothing personal…just a funny thing is all and I’ve seen it so many times over the years with regards to a bravado headline like that. Please reconsider the ban. I am a big fan.
…and yes, I realize you bought in the $60’s…well done, sir. My chart says $65-66 area is support and it should bounce from there…perhaps even find a solid bottom.
MUH CHARTS
PS.
“Cradle my balls”
LMAO. I’ve got to use that one the next time I get angry with someone. I promise you I will do it, too. LOL
konsurfs you are just a huge pussy I can smell the juices from here.
I rarely ban anymore. I just threaten.
What kind of crazy banker prices a secondary $10 less than the market price?
The secondary wasn’t 10 below, but 4. Why are you people idiots?
I consider the drop from 85 all part of the secondary drop (so 10 points). But seriously, I’m just trying to figure out why. Lack of institutional demand? Woodman trying to pull a fast one on us?
Hey konacabana, you do realize the stock has been to $98 right? So how exactly did Fly mark the top?
I think he meant short/mid-term top. Just like Nasdaq topped in 2000… but you can still call the 2008 max as a “top” too.
blogger manual page 17 > rotate diatribe, insert humility