On Edge With the Market All Stupid Again

I sold out of my TC position for a small loss. I have some limit orders in for another stock too. Frankly, retail sales were an abomination. It’s odd, really, since people are rich as hell. Perhaps everyone is out buying Bentleys and Rolex watches, instead the ordinary fare. The fact of the matter is, the market isn’t behaving well and many stocks are elevated to dog brained levels.

I’ll take the upgrade in ANGI. Thank you very much Sir. I will also, gracefully, accept a bounce in TXTR–an abomination of all abominations. Nevertheless, it looks damned good right now.

GOGO is up and BALT is lower. In all, I am bleeding out just a tad, to the tune of 0.7%. I realize it’s a small offering to the Gods. However, those bastards fleeced me for 2.5% yesterday. This whole business of losing money is becoming rather tiresome and I’d rather not do it anymore.

If forced to offer on the spot advice on where you should put money right now, I’d say cash.

UPDATE: I sold out of VEEV.

Luckily for you, I’ve cordoned off all of the chinese stocks, like the savage animals that they are, inside of The PPT, to gawk at them like falcons in an aviary. I’ve had this arrangement with the celestials since the beginning of time, since I started The PPT. No one really knows what to expect from them. Half of them are liars, and the other half are fixing to lie. But the market is fascinated by them, for the moment, like cocaine stocks inside of a marijuana vending machine.

As you drink large vats of craft beer, getting fat around the midriff, “The Fly” has been toiling over his laptop (apple, the big one, BOSS), looking for common denominators in recent chinese lottery winning tickets.

By golly, I think I’ve found one.

The biggest winner has been VISN, up 901% over the past 6 months. It has -14% revenue growth, 4.6 million shares in its float, profitable, micro cap and a good balance sheet. There is nothing redeeming about VISN, whatsoever, yet it’s up 901% over the past 6 months.

The point: you’re looking for the wrong catalysts. These are low float lottery tickets. We are simply here to rip a trade, be gone, buy a house with the proceeds. By partaking in this gamble, we might get caught flat flooted, every once in awhile. But we are men and know full well the risks involved when playing the lottery.

Let’s cut to the chase. I’m gonna give you some names, stocks that I feel have the profile to get going, chinese burrito lottery style.

ZA
CNTF
CCSC
CCCL
ZX
MCOX
CYOU
WBAI
HGSH
HTHT
NOAH
MONT
LITB
CCIH

I took hits everywhere, missing sell points and succumbing to short sellers’ reports that drove down one of my holdings. Still, I remain optimistic.

For the day, I gave back about 2.5%, effectively having my gold chain snatched from my person. My largest position, however, was higher. So I hope you can appreciate the sheer carnage that took place in my second and third tier names.

I’ve been distracted all day by Chinese burritos surging higher, attempting to lure me into their webs. For hours I was researching some fast movers and then it dawned on me: I don’t have that much cash to invest, being fully invested, so what the hell am I doing?

I’ve never been the window shopper type, so I quit looking at the market and started to focus on my positions.

Do I average down in TXTR? Part of me wants to take advantage of this drop, another part doesn’t want to get committed to something that is up for debate. I have too much drama in my life as it is. The last thing I need is to be bogged down in some stupid stock that is subject to an influential Citron Research bear raid short thesis every other day.

I haven’t had a down day like this in awhile and in no way do I find it to be “refreshing” or “not a big deal.” I hate set backs and will not let this 2.5% drop get much bigger, if the market is so inclined.

You all got so excited yesterday. GOGO was lifting off and BALT remained invincible. Well, today “The Fly” is being dismantled by the hinges in GOGO, TXTR, ANGI; but BALT still remains invincible. Even still, I find myself down more than 2% today.

Am I worried?

How could I be worried, whilst sitting atop of ginormous mountains of gains?

Get back to me when my positions are down 10% a piece. Then I’ll start worrying about be broken to pieces, amidst the rocks and the dust.

Just to repeat what I said yesterday: I expect GOGO to trade lower and will buy it when it does.

Apparently, China is letting The Devil into its country. They lifted a 14 year ban on video game consoles yesterday, which paves the way for Sony and MSFT to infect that country with their cancerous machines.

On the surface, one would think this is great news. But Sony doesn’t think so. Therefore, I can’t get excited.

The chinese prefer free web based games, which is why stocks like QIHU, SFUN, YY and PWRD have done so well.

Nevertheless, one might presume SNE could, eventually, benefit from this, and by extension, IMMR.

IMMR has been brutalized ever since a certain bearish hedge fund manager, who happened to own a few million shares of IMMR, began to liquidate–likely from necessity. But it’s a new year, with fresh opportunities.

With the right mood and news, IMMR could easily move past $15, eventually on its way to $20.

NOTE: I do not own it yet and would consider buying it, only after I was sure there was sustainable momentum.

The market hasn’t been gangbusters in 2014, thus far. However, you and I both know that speculation has been running rampant. Everyday there are a dozen or so stocks up more than 10%, sometimes more. Looking at the market from a historical standpoint, this sort of debauchery precedes harsh pullbacks. The offal of society dine at the very best restaurants and wear the finest garments, just before the collapse, war, famine, pestilence, deterioration that ravages mankind to pieces upon pieces.

As of right now, we cannot see what that catalyst might be, to “ravage mankind to pieces” and all. But rest assured, it lurks in the shadows and will present itself at the very peak of euphoria.

In the meantime, I intend to continue to trailblaze a path of hedonism for you, through stellar stock picks and money management advice.

Dry Bulk rates have been declining, as of late, fulfilling the prophecy of Jennifer. Sadly, the stock prices of the bulkers haven’t responded in kind and continue to outperform. I can only pray to the stock gods for a pullback in BALT and hope that I haven’t depleted my buying power to the point of paralysis. The stock will trade higher, much higher, eventually.

Micron is soaring in the pre-market. Expect tech to do well.

Top picks: GOGO, RBCN (on this dip, post secondary)

When I sold SHLD and bought GOGO, I figured it would trade flat to down, since it was in a downtrend. The primary and only reason why I started a position in the stock is because I like the business. I had been long from $12, took profits too quickly, and figured I’d buy it sub $25. I intended to double down at $20. GOGO is not like my other burrito plays. It is a core thesis play that got away from me, like YELP, and now I am reclaiming it.

The fact that it shot higher by 10% after I bought it is only gravy. I am in it for more and will add to my position on weakness.

Speaking of weakness, TXTR succumbed to another Citron Research report. I will add to my position if TXTR drop another $3.

We’re all amazed with MDBX and I’ve been watching it since $12. It is on one of those mind-bending runs that defies reason, sort of like PLUG. I believe we can get such a run in a number of my positions, from BALT to RBCN to LITB. Maybe not as extreme as MDBX; but there is massive upside potential for pretty much all of my high beta plays, which now dominates the bulk of my holdings.

Frankly, my BETA is way too high. I am aware of the fact that anyone with $100 million to invest would be scared out of their suspenders by my investing style, and that’s okay by me. I am the perennial start up, bigger than most, much smaller than the biggest. My eagerness for expansion has its limitations and I’d much rather parlay my time around the internets or with friends/family than flying on airplanes to shuck and jive with prospective clients who I’d much rather hate than break bread with.

Certainly not.

After each new high comes renewed cat-calls of “blow-off tops” supported by one weak stock or another. The dialogue might sound something like this:

Bob: Did you read Zerohedge today? Boy, I’ll tell ya, this market is really due for a correction. All of that margin is bound to really cut some penises off.

Frank: What the hell are you talking about Bob? Why don’t you go stuff your head inside of a musket and pull the trigger. I’m busy making money in stocks. Leave me the hell alone.

Bob: Hey, what’s up your ass, permabull. I’m just trying to help you out. After all, I know you since we were like sperm cells and don’t want to see you lose money.

Frank: Shut the hell up Bob. The next word out of your mouth, I am going to take this computer and break your skull with it.

Bob: I’ll just leave you with one word, jackass: NETFLIX.

Frank: What the hell is that supposed to mean? (busy smoking cigarette while executing trades)

Bob: Well, duh, it’s down 5% today and that has been the bulls’ number one momentum stock.

Frank: Hey, tell me this Bob, does your wife stay with you because she feels sorry that you lost all of your money shorting the market or is she just stupid and has nowhere else to go? She is a pretty girl, after all.

Bob: Make jokes all you want, Frank. I am going to be dancing on your grave soon enough. And I won’t stop there. I am going to dig up your grave, rip your skeleton out from the coffin and skull fuck you as the market tanks.

Frank: Blow me. Now go fetch me a coffee.

Bob: I’m heading out to lunch now. I just bought some VIX options. It’s a layup here. I am telling you.

Frank: You know what’s a layup here Bob?

Bob: What Frank? Tell me something clever.

Frank: Your wife Bob. Your wife is a layup here.

Bob: (fist pumps as he executes another $2,000 order in TZA)

Frank: Are you buying that TZA again? You’re better off taking a nice bubble bath and then dropping a toaster in it, than messing around with that thing.

Bob: You will see.

Frank: Didn’t you lose like $500,000 in that thing back in 2009?

Bob: It wasn’t that much, but close.

Frank: I’m telling you Frank, your wife is definitely a lay up here. She’s just waiting for a reason to leave your dumbass.

Bob: (fist pumps with excitement as NFLX ticks lower)

Frank: Jesus Christ you need help. You don’t even own puts on the darn thing. Come, let’s go to lunch. It’s on me.

Bob: Thanks. They’re having a special at the diner downstairs.

When I refer to “we”, I mean myself and all of my various personalities: HORATIO CLAWHAMMER, Señor Tropicana, Plutonium Petey, The BlogFather and of course The Fly.

Diagnose me. See if I care.

I ditched SHLD for a 5.5% loss and started back in GOGO, looking for $30+.

Aside from yours truly and some of the finer gentlemen of this site, the market has been bruising for most during 2014. But that’s all about to change, very quickly. I am expecting to see momentum on the grandest scale ever imagined to be displayed for you, naked, without any of its fine under-garments. There will be dot com stocks upon Chinese burritos that will make the original dot com bubble look like mere child’s play.

In more important news, I am back to drinking Earl Grey tea again and have thrown out all of my coffee beans. I was becoming addled with the caffeine, behaving like a depraved fiend. No wonder every single homeless man I don’t know prefers coffee over tea.

In other news, I am about to swap out one stock for another.

DEVELOPING…