A Decision Has Been Made

I sold off half of my WDAY position, based upon it being the favourite stock in the online poll. By far, you hated FEYE, as do I, which is why I’ve decided to hold it for a little bit longer.

With some of the proceeds of WDAY, I began allocating it into YELP.

More Whipsaw Please

Just before the long holiday weekend, I want nothing more than some whipsaw. Let’s sell off the NASDAQ with reckless abandon due to growth being present. Any company that is growing their revenues by more than 20% should be sold, immediately. In its place, a good utility or REIT might do.

I’ve started off the day 0.7% in the hole, almost giving back yesterday’s gains. I’ve been combing over my pnl and have decided one of my four horsemen of financial disaster must be sacrificed. I must sacrifice one, not because its not totally awesome and worthy of my time and money, but because I need to raise capital in order to nimbly reduce the cost basis of the other three.

In other words, If I am going to escape this pickle with dignity, I need to absorb a loss, move on, then put that money to work in the other 3 to bring my basis back in line with reality.

At the present, I am -29% in FEYE, -16% in SPLK, -15% in YELP and -21% in WDAY, with WDAY being the smallest of the four. Other down positions include EGRX (-11%) and IFON (-14%).

If I do nothing, I will probably have to ride these stocks through earnings, something I am not exactly keen on, considering my recent foray into high beta hell. However, if I can reduce my cost basis in 2 or 3 of the four to a level that can be reached with any strong market uptick, why, I might be able to reduce my losses from -23% to -10% in fairly short order.

The stated goal here is to get down to at least -15% within the month.

UPDATE: I utilized some leverage to average down in SPLK, YELP and WDAY, bringing my basis down to $78.77, $75.6 and $97.40 respectively.

My #1, Back Up the Truck Now, Idea

Courtesy of The PPT‘s flawless track record in measuring YELP, I added to my position.
YELP

If I keep buying and buying, eventually I’ll be right. All that aside, this is the first time since YELP’s drop that the algorithms flagged it as OVERSOLD.

You’re All Monsters

When the chips are down, you get to see inside of the souls of people. When times are good, we all wear the facade, acting pleasant with one another, tipping a hat, holding a door. But when things get hard, you get to see the guy who’d slam the door on a woman’s face, or stab another man in his back for a box of cereal. To a lesser degree, we get to see it here too, inside of the comments section, where all of the trolls reside.

For some reason, these people are jealous of me. I don’t know why, as I can’t think of any particular reason why one would be envious of my life. I live rather modestly, indulging myself on occasion with things that aren’t too absurd, and generally try to treat others the way I’d like to be treated. If I’ve ever mistreated anyone here it is because he or she earned it.

Don’t get me wrong, I am not asking for leniency. It’s not in your nature. I’ve never had any confidence in man, as we are a barbaric, backwards, species, always clawing at one another in the never ending rat race for dominance. You know, the bible and the ten commandments were invented because of guys like you, a bunch of Eddie Barzoons running around, out of control.

Now I’ve been kind enough to let you all in, as I’ve undergone the largest drawdown of my career, so that you could vent your misplaced anger towards me. But don’t come to the site, impersonating me and insulting people with childish remarks. That, I will not have.

As for the market, believe it or not, I just bought more EGRX and FEYE. Maybe I have a death wish, or maybe I like cheap stock.

Remember, cancer is right around the corner (extra ASCO).

FREE COKE

Yellen wore a beard and threw a kilo at the market.

Fed minutes were exceedingly dovish.

As you were.

UPDATE: I bought AFOP, BLOX and MA.

Rack Life

Any questions regarding the market should be forwarded to “Honest Abe”, as he is now your go to guy for stock market commentary and opinion.

Off to Romania.

UPDATE: While at the airport, on my way to Romania, I averaged down in WDAY, YELP, SPLK and FEYE.

Fly Buy: $YELP

I bought back YELP, taking advantage of the recent debacle in shareholder value.

NOTE: I also added to WDAY.

UPDATE: I added to IFON.

Big Average Down: $FEYE

I increased my position by 40% on this morning’s dip in FEYE. It’s now my second largest position, with an average cost of $75.4

A Decision Has Been Made

I sold off half of my WDAY position, based upon it being the favourite stock in the online poll. By far, you hated FEYE, as do I, which is why I’ve decided to hold it for a little bit longer.

With some of the proceeds of WDAY, I began allocating it into YELP.

More Whipsaw Please

Just before the long holiday weekend, I want nothing more than some whipsaw. Let’s sell off the NASDAQ with reckless abandon due to growth being present. Any company that is growing their revenues by more than 20% should be sold, immediately. In its place, a good utility or REIT might do.

I’ve started off the day 0.7% in the hole, almost giving back yesterday’s gains. I’ve been combing over my pnl and have decided one of my four horsemen of financial disaster must be sacrificed. I must sacrifice one, not because its not totally awesome and worthy of my time and money, but because I need to raise capital in order to nimbly reduce the cost basis of the other three.

In other words, If I am going to escape this pickle with dignity, I need to absorb a loss, move on, then put that money to work in the other 3 to bring my basis back in line with reality.

At the present, I am -29% in FEYE, -16% in SPLK, -15% in YELP and -21% in WDAY, with WDAY being the smallest of the four. Other down positions include EGRX (-11%) and IFON (-14%).

If I do nothing, I will probably have to ride these stocks through earnings, something I am not exactly keen on, considering my recent foray into high beta hell. However, if I can reduce my cost basis in 2 or 3 of the four to a level that can be reached with any strong market uptick, why, I might be able to reduce my losses from -23% to -10% in fairly short order.

The stated goal here is to get down to at least -15% within the month.

UPDATE: I utilized some leverage to average down in SPLK, YELP and WDAY, bringing my basis down to $78.77, $75.6 and $97.40 respectively.

My #1, Back Up the Truck Now, Idea

Courtesy of The PPT‘s flawless track record in measuring YELP, I added to my position.
YELP

If I keep buying and buying, eventually I’ll be right. All that aside, this is the first time since YELP’s drop that the algorithms flagged it as OVERSOLD.

You’re All Monsters

When the chips are down, you get to see inside of the souls of people. When times are good, we all wear the facade, acting pleasant with one another, tipping a hat, holding a door. But when things get hard, you get to see the guy who’d slam the door on a woman’s face, or stab another man in his back for a box of cereal. To a lesser degree, we get to see it here too, inside of the comments section, where all of the trolls reside.

For some reason, these people are jealous of me. I don’t know why, as I can’t think of any particular reason why one would be envious of my life. I live rather modestly, indulging myself on occasion with things that aren’t too absurd, and generally try to treat others the way I’d like to be treated. If I’ve ever mistreated anyone here it is because he or she earned it.

Don’t get me wrong, I am not asking for leniency. It’s not in your nature. I’ve never had any confidence in man, as we are a barbaric, backwards, species, always clawing at one another in the never ending rat race for dominance. You know, the bible and the ten commandments were invented because of guys like you, a bunch of Eddie Barzoons running around, out of control.

Now I’ve been kind enough to let you all in, as I’ve undergone the largest drawdown of my career, so that you could vent your misplaced anger towards me. But don’t come to the site, impersonating me and insulting people with childish remarks. That, I will not have.

As for the market, believe it or not, I just bought more EGRX and FEYE. Maybe I have a death wish, or maybe I like cheap stock.

Remember, cancer is right around the corner (extra ASCO).

FREE COKE

Yellen wore a beard and threw a kilo at the market.

Fed minutes were exceedingly dovish.

As you were.

UPDATE: I bought AFOP, BLOX and MA.

Rack Life

Any questions regarding the market should be forwarded to “Honest Abe”, as he is now your go to guy for stock market commentary and opinion.

Off to Romania.

UPDATE: While at the airport, on my way to Romania, I averaged down in WDAY, YELP, SPLK and FEYE.

Fly Buy: $YELP

I bought back YELP, taking advantage of the recent debacle in shareholder value.

NOTE: I also added to WDAY.

UPDATE: I added to IFON.

Big Average Down: $FEYE

I increased my position by 40% on this morning’s dip in FEYE. It’s now my second largest position, with an average cost of $75.4

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