First off… Internet Explorer is gay.
Second, I have to clean up all these pineapples on my yard, so its time to make a drink. Try a “Surfer on Acid.” It’s good for both crowds. Bulls drink in celebration, bears drink in remorse.
1/2 oz Jagermeister® herbal liqueur
1/2 oz Malibu® coconut rum
1/2 oz pineapple juice
Anyway that was a nice rally on the tech side. It sent a lot of bears shorting that sector covering. I had to cover energy plays. Got squeezed out of YGE early, stopped out for a -6% loss from Friday’s swing, but played SOL for a daytrade hedge to keep things from getting out of hand. Boy that was a nice squeeze in YGE! I should have flipped the trade, especially seeing how much volume piled up throughout the day. To illustrate, it felt like I was paddling out towards a huge wave that was about to break, but I couldn’t turn around in time to catch it. I was looking out for sharks when I should have been looking at the waves. In other words, I was in the right area, but I just missed it. Yeah, I should have got aggressive in YGE from the morning.
Making some changes here… with consumer confidence high again I am going back from bearish to neutral on retail. It was a play on break of support, but we’ll have to revisit it later. I’m still bullish on retailers that have a focus on game-changing technology or intuitive products. For example, companies like NFLX, GMCR, are making a name of their own quietly. I used to think ISRG would be one of those companies that would set the standard, but because America is broke now I’ll have to adjust their timing. Keep an eye out for those companies! And no, FaceBook is not one of them. Speaking of FaceBook and social media, I have a question for you…
If Twitter had stocks, would you buy them?
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Gio, going back to your IBC Wealth Report Vol. 1 article, today we had a 10% intraday move down on the VIX with a 3% move up in the markets. The news was surging consumer confidence. Does this set the tone for the rest of the weak?
How long can consumer behavior drive the market and affect market sentiment..
Mushroomz… wtg for your good observation. this is a legit Vix Spike down #1, which means if you are using contrarian methods, you should be either 1) selling longs or 2) hedging them with shorts (selling to the dumb-money). A second spike down in a relatively short period of time would set up an optimal point for shorting. using this strategy keeps you from shorting too early. Anyway, keep a close eye on the VIX since it has only been “alive” since last week.
use firefox