Sorry for the non-investment title and post, but can you believe this guy? Who goes out and tells ESPN that they want a 1-hour special called “The Decision” to announce to the world what team they will sign with? Who grabs a nickname from the Bible, and pronounces or accepts the title as “The King”?
I’ll tell you… someone who thinks too highly of himself and yet is ringless.
Give me a break. I’m going to tune in on his announcement today just so I can see how dumb it is. Yeah, I’m just as sheepish and dumb. How long does it take for someone to announce their new team? Hmmm, Michael Jordan said it in two words, “I’m Back.” Who needs ONE HOUR?!! This is presumptuous, and ESPN needs to take off their skirt after the show. If Lebron doesn’t stay with the Cavs, then he just made his exit a glorious “see yah, kiss my butt, I’m going somwhere else.” If he does stay with the Cavs, then he’ll have this reputation of creating a crusade, or like he’s trying to prophecy his heroism.
And I don’t buy that, “I will use the proceeds from this 1-hour show of my announcement to help the Boys and Girls club.” What a publicity front! Why stop there? Let’s put Lebron’s used toilet paper on eBay and use those proceeds to fight cancer.
Anyway, I guess there’s nothing else to talk about in the NBA. I think it’s absurd that Lebron gets his own webpage on ESPN and his own Twitter account having to deal with his signing. All hail the King! We are zombies.
Okay, back to real trading. It looks like the market is serving up some beat down to the bears. I’m still not flinching on my shorts because as I stated earlier, it’s not a good time to go 100% short in your portfolio, but you should be building towards a bigger short position (or smaller long position + neutral position). Today was actually a good day to short. I think tomorrow we will have a good down day at least to wipe out today’s gains. Either tomorrow or early next week. It’s not that promising to see trash stocks leading the market up. For today, you may have noticed China stocks were making a run like JASO. But when you look at the leadership in that sector, it was quite flat… BIDU closed almost neutral. More importantly the leaders are flat today. Carefully monitor them! I’m waching NFLX, PCLN, AAPL, NETL, VMW, ROST, and LULU. Only PCLN and LULU did well in that powerhouse group. For now, just remember, do not overtrade this tape! It’s a day-trader/short-term-swing trader’s market. If you don’t fit those categories then lighten positions, especially if you’re uncertain on a 2-month timetable.
Okay, time to watch the Lebron show. So, where does he go? If he joins the Heat, do they win it all? Does Jay-Z offer him the future of Brooklyn? Will he ever win a championship ring, and if so, does it hurt his legacy that he needed the help of two superstars? I hope he stays with the Cavs, but if he does go to the Bulls or Heat….
“We’ll see you in June.” -Kobe and Co.