Watch for Gay Giraffes!
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As you know, I’ve been trimming the positions recently, despite taking an initial 2k share position in Central European Distribution [[CEDC]] today at $38.62 as announced on The PPT. I also took the opportunity this afternoon to trim half of my Cree, Inc. [[CREE]] position in the high $79.20’s and 2k shares of Veeco Instruments Inc. [[VECO]] at $46.78.
On the PM side, I also dumped another 2k shares of [[CDE]] at $17.12 and 2k shares of Allied Nevada Gold Corp. [[ANV]] at $16.95. Do not fret, these are just minor sales in anticipation of a pullback.
I think we’re in for at least a brief pullback and I’ve been looking for some easy fat, sloppy targets that offer some bang for the buck, all giraffe puns excepted. I think I’ve found one in our old furry booted friend Deckers Outdoor Corporation [[DECK]] .
“Lookee Here” as some apish Yankees would say:
We’ve all made some money on shorting Deckers Outdoor Corporation [[DECK]] in the past, let’s do it again, for auld (sic) times sake.
Best to you all.
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Funny, I was just looking at DECK on the short side.
Great call on CREE.
Thanks, I only sold half. I plan on buying it back once the storm is over.
Same w. VECO.
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Deck is a leader. If too many like this break down the market’s in trouble. Not yet though!
I too will be watching Deck. Right now trend following software is telling me to go to cash on Deck, but that the trend is still in place.
The leaders on this rally are the finis and tech specifically BAC, WFC, JPM, GS, MA, GE and AAPL, CREE, BIDU, usually GOOG too although it’s been lame lately – watch those
Just pulled up the 10 year gold chart. Yeah you’re right Jake. Alreadytl to he moon. Looks like a huge bull flag now again.
Ah, what a visual to start the day. Sort of sets the theme for the day.
Call it… “a cautionary tale.”
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Sir Gint, I trust you will alert the fine gentlemen of the PPT when to initiate said trade? 😉
Sure, which one… the short on DECK or the buyback on VECO and CREE?
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Today should be interesting. A successful Greek bond auction, so no euro decimation draining the markets, but Alcoa missed and I’m thinking even the successful earnings reports won’t be able to dampen profit taking in the faced of diminished expectations.
But Alcoa literally always misses.
Were you expecting different?
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i was just thinking the same thing. that’s something you told me many moons ago. like A-Rod in a big situation pre-2009. they always miss.
I thought last couple of quarters they were beating expectations?
Hey, who are you #6; what was your old moniker? I just caught you saying you were pissed someone tried to yank your old one.
in my former internet life i was yossarian. then a new yossarian came along. which was weird since it’s not exactly a “Tom” like name.
did you grab BAA? nice weakness today
I did not grab any more, but $2.13 is the 200 day EMA.
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Another 50 cents and I’ll take a run at CDE
I also like ANV closer to it’s long term trend line
Still holding IAG
Mr CT –
#6 was yossarian (not the new one with the slightly gay gravatar).
hey you charted BAA, get in there! with me! 🙂 good morning
I’ve got a shitte tonne of it and am not selling any.
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jake, you see the XRA spinoff, EXGMF, this morning? Nice pop.
Schwing!
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that giraffe, is getting himself a piece of ass. Literally.
jake, thoughts about MON breaking down here?
The ferts are stinking up the place.
Most are great short setups.
Insanity, but a great time to accumulate a name that will be even better than CRAAPL in the long run.
Especially at $63.50 or so…
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Funny post, Jake. Things have been bzy ovah heah. Shorted some BOOM today.
I was not going to post anew until I had some response from you on “surprise buttsecks,” since you introduced me …
to the term.
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BOOM introduced me…
to the act.