My four long term ideas have stood up decently though earnings, and I am coming out the other end of the great uncertainty net positive, for once. Every position aside from LO, TWTR, TSLA, and GPRO is a trade subject to liquidation prior to earnings.
This evening I will be listening to the Elon Musk speak on his company while I press iron at the local pump station. His earnings calls are the best, don’t be late because he goes directly into Q&A, none of that monotone reading of financial results bullshit you hear everywhere else. The man is busy making all of our lives better and knows the idiots on Wall Street have lots of stupid questions to ask so he respects everyone’s time and curiosity and gets right to it.
GPRO is off after hours because they reported fantastic numbers, their product is viral, and everyone who owns their camera is a HERO. I couldn’t care less about this short term blip, I love how user generated content IS their marketing, pimping the Youtube platform like it’s their own. How’s that for marketing? When your child or nephew asks for a Go Pro this X-mas, do everyone a favor and buy the Go Pro. No one wants to return the god damned knock off you buy instead. We are very busy, you see?
To pin a rose on this earning season’s nose, I was bestowed a fine gift from the Option Addict via X. What a pleasure it was today, watching this stock continue to catch a bid while everything around it crumbled. Talk about a confidence boost.
Said confidence was deployed into WFM September calls this morning. I have wanted to buy back into this grocer for many quarters, they are a winner, and I consider the post-earnings impulse sale a deal for the ages. The calls I purchased were up well over 100% at one point today. Something tells me I caught the tiger by the tail on this one.
Finally, I was net down on the day, as some of my internet ridiculousness and China stocks retraced their initial gains. I agree that tomorrow, the first of the month, is important. I suspect many mutual funds with be tasked with the boring duty of allocating new funds to equities. They would rather be enjoying their August in Europe and the Hamptons, yes? Why not just throw it all in Tomorrow and Monday and spend the rest of the month on a golf course or boat? Think about it and take your mind out of the news flow and away from the charts for a cotton picking minute. These industrious folk need vacations, not “work”. Friday being the start of the new month is very odd. Nevertheless, I put on a Texas hedge and BAWT some TNA this afternoon. I cannot say I am thrilled with how it closed, right down at LOD on VOLUME, but I will see it through until tomorrow at least.
Eat well, make love to your wife, for tomorrow we do battle with sloshing liquidity.