Big Time Beat Down

My port finished the day down half a percentage but it feels like a one percent loss shit show.  Social stocks are behaving so shittaly (yes, it’s a new word) they make miners look good.  And I hate miners, all kinds.  I really hate the way these social issues have traded since Facebook, obviously, because they robot grind lower.  Then they simmer for a bit only to knife lower amidst an index bounce.

A few weeks back I theorized we could see above average performance from the socials if the indices would ever bounce since they performed relatively strong during the April/May correction.  It seemed simple enough but has been proved MORTALLY WRONG much to my chagrin.

The path is now clear however.  What we can now expect from the social stocks is a negative correlation to the major indices.  Look for names like P, FB, LNKD, ZNGA, TRIP, and fugly GSVC to flash green on your trading platform during down days.  This seems outright bizzardo which is why it may happen in the #costanza marketplace.

I made only one move today, shedding the QID hedge.  I really only carried the protection because of the holiday weekend and not wanting to close out all my longs.  Today was the perfect scenario to beat a social bull; crush the social names and rip the index higher.  Needless to say, I see more upside in the QQQ this week.

I remain steadfast in the following positions, by weight:  AMZN, TRIP, ADS, UPS, Z, AWK, NTAP, YELP, GSVC, FB, and P.

I may add to P soon and AMZN needs to get moving or it’s gone.