Santa Maria, I had a pleasant morning. After my usual “commute from hell cattle corral” I poured a small cup of coffee. After adding my usual dash of cinnamon I raise the Styrofoam cancer cup to my lips for my first surprise of the day, ice coffee. Puke the hot plate wasn’t on. My second surprise came from fucking Richard Greenfield over at BTIG. He’s going around touting SONGZA and its potential to cripple Pandora.
At first I think no big fuggin’ deal right? Spotify and Yahoo Radio and I <3 and them all circle jerk and suck, so what’s another sucky radio stream right? Eh…no so much; it’s pretty great. As good as, if not better than Pandora. POOF! Your bullshit moat has dried up. I’ve been listening to it all day, banging out this bullshit paper-pushing project, when I started thinking about how much I’ve discussed Pandora in this open forum. Two-three-fifteen times or so. You’re all smart and up with the newest apps. I know someone knew about SONGZA. SOMEBODY…YOU! Hook a player up, please. Throw any insight my way. Let’s talk about it.
Aside from these digressions, stocks went up today. They can go up for several days, or down. We’re range bound, that’s how it works. Use the goalposts I laid out earlier this week and position yourself. Or be a cool cat and let this turbulence give way to direction.
AND TELL ME NEXT TIME ONE OF MY INVESTENTS GETS BESTED!
How I will treat Pandora going forward: It’s forming a head and shoulders on the daily chart and I’m looking for it to head fake lower then reverse and obliterate. I’ll tighten my scales lower as I pretty much want to lessen my exposure in the name. I want to hold a small piece through earnings as they appear to be executing their business plan very well.
The rest of my portfolio ripped, but it was all muted down to mere basis points by my largest position getting SONGZA’d.