The Twitter IPO was officially a success. People are taking to Twitter to congratulate @NYSEEuronext on their handling of the public offering and the investing community couldn’t be happier. There was one little hiccup however, anyone who bought shares at the actual opening price is either unchanged or underwater in their position.
And the market trended lower all day.
Determining whether the broad market weakness was a result of the TWTR IPO or whether the TWTR IPO was flat intraday because of the broad market weakness occupied my mind entirely too much today. What came first, the chicken or the egg?
One thing is for certain, it did not piss everyone off…yet.
I bought some shares today, a modest ¼ size position or 2.5% of my entire book. Twitter is my crack rock. Facebook is for nosy relatives unlike Twitter which is the greatest mechanism for taking the collective pulse of any situation anywhere in the world instantly. It’s fun, always. Are you a lonesome loser some nights? Don’t fret, pal, fire up your tailor made feeds and join the discussion. Jeff Macke would love reading that I bought TWTR today with long term intentions. I know this because I read Macke’s quip on Twitter! As I write, no less than 300 birds are swarming outside my window. No doubt a sign from the stock gods that this will be a major win for my purse. I intend to build into a 10% position, quarterly, or as I see fit.
Now allow me to address the 2.8% bloodshed I took today on the rest of my damn book. The LED industry was completely pulverized today alongside its relatives the solar stocks. The only thing confusing me is the fantastic earnings report out of OESX. They are growing a modern clip, retrofitting companies across the nation with energy-saving light emitting diodes. I always had a sweet spot for this company. Why I don’t own them, I couldn’t tell you. The entire announcement was solid and only strengthens my outlook on the pipeline for LED business. We have RVLT reporting tomorrow, should they meet their lofty forecasted growth, we could see these stocks stop going down. That’s the first step towards going up.
TSLA is getting the beat down. If this surprises you, then you have never been a hot money stud. Hot momentum cuts both ways. Keep your position sizes modest, know where your trade is wrong, and always look to scale profits. I am still waiting for the right kind of weakness to size up into.
I bought more AMBA today only moments before its final afternoon poop lower. That is the opposite of a pop higher. The company is solid. The technology is bringing high quality cameras to an excellent price point and the GoPro camera line is a massive success amongst my age group. Earnings are out of the way and if tech gets over this seasonal cold, I see AMBA as a primary beneficiary into year-end.
BALT traded like it was being pulled under my a massive squid. Thank goodness for my sniper entry. I’m riding this boat until the Capitan abandons ship.
No developments of interest from the rest of my book besides nibbling pieces of flesh off me like I was a walking buffet. I can’t complain, it kind of tickles.
Finally futures trading: I took one winning long scalp at the open and then I sidelined myself once the blood bath began. I am very talented at recognizing when I am out of my element. It’s an education I obtained by donating thousands of dollars to the markets. I am green on the day. I could have been emerald green with a pink top hat had my mind been focused, but I digress.
May the bloodshed continue into the weekend so I can obtain better pricing in TSLA, salutiIf you enjoy the content at iBankCoin, please follow us on Twitter