There was nothing about the way the market closed yesterday which suggested we would gap-and-go higher today. You have to take every indicator, every puzzle piece if you will, in context. It is important to not base your decisions on any one single indicator or seasonality statistic or favorite blogger pick, but instead to build a comprehensive knowledge of the market and its stocks.
You can achieve this rounded understanding by keeping your browser dialed into iBankCoin.com where a band of pirate-like capitalists cultivate an environment of winship and tenacity.
I started intiating risk yesterday afternoon after noticing a subtle shift in the behavior of “the seller” in the NASDAQ futures. Where she so often struck with great vigor and gumption, she instead gave a limp-wristed shove. I was shocked. I was sitting in my chair, watching dearest Elroi trip over himself to cover the robot short, the same afternoon short that was bread-and-butter for weeks. That was the first bit of context.
Then today also happened to be the first of the month. You need to hammer a few calendar dates into your brain: the first trading day of the month and the Thursday before option expiration. These are shenanigan days and you need to- be ready for anything on them.
The buyers came in at the opening bell and prices drove higher, the action was abundantly clear to be of the long term participant variety. Given the context of an off kilt seller yesterday, and the vigor of the long term buyer today, I made the executive decision to intiate an aggressive amount of risk. What risk, exactly? Well I’ll tell you:
YELP & Z calls and YGE stock
I swapped out most of my ENPH for the YGE so it was actually only a lateral move. Here is the rest of my book, for better-or-worse:
Calls: TSLA (weekly), ZNGA and FB (April)
Stock: RVLT, LO, GOGO, TWTR, CREE, AMBA, OESX, IMGN, LEDS, HEMP, and GRNH
That makes 17 positions. I will look to consolidate that sooner rather than later. As soon as tomorrow, as a matter of fact. Let’s see if I can make some pesos tomorrow.
I was up 2.6% on the day.
Cash is 6%
Pants are off in anticipation of oculus rift. I have to step up my FaceBook game.
If you enjoy the content at iBankCoin, please follow us on Twitter
Love that you still have LEDS homie. Think it just you and I left across the entire iBC network. Haha. Good band/song too. Great minds think alike 😉
It’s part of the LED empire and it would really have to screw me over to bounce. I peeled off a piece on the last rip so I figure what’s the rush? Glad to hear you’re still with it. Yes, yes, indeed they do
We must have been speaking telepathically as I treated myself to some YELP 85 weekly YOLO lotto action at 0.25 today just as you were writing the previous post.
The Eagles of Death Metal is as misleading a band name as “Punk as Fuck” is a song title by American Analog Set.
http://youtu.be/yGO2x7WT_i4
I love DDD here. I prefer a lady with curves.
@JPM: I have a small piece of RVLT remaining. Have been tempted by CREE many times, but it just never ‘felt’ right.
That’s because you can only keep a good stock down for so long and we both know it.
Totally misleading, but sexy as hell.
The LED trade has been so dead money for the last three quarters, it’s hard to participate. I’ll be the first to admit that. I love OESX though, this stock trades in a total microcosm to the rest of the broad market/LEDS. Check it out on the next broad-nasty day.