I am from the school of thought that third time is always the charm. Twice, I have bought the dip off a peak in the NASDAQ and TWICE I have been on the receiving end of a proper facial correction. My greatest fear right now, as the market lets off its final throws is that I will have to buy a big gap up tomorrow.
I am afraid I am not long enough. There I said it.
I was too long the other two times, and now I am not long enough to capitalize on my turn at buy the dip on the donkey.
You should have a list of high priority stocks, preferably ones who already reported earnings. I want pure, uncut social crack rock so I will be e-stalking Facebook. I need it to compliment my Z, ANGI, TWTR, and SINA. My collection would be complete, like getting the Master Splinter slammer to complete you TMNT pog set. It has to be done, even if it costs you a month’s wages.
I have to make a decision about this NFLX put too. I will take luck over skill any day, but the harder I work the luckier I get. HBO signed rights off to Amazon prime leaving everyone to wonder, is NFLX losing its clout? Have they only built a House of Cards? Groan all you want, I am not jiving this company at all. It rubs me the wrong way more than any other momentum stock. I scaled ½ my puts today.
ANGI reported very inline losses. Bravo ANGI, you are really good at sticking to your forecasted numbers. This may be enough to snap this old girl out of her funk. If yes, then I stand to benefit.
I have some YELP calls which are about worthless right now. They will be worthless unless the price of YELP is greater than $69 by Friday. I am not sure any amount of hard work will produce the type of luck I need to see this play to victory. Good news is I am trading well—I scaled ½ this position off when it went back to break even yesterday, after it quickly became a loser. This is winning while losing. It was at the same time I scaled some DDD and SINA which I now need to hurry up and buy back.
That’s the plan. Let me restate the plan in case you lost track: buy FB, buy back the shares I scaled in DDD and SINA (fiddler on the roof trading), and brood harder then Ryan Gosling about this NFLX put.
Futures trading was red on the day, I lost -12 ticks or 4 points. I am getting better my friends. Much much better. Of course once this simulated numbers are complete I have to lop off about 25% for slippage. If this new strategy still stays green after this calculation, well then, it’s time to go live. Great excitement!
Final note: if I seem a bit light in the loafers today, then it certainly is because I sidestepped the blood bath in CREE. You may or may not know that a short week ago CREE and RVLT represented about 25% of my portfolio. As of Monday afternoon, they represented zero percent. Very nice, very clean. I am still an LED man, but I will very carefully get back into these dorks.
What’s your top pick into my hypothesized rally? I still like TSLA, but my top pick is stretched and resilient Zillow.
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Raul, exciting times. Your LED sidestep was spectacular. It’s happy hunting right now, but there’s something about $TSL that makes me keep dwelling on it. I’m wishing I had picked some up today, but was waiting to see if I could get it a little lower….probably not.
Trina is a tricky one, Unc. Looks like a deal down here but one must contend with cutting through all of the supply above. But it looks like TAN can get moving here and Trina too. Trade’em well bud
Very nice timing on that exit, Sir Raul.
~Sir Soozy
(ribbing RC here)
😉
Have a great day all you Beautiful People