Squaring Up on Some Unfinished Business

Whist the waves lap the shoreline, creating a symphony of sound and the fog of salt, I sip upon cheap coffee and let the rising sun kiss my face.  Meanwhile, I am taking this peaceful solstice to survey the field and assess my ongoing intermediate term thesis.

Perhaps it’s the optimism of a Northman escaped to better places, but I feel like I am in a unique position to catch the momentum tiger by the tail in some of the biggest and most marquee stocks of them all.

Take DDD for instance, the dizzle, hotter than the sizzle on cast iron skillet.  It has washed out the masses, even gone out of its way to further eviscerate the knife catching class.  Yet here I am, down a mere 1.2% on a theoretical basis (the joy of scaling in and out, fiddler on the roof style) on a stock that has the potential energy to do 30% up in a few short weeks.  These last two days of price action resemble a favorite trade of our passed friend Madison Montana (RIP, sweet lady) “the pincher” where overzealous shorts pile into the hole expecting continued breakdown only to be faced with the cold reality of a sharp reversal.  The market collects speculative money into a tight, cone-like corridor and then forces said money to trample one another like overcrowded humans behave in primal moments.  In essence, someone is calling the markets bluff, fading the prevailing trend.  Now they must follow through to assert their dominance.  The key is not to be aggressive, but only to assert your dominance over this simple collective beast.  If buyers succeed today with some follow through, there is little to impede them from taking back lost ground.  Even without making a new high, there is plenty of meat to the upside.

In short, after a long swim, I may towel off and buy another allotment of DDD.  Facebook too my friends.  If you like trading from a base, something rudimentary to manage from either the long or short side, look no further than the price action in April relative to the overall context of the FB chart.  Easy to manage.  I am long from slightly higher, nut by no means with the size I intend to have in such a prominent feature of the social internets.  I have not given up hope as many of you have, but instead have chosen to hone it into the finest elements of technology and the future.

I added to TSLA from my iPhone on Tuesday while barreling down the highway in torrential rains.  As degenerate as it sounds, I could see the chart in my brain, and knew I would regret not buying another piece right here if my Nasdaq bounce thesis ensued.  It has not ensued yet, but that is a topic for another discussion.

I still like tier one momentum, even if my money is aggressively being routed away from such hotness.  You cannot shake a coconut off the ground.

Favorite current positions: TSLA, DDD, FB, and TWTR

I desire more shares of DDD, FB, and TWTR.  But I am in no rush, let us see how this short term balance resolves.

P.S. – I am not sure what LO is putting in those vape pens, but it is working.  I am up nearly 20% in my only old man pick.  It earned a nice dividend payment too.

P.P.S. – Look at how they shook me out of Zillow.  These stocks aren’t investable with such ultraviolent manners, unless you are prepared to assert your dominance without being aggressive.  Be cool through the chop and let your wave set up.

If you enjoy the content at iBankCoin, please follow us on Twitter