With the Nasdaq switching pace to fast, I want stocks that are slow. It is summertime, after all, and where there is smoke we are much more likely to see fire and a bear wearing a silly hat. Said bear becomes seriously perturbed if you trash a campsite with beer bottles and carelessly leave your fires unattended. Said bear finds you, and beats you with a shovel.
Those were my very logical, well thought out—thoughts today. In their wake lies one change to my portfolio—I scratched EGLE and started a position in COST.
Costco is the bane of my retail existence. Somehow, I cannot escape their efficiently lit warehouse aisles without dropping half a stack on groceries, home items, and clothes. Given the overall tart sentiment for retail, and the slow nature by which Costco shares trade, historically, I started buying into a company I have long supported.
However, I feel my foray into the shippers is still green both in money and age. I will continue stalking the space, and more than likely re-enter.
The move I have been waiting for in the NASDAQ futures for several days happened, and I was not prepared to capture it. I made too many errors early in the day, was too far inside my head, and as a result the move I theorized played out with me on the sidelines. The contract is bidding up after hours, ahead of The Fed releasing their balance sheet. We are over 20 points off the lows. What does it all mean? I am not sure, but my book of stocks was green as spring all day, despite the weak NASDAQ. Someone is not being truthful in this market of stocks.
If we return to the intermediate term balance we broke lower from, in short order, you best believe we rip clean through the other side of it. Then we will see the ramifications of the Full Moon Friday the 13th visited upon the cerebral lobes of bears on a global scale. Be careful out there.
Here is my current book, one that is down for the year and olde in stature:
By size, of course, largest-to-smallest:
TWTR (so committed), LO, MNGA, COST, TSLA, WM, UGAZ, HOS (I’ve got), XON, JAZZ, FEYE, and CREE June 47.50 calls.
If you enjoy the content at iBankCoin, please follow us on Twitter
I picked up those same CREE calls heading into the closing bell, hopefully they’re fruitful
Well, I paid the same price for them a few weeks ago, I am not sure what that means, but they have held their value for quite some time.