Category Archives: Stock Picks
Closing Thoughts
Try as you might, you can’t buy RGLD sub 50. Even when the opportunity presents itself, you’ll take to twitter and declare the next plunge in GDX.
Sometimes you don’t understand the force behind a play, but you go along with it anyway. Broadcasting stocks are strong, I bought NXST.
Heptics, get with it. IMMR
Your eyes are important. Take care to keep them healthy even if it means getting away from your monitor to see the doctor. No eyesight = no trader.
Utilities might actually die for bit. Frowny face AWK.
CREE might take some heat next week. I’m ready for that. I’m ready for lots of that. CREE is offering the EASIEST way for our country to reduce its energy consumption. They’re perfectly aligned with our administrations agenda, and they make lots of money. Hard to value but I continue to see all analyst coverage as short sighted.
FB is bracketed. If it comes unhinged and decimates investors again I will me very surprised.
INVN is another great story stock, I’ll tell you over a bonfire soon.
HAIN is quiet, HAIN is good.
DECK made a nice comeback today. I like comeback stories. I smell seller exhaustion.
ANGI has been my second most profitable stock of the year to trade. Who is to say I’m wrong at this juncture?
OMEX needs to find some sunken ship booty, stat.
Enjoy your holiday weekend. Electronic music invades Detroit in a big way every Memorial Weekend. I may partake mostly for the people watching. I’ll be in-and-out, preparing for to crush our shortened trading week come Tuesday.
Feeling Trigger Happy
I have lots of charts setting up how I like. After seeing about 10 of them, I settled upon NXTS, which is a random broadcasting company with a stock flying in the stratosphere. It doesn’t have much of a short float to speak of, but man the chart looks ace.
Anyhow, it’s getting faded into the bell.
I’ll be honest, for there’s no value for me in being deceitful on a web log, it felt like an obligatory purchase. I haven’t felt propelled to buy much all day. Perhaps it’s the Memorial Day, perhaps it’s the price zone we’re in. I’m not entirely sure. Maybe today would have been best spent foraging through the woods for mushrooms?
I like ANGI and I’m glad to have more in on that name.
I also bought INVN, same look chart wise, but actually a company I’m into. It’s the combination of interest in a company and an enticing chart that gets me excited.
It’s a modest green day, surprisingly enough, which makes me feel like we’re still in a market of stocks, and not just a perfectly correlated mess. For now I’ll take it.
Chopped and Screwed
I had three signals fire premarket that were victims of a choppy market, and were all stopped. Then when things got moving, the setups were of a nature which I still trade in simulation, and no additional live trades triggered.
Ironic as it may seem, all this early movement was not captured by the Raul.
Aside from the futures, I’ve added to my ANGI long. No other trades yet to report.
This is a Lovely Room of Death
Guys, there must be down days. And when we’re in the stratosphere, atop the treacherous K2, guided by our Sherpa—gentleman Ben—and a group of extorting Sherpa come and kick your pack mule down the mountain and demand monies…there’s going to be some casualties. You may need to hunker down low and take some hits. You need to be ready to sweep the leg.
As traders, we’re paid to take daily beatings from the market. It hardens you. HDGE was my worse loss of the year, trimming a cool three percent off my high water mark. Guess what? I crested my portfolio over that mark since then, and now I’m off my new peak by two percent. It happens fast. You have to keep your wits about you.
This may be the start of a peak-to-trough environment. This can last weeks. WEEKS! Oh the humanity. But before we can say that with any kind of confidence we need to see price acceptance below TWO, you heard me right TWO major areas of balance which are way above where this market could pull back and still be considered VERY constructive.
I’ll look at the primary and most actionable balance distribution in the morning.
These Stocks:
I booked some winners that were lingering, some losers that were fingering, and some scratches that were carrying curious implications.
YELP was cut early. It was crowded, that’s how crowded flag breakdowns play out.
RGR was an early sale too. I caught the swing low, it’s been dead fish forever, when that first crazy sell frenzy happened in the spooz this morning I booked it.
I sold JRCC as it butted up against resistance. The Plan says I must sell logical price levels, even if it’s my last piece. I can always buy it back at a better price, at least that’s my mentality.
I booked GS because the devil’s been shorting it, I had 6 percent plus gains, and the daily candle looked nasty. Financials have been a big driver of this move, we could rotate out of them and still see the tape flat/higher.
I sold SCTY late afternoon, after adding to my position early. Net-net I make over 10 percent playing this crack rock. Awesome, except it was good for over 20 percent at one point. A win is a win, I suppose.
I added to my CREE investment. They’re a great company. Remember, this is a multi-quarter hold after booking massive gains in the name trading style Q1. I’m wearing my investor hat on this one. That being said, it also printed a nasty daily candle.
I caught the breakout in IMMR early. It’s this type of aggression that allows me to not experience much emotion when the breakout sputters out like this one did. It has Fly power behind it, so I’m giving it room.
Bottom line: you’re surrounded by algorithms wielding meat cleavers, protect your neck with profit scales and stop losses. My cash pushed way up into the bell, damn near 50 percent. I don’t like lazy cash so I’ll be hunting tonight.
This is a Lovely Room of Death
Guys, there must be down days. And when we’re in the stratosphere, atop the treacherous K2, guided by our Sherpa—gentleman Ben—and a group of extorting Sherpa come and kick your pack mule down the mountain and demand monies…there’s going to be some casualties. You may need to hunker down low and take some hits. You need to be ready to sweep the leg.
As traders, we’re paid to take daily beatings from the market. It hardens you. HDGE was my worse loss of the year, trimming a cool three percent off my high water mark. Guess what? I crested my portfolio over that mark since then, and now I’m off my new peak by two percent. It happens fast. You have to keep your wits about you.
This may be the start of a peak-to-trough environment. This can last weeks. WEEKS! Oh the humanity. But before we can say that with any kind of confidence we need to see price acceptance below TWO, you heard me right TWO major areas of balance which are way above where this market could pull back and still be considered VERY constructive.
I’ll look at the primary and most actionable balance distribution in the morning.
These Stocks:
I booked some winners that were lingering, some losers that were fingering, and some scratches that were carrying curious implications.
YELP was cut early. It was crowded, that’s how crowded flag breakdowns play out.
RGR was an early sale too. I caught the swing low, it’s been dead fish forever, when that first crazy sell frenzy happened in the spooz this morning I booked it.
I sold JRCC as it butted up against resistance. The Plan says I must sell logical price levels, even if it’s my last piece. I can always buy it back at a better price, at least that’s my mentality.
I booked GS because the devil’s been shorting it, I had 6 percent plus gains, and the daily candle looked nasty. Financials have been a big driver of this move, we could rotate out of them and still see the tape flat/higher.
I sold SCTY late afternoon, after adding to my position early. Net-net I make over 10 percent playing this crack rock. Awesome, except it was good for over 20 percent at one point. A win is a win, I suppose.
I added to my CREE investment. They’re a great company. Remember, this is a multi-quarter hold after booking massive gains in the name trading style Q1. I’m wearing my investor hat on this one. That being said, it also printed a nasty daily candle.
I caught the breakout in IMMR early. It’s this type of aggression that allows me to not experience much emotion when the breakout sputters out like this one did. It has Fly power behind it, so I’m giving it room.
Bottom line: you’re surrounded by algorithms wielding meat cleavers, protect your neck with profit scales and stop losses. My cash pushed way up into the bell, damn near 50 percent. I don’t like lazy cash so I’ll be hunting tonight.
That.Was.Awsome
These morning markets, I come to them every morning. Much like The Zen Hunter alluded to about surfers, it’s an obsession—every day hunting waves to ride.
I put up these profiles, looking for where the waves can kick up. Boy did a wave kick up today! I have wins on both the long and the short side, easily my best day ever, earning 10 S&P points. It was fun too. And I stuck to the plan all but once. My one deviation, an attempt to knife catch that free fall, was my only loss on the day. So be it. Stick to the plan or lose money.
Anyhow, that’s why we do all this work, for days like today. They’re calling this the blow off top already. I’ll hold my judgment for now, but I did cut my RGR and YELP longs in case the afternoon gets a little Nightmare on Elm Street.
Let’s look at these stocks and see what’s working.
Getting Faded
It’s been another action packed day, albeit in a more concentrated bit of stocks. I almost looked wrong in boasting about my sub $50 RGLD purchase when the morning dipped briefly below. It should be noted that this was again a buying opportunity. Although we’re not out of the woods yet on this long position, it has constructive written all over it.
YELP started flagging nicely just below $32 around lunchtime. I added to my long thinking, “this is a good looking flag.” When I took to twitter to blast out my actions to the world I saw no less than four traders talking about the exact same breakout. The move was faded.again. This trade could flush lower, just be aware of that. We are all seeing the same telegraphed pennant at 52 week highs. Build a solid risk profile.
I thought my reasoning behind staying long JRCC was interesting, but it received zero airtime. If you’re into market dynamics, check it out. I scaled a piece around the three handle and have a 1/3 runner left on the books.
I closed out CRZO because it printed an ugly daily candle. I’m looking for constant gratification up here in the froth. I’m not looking to wait out and peak-to-trough foolishness in names that I have zero conviction in beyond price.
Ironically enough and completely contrary to the prior paragraph, I held my SCTY runner and watched it melt like a cheap ice cream cone down 12 percent. The position is still 8 percent in the green due to a sweet entry and there are gains booked to back it up. I’m not going to let one down day scare me out of the cocaine party. It will take at least two.
Final thought: A cheap ice cream cone? Does an expensive ice cream cone exist?
Talking Market Dynamics in $JRCC
I like situations like JRCC. The setup appeared on no news, but I could see buy flow coming in. Then you get a major development, one favoring your position and you get instant gratification.
But should you sell? I always do, but not the whole thing. The event completely throws the stock price out of balance. Their slate was wiped clean of a looming going concern. I don’t even know if they had a going concern statement in their financial statements, but they were teetering on the brink, no doubt. So now what’s the company worth? I couldn’t tell you, nor could I care less. I know fundamental guys, debt gurus, hedgers, and directional gamblers all have to come to market a duke it out to determine value. And that means we’re going to see vertical development, both ways.
Once I’ve cushioned the position with nice booked gains, I can sit back and see who prevails in the fight. I can cheer for my side, but I swear no allegiance. I’ll just as soon cut if the sellers prove a more formidable force. For now things are looking good.
Tell Your Kids about Raul’s $RGLD Buy
It’s important when raising children to not only highlight victories but to exemplify the winners. You do this because, well, you want to live out your golden years vicariously enjoying the benefits of a successful child.
Some of you want your kids to excel at sports, so you point out athletes. You’ll be like, “Son, look at Joe Montana, he never kissed his biceps and he has four Super Bowl rings.” But I know there’s a small group out there, likely reading iBankCoin, who want their children to have a strong market hand. Skip the Wizard of Oz tonight. Instead pull out this post and show them how $RGLD traded below fifty dollars for a short time. Point to the chart and tell them a wise man named Raul bought those sub fifty prices.
Tell them how special that is and how rare surgical precision is.
Here’s the targets. I’m risking about 10 percent:
Hot Trading Action in The Stocks
Stocks are strong right out the rip this morning, with the S&P tide pushing all these jet boats (momo stocks) higher.
In the futures, I’ve traded four contracts, all to the long side, earning 1.5 handles, 3 handles, 1.5 handles, and a runner. UPDATE: Closed the runner, 3.25 handles.
I kicked out SAM after initially thinking I would make it an investment. I don’t want to be invested in SAM. I like Pabst if I’m going low end, New Castle if I’m being normal, BUD for sports drink, and anything brewed at the micro capacity from Michigan all the time. So why own SAM?
I sold LOCK too because it had a chance to be great and it decided going sideways was cool. What a wimpy stock.
The solar trade is complete madness. I love it. These ‘late stage” conditions give a huge edge to the small trader who can ferret in and out of the crazy names. My wild boy is Scotty. SCTY is the proverbial stone that kills two birds, giving me a piece of Elon’s sweet ass and solar exposure. With that in mind, I’ve taken two scales, and am down to a runner on SCTY. You guys are crazy so I want to see how far your crazy gets me.
Don’t sleep on JRCC, it’s way out of balance after we learned Friday that they bought a little more time in their debt structure. I want to see the imbalance push higher, obviously.
New longs are YELP, and CRZO and cash is low low low, 25 percent.
