Ladies, gentlemen, please…allow me a moment to address the market.
You may not make it down to the Raul blog often, but I reside rather gingerly on the front page of iBankCoin. I know that my continued existence in these hallowed halls amongst the finest strangers the internet has to offer depends on one very important matter: banking coin at criminal rates.
After exhibiting complacency two weeks ago Friday I have been on the receiving end of a severe bludgeoning via shares of PPC due to a salmonella scare. I regret to inform you I was forced out of this position today and took a large loss. Let’s talk about large losses.
This was a ten percent position and I stopped out at twelve and a half percent. Math:
I lost 1.2% of my account value. Part of me wanted to ride the stock into earnings for the glory. I envisioned myself riding into town on a chicken-drawn chariot with plebs laying olive branches on the street. Upon reaching to town square I would be handed the ceremonial staff to perform a blessing of the populares, restoring balance to the social classes.
But in a rather stoic manner I cut the shares loose. Because the truth is public perception is fickle. Many of you are simple, as am I, and lack the resources or time to give a company a full fundamental shake. I know inputs to making chicken meat are down across the board, but so does anyone else who analysis this company. Elon Musk set a new standard with his quick assessment and public response to the Model S fire and now I expect the same from all companies. I get Old Wall Street silence instead. So PPC and its shareholders can go fly a kite for all I care and I’m back in the sewers, hungry as ever.
I cut LEDS too. Perhaps the critics were fiddling with their catalytic converters when I scaled 10% profits one day into my campaign. That would justify tossing tomatoes in my direction when I cut my net position for a scratch.
Finally, I cut SCTY. Let’s say you love bath salts but all you can find on sale is old fashioned Mexican speedball. You decide something is better than nothing and in your constant urge for instant gratification you gobble like ten Mexican speedballs. But since you want that bath-salt-bug-eyed rage fueling your body while you chew arms off hobos, you find the speed only providing an uneasy feeling in the pit of your stomach. That’s why I cut SCTY for a 3.4% loss.
My final move was buying a modest allotment of AMBA shares. Morgan Stanly flip flops and the investment community dumps Ambarella? GMAFB. Well actually, you did give me a break because this was an opportunity to get back on board stock in a great company. I liked it at 22, why wouldn’t I love it at 20? I am a buyer of further weakness.
Now I have 22% cash power to buy some blood and a stable of stocks fit for an entrepreneur. Largest-to-smallest friends, largest-to-smallest like always:
GOGO (huge), LO (+15% what?), ONVO, WLT (Walter), RVLT (a love/hate), AMBA (SAIL!), SFM, CREE, SLW, F, FXY, IMMR, MJNA, and the big O
That is a hot look. I like this basket of stocks. I have a few names I want to add to the pot to get back to full long exposure but I am content to ride into tomorrow’s spooky trade with some cashish. The Fly’s ALJ has the look, FB is making ATH after hours, and YELP is at a slight discount.
FINALLY: YOU SHOULD COME INSIDE 12631. There is a free trial tomorrow and Friday ONLY. I do my best work in there with little-to-no shenanigans. I would love to see some of my twitter buddies in there. The password for the free trial will be released at midnight, so you vampires can come inside tonight and kick some ideas around and us normal folk will see you bright and early.