My office was rife with distractions today as the typically quiet folks of finance dipped into a barrel of beer and invaded my workspace all-too-frequently for its VIP view of the streets below.  Damn these fools, seriously, they’re demented humans who don’t get out nearly enough.

Pair that with Multicharts having an impromptu mandatory software update, and I was rendered useless in the futures market after the clock struck ten.

I’m brooding so hard right now.  But what the hell, everyone’s having fun, yes yes yes!?  Ben told the bulls, “we ridin’ round we gettin’ it.  It’s mine, I spend it.”

Ben put his flex on like an old tiger in his last fight—he’s not losing.

The S&P pit session was quiet today, but really fluid and without nasty trap action.  It went directional downward early on, and anyone with a brain would be trigger happy on their shorts, taking profits given the context.  So when a new low was never set, the market never even enticed chasing the shorts.  Then it marked time all session, then put in two nice little rotations higher to close out the day.

I missed the afternoon rotations, hence the brooding.

Perhaps that is why I bought BPZ at HOD today but let me explain a bit more.  They say if you feel like you’re missing out on the action, it’s already too late.  When I pulled up BPZ this afternoon, I didn’t feel a sense that I had missed anything.  I see this type of setup all the time, yet I never take it.  A stock launches over 10 percent higher in a single session on strong volume and closes near the HOD.  The next day it makes an even BIGGER move.  Pair that with the following bullet points:

1.) http://ibankcoin.com/flyblog/2013/07/10/a-titanic-shift-in-the-oil-markets-are-underway/

“On the other hand, surging oil prices is good for a number of sectors, such as solar, alternative energy and good old fashioned exploration plays who bank coin off the price of oil going higher.”

2.) It showed up on three of my favorite PPT screens too, including receiving an upgrade to BUY.

I’ll quickly run through today’s portfolio adjustments:

I took my first scale in O.  You have to get paid when the market pays you.  Now the move can either continue progressing or digest for a bit and I’m chill.

I took my first scale on TPX.  It’s still my largest position and top pick.  Next target is $50.

I bought PRLB, INVN, and BPZ like a cheetah chasing a gazelle.

I took cash down to 12 percent, and my positions, listed largest to smallest are as follows (top picks bolded):

TPX, FB, AIXG, INVN, DDD, F, Z, IMMR, CREE, PRLB, SD, BPZ, O, ENPH, YGE

I want some EXK too, call it position overload.  I did this last time we peaked out…FYI but I won’t be fooled twice.

EARNING’S SEASON STARTS TOMMOROW MORNING-PREPARE FOR WAR

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I was having a modestly red day in the futures, but I stuck around and traded through the Ben, and now I’m happy to go home very green!

I bought two dips, sold two rips…Ben is a really good guy.

There was so much selling pressure today, especially after the FOMC pop was faded, that I knew any upward momentum could get these shorts running for their dear, stupid, lives.  And Ben delivered the crack rock.  As a matter of fact, he’s not even satisfied with the 6.5% unemployment threshold initially rolled out during the taper talks.  He’s convinced we’ll need to keep on easing well beyond that, blessing the market with capital gains until everyone is back to work.

Obviously this news is very bullish for TPX because, as unemployment drops, procreation must increase.  The safest way to procreate is within the confines of your bed.  So get a nice one, yes?

Anyone want to take bets on where we open tomorrow?

It’s a long way until 9:30am…

I’ll quickly run through today’s portfolio adjustments:

I dumped AAPL for a scratch after riding the name through a trough.  I can’t get excited about this name because it’s literally falling behind the power curve.  That’s dangerous in any business.  My assistant mocks my ghetto 4s about once a week and then changes the channels with her Galaxy.  It has the infrared beam like your teevee remote.  Plus I wanted to sell it at yesterday’s low, so why not sell it today, near the highs?  It can go to $1000 and I still won’t regret this decision.

I scaled off some Z as it pokes around near the all-time high.

I cut my ANGI long because I don’t have patience for it when YELP is crushing, Z is crushing, and ZNGA is flirting with me.  What was once a 6% gain was booked for a 5% loss.

All of this left me feeling cash heavy aka homo erotic.  So I scuttled into DDD and SD.  DDD is ¾ size and SD is ½ size.

I closed the day 80 percent long with TPX of course being my largest position because my top pick continues to be TPX, got it?

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