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:
“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.
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