One of the qualities we often strive to achieve as traders is objectivity in our analysis.  Consistently evaluating a price chart or market profile in an objective manner is invaluable to the trader mentality.

I was bullish on TSLA into earnings.  The truth behind my bullish bias is so obtuse your average analyst would scoff my person.  Your stellar analyst would get hung up on interest rates, obscene valuations, and excessive sentiment and never participate.  But my bias is simple: I booked 7% gains on ½ my position and had a 10% buffer on my holding into earnings.  I bought TSLA last week for one hundred and fifty eight dollars, do you see how nice a good entry is!?

It helps keep my objective.

TSLA is going to trade down for a while.  If we are lucky, it will come to terms with reality and really panic out the weak hands.  I would forego a beach vacation to acquire TSLA at 137 and I live under the eternal cloak of Michigan grey skies.

In sum, I am a buyer of weakness in TSLA, may it be extra bloody.

Moving on to more pressing matters, why is my chicken failing to arise?  I must evoke the voodoo of large numbers this evening, perhaps by offering sacrifice.  Sometimes it comes to that.

I noticed everyone is chilled out on the whole LED industry.  This makes me a happy person.  I put my gentleman’s size back on, nearly a full position, in CREE today.  It was my only portfolio adjustment on the day.  This will pair nicely with my RVLT (earnings on deck)and VECO longs.  Those goombas running VECO crack me up.  Goombas I tell ya!

I bought the swing low in BALT last week, it is official.  This entry has afforded me the opportunity to participate in earnings much like I did TSLA, with little to risk but my hard-fought market gains.

I traded the /NQ futures well, but took a loser in the /ES.  I was still green today, and all trades were fantastically in adherence to my trading plan.  I liked the day structure right up to the close where sellers piled on the bid again.  There are very aggressive, active sellers at the open and close.  Who are these maniacs and will they win their trade?  Stay tuned to find out.

I have many good positions, and I am 90% long.  I was flat on the day.  I need to generate some alpha soon so I can continue living the champagne lifestyle.

I’m off to stand on my head for a few hours.

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There was an interesting occurrence this morning right before we printed the low of the day.  Price traded down to the overnight lows and then completely stalled.  This was right about when the POTUS took to the podium.  Then, as I had suggested may occur, we breached the overnight (yesterday) low briefly, the flow of stop losses created a temporary oversold condition, buyers reacted to seeing the weak sellers and a sharp buying tail printed on the /ES market profile. We also snapped the following trend line lower, finally:

I bought the YGE full sized amidst all this.  It was very lovely execution that brings a little sparkle to Raul’s eye.

The velocity of the move was enough to put plenty of shorts in the hole.  It should make for an interesting afternoon as value is being set higher then I expected in my scenario 1 balance hypothesis.

With today’s YGE purchase, I am about 85% long, mostly crack rock stocks—stocks like CREE, RVLT, YGE, AMBA, MHR, FB, RBCN, and CLF.

Can you believe I am nearly up 100% on my FB common?  I’m holding steady until at least $100.

The weak-to-strong closing type would be a change of character in the recent market activity and we may be looking at an inflection point.  It is a bit early to tell, but I like my aggressive positioning here.

I intend to use my winnings to finance the purchase of a Tesla Model S, the greatest automobile currently in production.

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I’ve come to live by one saying in today’s markets and it’s, “get it while it’s here, boy.”  Because in complete honesty, any spectacular hype surrounding pockets of momentum won’t feel the same next year, week, or even hour.  When a stock is hot, it’s hot.  Higher highs, higher lows, and cocaine dances.  When it’s not, it’s National Bank of Greece.

We are undergoing a slight bounce back after a brutal five percent correction.  Did you blink?  You may have missed it.  As investors peer out of their bunkers, weary from the bombs dropped on their person, they see a strange sight.  It’s Sir Raul, dressed in ceremonial red marching regalia, tap dancing through a mine field.  The sight is so unexpected, so beautiful, they don’t even reach for their gun, they simply watch.

Just as I clear the field and hunker down into a foxhole with many women and Chairman Mao! You come to your senses attempt to clear the field.  You saw the path I took, you see how effortless it was.  You go for it.  Only at that very moment a B-52 bomber blankets the entire field with liquid hot napalm.  You’re dead.  Keep that in mind.

I’m nearly filled to the gullet with high spec, high momentum names.  Names like YGE, FSLR, DDD, YY, LEDS, and more.  I’ll either party all week long with The Chairman, or suffer the very possible drone strike after the NSA hones in on my cell phone whist I order pizza.

It appears the market has gone completely stagnant as I write. Regardless, PRESS THE BOOT!

The only stocks sold were those that will not aggressively appreciate in value.  I cut AAPL and TSLA.

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It has been a very interesting week in the markets thus far, and the bounce we saw off the lower gap gives us a sense of the demand present for equities.  I don’t like many charts out going into Friday, but a few stand out.

I bought shares of TSLA – I want to see the stock rise soon as we’re dealing with a momentum situation.  Without momentum this name gets dangerous fast.

I like China stocks of the burrito variety.  They shrugged this correction off well as a whole.  My favorite is HMIN and I bought more.

I’m still about 50 percent cash, but I want to get involved in case the market decides it wants to test the all-time high again.  Hey, I’ve seen crazier.

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The dip in solar stocks is looking smooth and buyable so far.  I’m not kicking over shopping carts and earning the scoffs of housewives like when I go after the last rotisserie chicken at KRO at 8pm (near market close) but I am reading the labels and deciding if I want to add another solar to my cart.

As you know, I’m still long shares of FSLR.  I think this stock has big upside potential, but it may need a bit more time before setting up for another leg higher.  In the meantime, shares of SOL and STP are trading well.

I bought back my CREE position this morning.  Why sell a winner?  Stupidity that’s why.  I need to get better at sitting on 10%+ gains like the noble Senior Tropicana.  Other morning actions: I sold some of that ZNGA I added yesterday and paid for a weekend of booze, bars, whores, and debauchery in the process.  As Fly will tell you, market gains are to be used for the superfluous only.  Don’t be a bish about getting it while it’s here, boy.

Also, it turns out the earnings reaction in TSLA was, in fact, an over reaction. Developing…

Have some charts you freaks:

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It was a pretty interesting day to be a trader.  The sellers made themselves known early by pressing their bets as my plan leaned toward.  I can’t see the market as clearly at 4:15pm as I can at 4:15am.  I don’t know, perhaps the fatigue of juggling corporate job, playing hand grenade hot potato with stocks, keeping tabs on my enterprise, and staring out the window at the salty landscape below fade my edge by afternoon.  But when I wake up and turn on the markets, they’re so clear, OLED HD clear.  You should read those AM posts, they even surprise me.

I was an early seller, cutting more losers out of my book.  I cut Citi, Facebook, and Cree.  Cree was a ten bagger.  It was a fourteen bagger last week, doesn’t matter.  Then I sashayed into SRS (ultra-short real estate ETF) on the first dip of the day and swung it trough-to-peak and sold like a boss.  It felt nice.  It felt nice booking two winners today.  You know what else felt nice?  Seeing Restoration Hardware continue to get the homo hammer to the head.  Winning while losing.  Facebook turned into tank book after I sold it too.  Hell, I’ll take it.

After all the above was said and done, I was around 60% cash.  It felt too heavy, having that much cash, so I went hunting.  One of the advantages I have being an independent trader is position sizing.  I can get in and out no problem.  One of the disadvantages, in my opinion, is I can end up having too many names in my book.  Too much to keep track of.  I was cognizant of this early this year.  My goal then was to gamble a bit, but eventually build into 5-9 core holdings.  Before yesterday I had fifteen.  So when hunting, I looked first at my existing positions, where they have gone since origination, and whether I could add.  I’ve booked two solid gains in Zynga and was sitting on a legacy position up over 30%.  Sure it could go back to its horrible 10% slasher-horror antics, but it shrugged these last two days off.  Thus I bought more.  This is however, slightly uncharacteristic of my style.  I usually wait for buyers to step in and confirm support.  That’s something I now have left unknown.  Thus the position is not full sized, but instead ¾.

Then I bought TSLA because the earnings reaction felt overdone, it’s near a risk I’m willing to wager, and there was heavy volume lifting the offer into the closing bell.

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