The market has been unable to compel me into action today.  Instead I have sat here drinking coffee and watching my peers rip the faces off of shorts with supreme ultra-violence.  My goodness, RaginCajun extracts a solid win off of EGLE, passes the baton to Le Fly and here we are, winning the relay.

One of my twitter buds was all over the shippers move too, well done @Apoms24 on the DRYS.

The day after a huge move, overnight or RTH, tends to be tricky intraday.  Therefore, I sat in the bleachers and enjoyed the view.

Book largest-to-smallest: CREE, RVLT, RBCN, AIXG, Z, MHR, FB, CLF, LO, F, IMMR, MJNA, and O

Cash: 20%

Tickers of interest: YGE, FSLR, ONVO, ZNGA, FRO, END, and GMCR

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Today’s follow through atop yesterday’s move atop last week’s move HIGHER is fueled by pure patriotism.  As I type, the index futures are “giving it up” but I don’t care.  You may in fact be hard up to find a bull who cares, because “the good stocks” are higher; stocks like Fords (sic), Cree, and Apple.

The long wick on XLF and all the jitters it produced have to this point been swept aside, and the financials are behaving rather constructive.

REITS are defying bearish setups, TLT is up, and so is our dollar.  Keep in mind, our jungle informant, deep in the Forex bush, is expecting an ambush on the dollar soon.  Always keep an open ear to Kong.

Pincus over at ZNGA decided he wants his net worth to appreciate, so he replaced himself.  In perhaps the best decision of his life, he hijacked Microsoft’s head of Xbox, brilliant.  I’m constructive on ZNGA henceforth, and will patiently tan my body and plan my entry.  I will likely pepper myself in in 1/2s, 1/3s, or ¼’s due to the nature of ZNGA shares.

My only actions thus far have been tossing fish in the futures, making lunch monies, and scaling off some AAPL shares as we rocketed into the 33ema @ Jerry Garcia aka $420.

I still want SHLD, and I thought your bastards may have beat me to it, but here it comes, right to mama.

ANGI needs to go soon or it’s out, I want to keep my holdings to 12 and this one is, how do you say?  Stalling.

As we enter afternoon trading, the question is, do the bears really want to be short into the kickass fourth of July?  Cover your shares, or face a barrage of whirly birds, mortars, and wolf packs.

Bonus: What’s your favorite firework?  Let me know in the comments below.  I’m going shopping.

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Perhaps it’s the crystal crack meth I’m holding in my portfolio, and the fact that each of them is a loser, but what looks like minor damage on the S&P has my portfolio down 1.5 percent today.  If I was heavy long, sure, that makes sense, but with cash over 50 percent it comes as a bit of a surprise.  It’s like oh hello April, I see you’re coming in like a lion.

So I’ve been forced to take two losses today; first I cut Yelp, and this afternoon Ford.  Here’s the gist, at this juncture, I’m not loosening risk and letting setups work.  Ford very well could turn around this week, but the daily chart is sloppy, and not something I’m lending patience to right now.

Yelp plum fell on its face, as did most of the social media space. To hold even a trace would be a disgrace. I want only the ace. I want the ace.

My holdings now are (by size) CMG, ANGI, AIG, ZNGA, CREE, and old pokey aka AWK.

We could talk about each and what they’re doing, but you have charts yes?  You see much of what I do, no?

Here’s my bottom line: there’s lots of POMO on tap this month.  It’s a strange environment.  As we wind down into the close, we’re getting a b-shaped profile, suggesting long liquation and not much more.  The sellers made progress on many individual charts, but they haven’t taken the big board yet.  Moreover they haven’t controlled the big board all year.  However, this is a new quarter, a page turn if you will.  Therefore we all need to stay vigilant.  Like, why the hell is the Yen so strong today?  Just be cognizant of the environment.  I’m a bit unsure, hence my huge cash.

Be well.

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While Le Doctour has taken the market’s indecision as a cue to back off from his positioning, I have been aggressively churning my portfolio like a tap dancer in a minefield.  Stocks are blowing up, and blowing down.  Stock pickers are totally en vogue as money sloshes around in the market.

Today I sold my remaining shares of LEDS around 1.35 and a brief look back suggests I sold too early.  That’s the problem with knowing a company is complete shit, you’re trigger happy on the gains.  However, a 25 percent gain in two days is sufficient to keep bread on my table.

I bought ANGI back and it started ripping so I bought more.  It’s a full position now, threatening to make all-time highs alongside our historic market.

I closed out RGLD in a passive manner.  I placed a protective stop on the name ensuring I would earn 5 percent.  It triggered and I went on my merry way.  Plus the gold chart looks peak’ish.

Into the bell, @ragincajun dropped some breadcrumbs in the back ally, via the hybrid movers, and I curb-stomped two other bums to get my hands on the best pick, AIG.  I’m long AIG now.

Finally it took every bit of discipline I have to not sell ZNGA.  It’s been flirting with my stop all day.  It’s been trading like a loser all week, but it hasn’t crossed my risk parameter yet.  It’s simple ruffling my feathers in a most egregious manner.  Let’s hope she doesn’t gap down on me.  Come’own everyone, do some hoping for Raul.

Cheers,

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I’ve been busy this morning with the market.  I began running my first algorithm live this morning.  It seeks to define high probability entries for scaling the E-mini S&P contract.  So far so good, it has triggered shorts only all morning.  I’m turning it off now to dig into the data a build macros to chomp away at it.

I got a bit larger than I should have with LEDS into the bell Friday.  The stock stalled out while I was trying to day trade it and I sailed into the weekend with a 10% position.  Good lord.  I spent the majority of the morning liquidating the position down to around a 3% position.  I was able to earn an average sale price of $1.23.  Suffice to say, target one achieved, and I have a runner on should the stock gods offer me some crème.

Then the market continued to deteriorate so I bought more ZNGA.  Try to figure out that logic.  It needs to firm up before the bell for me to have optimism in the name.

Finally, I sold out of YCS, AWAY, and DNKN.  Loser, winner, loser.

Now I’m building a sizeable long in patience as they say.  This is such a corny saying, but I see traders take pride in being patient while others are risking coin, so I’ll consider myself amongst good people.

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Whilst I was away Zynga popped and faded on news that Yahoo was looking to acquire engineers via  an acquisition.  If you bought that news and are now underwater get ready to be squeezed into liquidation.  If you’re new to ZNGA I would like to welcome you to the cocaine train.  Be prepared for spikes of euphoria followed by long stretches of pessimistic stomach churning.  You may find yourself irritable during this stretch, likely because you’re long more shares than should be.

Let me explain something to you: there’s a big head and shoulders forming on the daily chart of Facebook.  This can affect all social shares because Facebook is the goblin and these other companies are mere goons.  What’s a goon to a goblin?  Absolutely nothing.

Play Zynga for online poker and nothing more.  If you’re oversized this degenerate, cocaine addled name, seek help.

As of this writing ZNGA is a 5% position.

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This afternoon word came down that Governor Christie signed the online poker bill into law, effectively bringing the game and its betting back to the internet.  It’s long been speculated that Zynga would benefit immensely from the resurgence of online poker playing due to their existing community and platform.  Forget all that Farmville macaroni.  This is what the company is all about.

Leading into the event, players have been bidding the share price of ZNGA higher all year.  RaginCajun and I have banked a great sum of coin in the name already.  However, our coin pumping in ZNGA may have only been a first act.  If this stock gets moving, it has lots of open air above.

The issue with important news events that affect a company is whether or not the decision has been baked into the share price.  Often this is the case, and even when the outcome is favorable to what participants expect, the shares sell off.  Therefore it’s important to define your risk, regardless of the positive news flow.

I like ZNGA down to three, but that does not mean I have a hard stop in place at $2.99.  Instead I hone my attention into the stock as we near that price, look at how price behaves, and act accordingly.  I added shares this afternoon on the initial announcement, but I’m fully aware of my risk.  You have to ante up to see the flop, and I’m working with a big stack on this name.

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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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Holy earnings blow out.  Look at our newest enterprises, wowing the street with hot numbers.  Zillow and Angie’s List are ripping afterhours, partially because there’s a housing resurgence, partially because they’re the way of the future, the future, way of the future, ehm. Future.  Howard Hughes (HHC) ripped all day.  That was my tribute to the aviation legend.

Fly pens posts like ‘The Amazing Market’ that get me so pumped to bank coin I have to sit in my car for 10 minutes listening to classical music so I don’t put my head through the windshield like Busta Rhymes the first time he heard Eminem.  Get excited people!  These rip-tastic days are numbered.  You need to, “get it while it’s here boy.”

Every time I upload a blog post I feel like I’m a member of the future society.  It’s never a burden.  Just as many Americans enjoy a fecal cruise, I enjoy typing a message to the world then permanently etching it into the archives of the greatest website on the internet.  Future.

ZNGA, Z, YELP, FB, TRIP, OPEN, ANGI, LNKD, take your pick.  One of them is going to double.  Stick to the charts and you can ride along without getting castrated by the inevitable loser.

If you can’t allocate risk capital into this space, you’re bound to miss out.  I’ve been beaten with a dough roller by YELP once.  I cut off my right pinky as a reminder to stay humble (kidding).  But know what type of beast you’re dealing with.  Know the range volatility and position accordingly. 

One can only lead a horse to water.  You best take a drink before Elizamae makes you his main course.

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Let me get you hip to a recurring theme in this market.  If a company beats analyst expectations and rips higher the next session, it will continue to run.  Look at PPC, GS, and CREE for example.  They gap and go.  This type of participation is a blaring signal of high demand for quality equities.  Risk is being put on in a big way.

We had a strong January, we had a funny little Super Bowl with a power outage, and now we have an EPIC SNOW STORM.  All of this happened amidst indices making new highs.

I come to iBankCoin late at night and dig into The PPT, building beautiful watchlists and highlighting industries that I like.  Then the session starts and all of those names lose my interest.  Then, by an invisible hooded force, I start buying social names.  I cannot explain this behavior.  All I imagine is mysterious hooded monks chanting in a dim-lit stone room to the stock gods, willing participants into the social stocks.  Crazy I know.

I’ve been a buyer all morning.  I bought more ANGI up here, I bought more ZNGA up here, and I bought more FB down around here.  I may have a nasty case of rally fever, be forewarned.

Other buys today: HES and RH

I’m eyeing a couple other stocks as we enter the afternoon.  Let’s see how they close’em.

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