Now that the market is rebounding, I am looking at a few things to keep me 110% long, as I attempt to claw back from a 30% deficit.
1. Facebook’s earnings. I feel good about them and expect them to beat and guide up.
2. AMZN and Apple earnings. They aren’t very important for momo names, more for the general health of the economy.
3. Alibaba’s IPO.
Bar none, the most important of the three, for Wall Street upright walking pigs, is the latter. This is going to be the biggest tech ipo ever. It might fetch $200 billion. I put the chances of the market being uprooted, from now until then (possibly next week), at a stiff 0%.
Now that we know David Einhorn is short a “bubble basket” of stocks, it’s only apropos for them to rip tits to the upside with reckless abandon, no?