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?

I have made back almost 10% from the lows of last week. When staring at the abyss, all I could think about was how stupid I was for holding these four horsemen all the way down. Since the bounce, I sold half of my WDAY position and all of my SPLK. I added to YELP (sub $60) and have been very patient with FEYE. I even added a new position today: TWTR.

Part of me wants to go out there and buy PANW, DWRE, NOW, BLOX, YY, DDD, SCTY and all of the other stocks that have been hit. However, I remember the pain and earnings are right around the corner. Should we get some earnings short falls, we’ll be heading right back towards the lows, in no time at all. I believe FB will be a major earnings driver, as well as AMZN and CUDA.

My basis for YELP is $72.43 and FEYE is $65.74. I can add to both positions now; but that would be an emotional move, based upon a feeling of euphoria and not reason. The smart move here, for me, is to wait a little longer. I am not so much hoping for a decline in YELP or FEYE to justify buying more. On the contrary, if they both head lower again, that would be vey bearish for their recoveries. I’d rather buy into strength, knowing the earnings season is going well.

Ideally, I’d prefer to avoid all earnings calls. They make me sick to my stomach, the massive gap ups and downs based upon a single report. Think how stupid that is.

Understand that I am being rational right now, but that can change by the end of the day.

The dastardly bears, the guys long FAZ, pestering me in the comments section and on Twitter, now find themselves in the ‘fag box‘, sort of drifting away into black space. Perhaps I am a bit pre-mature in saying this, on the sixth consecutive up day in the face of underwhelming negative news, but the bears are without legs. There never was an argument to take down my FEYE. It was simply an old tale, told millions of times before, all to do with “over-valuation” and stock market “bubbles”–things of that nature.

Now I know your kind– very overzealous in your actions. You possess a certain avarice for having it your way, almost making you jejune to the world around you. Rest assured, all of the plans that you had coming into today are awash with the blood from your peers.You belong to a weak clan, one that survives only by killing off old members and indoctrinating new ones with dark stories, poison, and of course the specter of fame and fortune.

It is extrardinarily arrogant and narcissistic to believe that a market near all-time highs is on the precipice of collapse, all because you said so. The world, apparently, doesn’t work according to your schedule.

A fool and his money shall be parted forever.

Bastard devils, I find myself up another 2% this morning, almost breaching the down 20% line, on my way back towards the light of winship, prosperity and the god damned American way.

Let me preface this blog by telling you I believe victim less crimes, such as egregious insider trading activities, are punished far too harshly in this country. It panders to populism, the pitched fork guy running naked in the streets after rich people. I do not believe that anyone should have his/her freedom taken away for stupid stuff, like selling XYZ ahead of a bad earnings report. Fine the person; bar them from the industry, but keep the prisons filled with child abusers instead.

Having said that, can someone please be kind enough to explain to me, in layman’s terms, as I am still reeling from the FEYE s-1 filing, how Bill Ackman is allowed to freely admit taking his single largest investment ever ($4 billion), in AGN, while knowing before hand that VRX would bid for the company?

How did Bill know before hand?

He had a deal with VRX in place that said he’d support their hostile takeover?!?

Wow.

It’s good to be King.

I know you’re betting your twitter career on the market topping out and heading into a bear market. Before you tell your mother the news, go look at a 5 year chart of the infamous NASDAQ above and chill out. NFLX is about to report.

I made 0.45% for the day, now off 22% for the year.