Fuck it, I changed my mind, with regards to my current positions. I’ve been toiling over my current structure and, frankly, have been in denial for too long. I have been slowly bleeding out for about a month now, so it makes little sense to continue holding onto bullshit depreciating assets.
I have decided to build around certain names and use the proceeds of my sales to fund my new investment thesis. In other words, I have been slashing and burning through my positions, going to cash, in order to accumulate core positions at a discount and new names on the cheap. The reason for this shift is very simple: everything is dropping now. Therefore, it makes zero sense to hold onto low quality crap, when you can buy high quality crap, at a discount.
Hence, I sold out of Trident Microsystems, Inc. [[TRID]] , GameStop Corp. [[GME]] , Ingersoll-Rand Company Limited [[IR]] , Umpqua Holdings Corporation [[UMPQ]] , Sify Technologies Limited [[SIFY]] , [[CNXT]] , Arena Resources, Inc. [[ARD]] and Finisar Corporation [[FNSR]] . I’ve decided to stick with, through good times and bad, Flotek Industries, Inc. [[FTK]] , [[ENTR]] , Atmel Corporation [[ATML]] , Corning Incorporated [[GLW]] , OmniVision Technologies, Inc. [[OVTI]] , SandRidge Energy Inc. [[SD]] and salesforce.com, inc. [[CRM]] . For the moment, I am holding [[UNG]] and [[ERX]] . However, they are trading positions and subject to sale at anytime.
With the proceeds, I will likely nibble at some of my core holdings, but in a patient/methodical manner. More importantly, I will commence building a portfolio of select tech names, at a deeper discount, if possible.
Based upon past statistical data, The PPT is suggesting the market will bounce tomorrow, or at a minimum, sometime very soon. Therefore, I will not be adding any shorts to the mix.
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Dennsi Kneale is a ____________
fill in the blank.
TCK limit order might be lowered… If you don’t like CNBC why do you all watch…. Bloomberg tape is much better…
Dennis
How could this post not be titled the Dennis Kneale top?
Sacrebleu!!
GME keeps knifing lower.
GME is an accounting fraud waiting to happen…
Before you all rush out to short every available share of your local bank branch; the Fly already announced he would be adjusting his portfolio to technology stocks with a large cap bias, earlier in the week.
Something to think about, before you flip ape shit…
To inspire others, I have been off of CNBC and MarketWatch.com for the past 13 months. This means I have not watched a second of CNBC and I have not once visited MarketWatch.com. To me, both of these sources are poison. Both of them are sensational and make you “rationalize” the market way too much. If the market is down, do not over analyze it. If the market is up, do not over analyze it. Just make sure you are on the correct side of the trend and you will be fine. Be impatient with losers, but patient with winners.
I rely on Bloomberg for my news and Power ETrade Pro for my information. It might be a coincidence but my trading performance has increased greatly as a result.
Reading StockTwits is giving me Brain Freeze.
Insurers act like final stage cancer patients…what are the UAW shitweasels doing this weekend..not building many cars…ahahahahhahahahaaaaaa -Green Shoots…another joke…unemployment is more like 12% already..rendering the pussy bank stress tests irrelevant now…keep buying dipshitters.
Beware of the lockness monster cock n balls pattern along with a upcoming second stimulus package.
… and how come it seems like 10-15% of those tweets on StockTwit is a pump for UNG.
Agreed Cash, although in the near term, it’s important to remember that many auto parts suppliers placed their employees on an additional week off, which could be part of this huge spike. Those “layoffs” are only temporary and could cause a surprise job rebound next month or the one after.
… that be Twit(s) although I like StockTwit better.
Cup w/handle is broken -placemat arrangement setting up – bent tine on the fork and the knife ran off with the spoon.
Market is closed July 3rd.
Mr Cain..with all due respect(not sure why) nobody is fucking hiring..Detroit is a ghost town-(LEA) hahahhaa hows that going…its a shit slide…govt numbers are a joke..green shoots are fucking weeds growing around vacant commercial bldg’s and business…Maybe McD’s is hiring 300 lb illegals who cant speak..but thats about it.
MET.. is now shitting the bed. Good- Fuck you insurers.
are you looking at INTC instead of GLW ?
Cash-N-Guns
Seriously, what’s with all the anger?
Always such vitriol from you.
peace and fairy tales to all scardy cat bulltards….may your CEO be indicted for embezzelment, while the SEC halts trading on your BS penny stocks.
fig.
Out all day, but I just noticed ADTN behaving rather mahhhvolously (sic).
Fly thesis confirmation?
ARMH is hanging in there too.
________
I never proclaimed otherwise; merely pointing out that if we begin to steadily trend downwards, there could be another rally somewhere in the works when it appears thousands of people have gotten hired, sometime around next month.
HighVol- Have some symparthy.
Cash- N-Guns is still reeling from the closure of The Have-A-Tampa cigar factory.
I am restructuring too. You are the man. The only one with the everpresent ability to repsychologyyourself
PS: IPI
TraderCaddy…true that was a sad day…thanks for the positive thoughts.
correct. monday.
yawn *
Fly,
Don’t disagree with a short term bounce but me is feeling more and more bearish here and have been betting that way over the last week or two with some BGZ and DTO.
short all bounces till we test 805-825 area…that is my plan.
Lucky I dumped that POS GME yesterday on the rise. May buy back at $18. Been loading GLW.
UNG is going to 10.5
The PPT is suggesting the market will bounce tomorrow
Tomorrow Indueed ! With the market closed and all.
Kneale & Cramer are on the floor buying bank stocks and chanting Boo-Yah….should help..no?
with all the bed shitting in the market overall, and all the planes falling out of the sky, the airline stocks are holding up rather well here, I thought they’d all be printing a buck or two or less by now.
Getting conservative in your old[er] age.