I’ve seen several traders comment both today and yesterday about purchasing Facebook just to say they did it or were part of it. I bought some yesterday in the $33’s and sold it today when it failed to hold the same level. It was about a 2% loss on 3% of my assets so it cost me 6 basis points. Oh the vanity. We are all so intelligent, yet we commit our resources (money and metal) to trading something with very little in the way of a plan. We are fucking clowns. Well Chess isn’t, he’s Iceman this year. I’m sure being his wingman in #12631 is enjoyable.
I can tell you without a doubt something you already know: social stocks chop dicks off. Whose dicks said stocks choose to chop off depends on who is in control of the tape. Sellers are in control of the tape thus social stocks are chopping buyers’ and investors’ dicks off. How’s that for a syllogism?
How does one whether such storms? Step aside or dollar cost average and pray for days where more buyers exist than sellers. Because the flow continues to be sell sell sell. There are sellers coming out of cellars. They’re everywhere! Like zombies! Hysteria!
On a more composed note, at least we not seeing all stocks up, all stocks down dollar correlation hell trading. I hate that shit. It’s happening to a much smaller degree than last summer. Eventually these companies have to trade on their own merits and when that happens many of the social names stand to appreciate in value. Just be sure you have some dry powder stored to take advantage of the opportunity.
Current holdings, by weight: AMZN, TRIP, ADS, UPS, P, YELP, and GSVC
I keep my dry power in cash and AWK
Remember to trade your plan. And if you don’t have a plan, close your trading accounts. And if you’re trading something for vanity and such, I got a better idea for you: buy some shit at your nearest high-end retailer. If you live in the po-dung regions of ‘merica, buy them fancy big ass tires for your pickup truck. And some chrome bumper balls.
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Hi, your blog really touches me, have been reading it for awhile… Just wanted you to know about a website i started ReadYourBiblesChurch.com… It’s a place for Bible study guides.. I also put a forum in that can be viewed from a mobile device.. I couldn’t find where to contact you privately so I’m commenting, hope that is okay. 🙂 God Bless!
Jenn.
I prefer slaughtering goats to appease the gods.