Allocation Shift

I trigged a stop on my AMZN position today.  It was one of my larger positions and my risk was $212.50 where we spent several sessions basing.  It’s a name I still want a piece of but the equity environment is filthy.  Valuations continue to be questioned and growth stories have taken a back seat to risk off positioning.

I’m 6% off my high watermark set pre Facebook IPO.  Am I saddened?  Sleeping with whores and abusing drugs in a relentless pity party?  Clubbing with down-and-out Paris Hilton offering my rebound services?  Certainly not fine chaps!  I don’t have time for foolishness.  Instead I’m being a good trader.  Assessing the damage and learning how not to blow my fucking dick off again.

First things first, 1.5% portfolio gyrations are something one comes to expect when trading hot money speculative stocks.  I’ve accepted this and given my positions room to, “do their thing.”  The gyrations are certainly more acceptable when they end the day green.  Something they haven’t done for eight trading sessions.

Stocks that behaved well and adhered to a semblance of charting: Z, TRIP, YELP, PCLN, AMZN, and P.

Stocks that knife through support and resistance while throwing up gang signs and giving you a lawn job: SVVC and GSVC

Stocks whose cocks are right like broken clocks: FB

You see the thing with YELP is, and this is what the trolls on Fly’s board were phallicly exclaiming, the chart has a series of lower lows and lower highs.  That’s momo 101 for lower prices.  Sell the rips, cover on the dips.  Hence why I own the stock still, some 25% underwater {sarcasm}.  This may seem like a dickish armature move, noob follows pro, noob gets squashed.  But I’ve expected very little from the name except face numbing volatility.  It’s been one of my smallest positions this entire beating.  I’m patient as a monk with the name, and will add to it very soon.  I know, don’t add to losers.  I know.  I am averaging into the name and plan to hold it a long, ass, time.  Because I like mafias and they offer internet “protection”.  As long as they keep the IRS off their books it’s a sound business in my opinion.

So if you made it to the end of my post, you’ve read through much dick verbiage.  Congratulations and thank you for reading.

Current holdings by weight: Z, TRIP, ADS, AWK, NTAP, YELP, GSVC, FB, and P.  Cash around 45%

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