Nothing like an old fashioned 1.5% dick whack to wake you up! Pandora grew YoY but not MoM and traders used the data as an opportunity to get the price moving. I’m comfortable with my position sizing in the name and tomorrow’s price action will tell me whether or not to stay with the name. However, being a 15% position, it took a good lick at my PnL.
Today’s market could not catch a bid, period. At no point today could you look at the tape and see buyer initiative or reaction. Sometimes there are more sellers than buyers. That was the case today.
Additional cock blows were delivered by traders in YELP. You fucks, you short-sighted human paraquats. You make me sick. “Daaa, Fly say sell, me sell stock. Me thinks its okay to write ‘me thinks’ like a fatass baby in a candy shop 🙂 🙂 daaa.” Anyhow, I expected YELP to pullback. I even expected we may see an 8% pullback. I just didn’t expect to get it served to me like a cheap beer at a frat party, funneled into my ass. As I said earlier, if I see buyers reemerge, I’m a buyer of this dip down to $21.50.
Homosexual fraternal drinking rituals aside, I like the action in Zillow and Temur-Pedic. They took todays selling in stride as if gentlemen were trading said names. I highlighted my risk on TPX in an earlier post. Zillow I could have trimmed from today as it looks like it could roll. But what’s the point if I’m willing to buy any dip above $36.00? Instead I will greet the down days with a visit to my favorite deli.
I added DTE to my utility repertoire although I don’t consider it as “sure a thing” as AWK. I don’t like where price is right now, so I’ve started small. I’m a buyer down to $50.00. Those fuckers are seeing unexpected demand from degenerates growing plants in their basements. Not to mention the ungodly heat. Who needs an assembly line economy? Not DTE, if I may be so bold.
I bought XLB yesterday and sold it today. That, my friends, was a losing trade for which I had zero patience.
Tough day. Having only 50% of my skin in the game has me eyeballing this dip. Will it be bought?
http://www.youtube.com/watch?v=BXx06CCG_w0&feature=youtube_gdata_playerIf you enjoy the content at iBankCoin, please follow us on Twitter