Sometimes I place all my attention on the front door only to have villains slip in the back slider and rape and pillage my purse. Such was the case with this most recent pullback. In the markets, there is never a sure thing. However by my homework we are in a high probability environment for a thrust higher. However, I’ve been overeager. My AM purchase of YELP seemed ill timed as the stock diddled lower most of the day. It now rests right on support. A support I would prefer to see hold prior to positioning. I did not sell, but now consider YELP one of my top two “hit the bricks, dicks” stocks.
I sold Pandora. I don’t like it sub-$10 no matter how much Morgan Stanley reiterates their overweightness. I KNOW YOU’RE OVERWEIGHT, ALLS YOUS. You sit at your trading desks wearing a monocle and gnawing on lamb shanks with grease dripping down your chin. Puke. I puked out the shares below the $10.00 Mason-Dixon.
I sold TPX only to repurchase the position. I have been all over the place today, but I’m not sure I want it any other way. Still a solid pick IMO. IMO people.
The utility allocation holds AWK & DTE. I’m considering dollar-cost-averaging into CMS too. Eventually I may build 30% of my risk capital into these names, fuck it. Collect a coupon and fling pickles at the window from my rocking chair like an old dolt.
I retain ZNGA and will trade it exactly as outlined on July the fifth. And sticking with the “Z” theme I’m still in Zillow and considering adding.
Sometimes when you’re caught a bit off guard, you have to resort to hitting the deck:
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