After getting off to a rough start this morning, the markets gained traction and we saw the mobile/social tech space heat up into the late lunch hour. I sold my TPX in the morning, for no god damned reason. I also traded FB like shit; chasing a flag only to stop out of what I thought would be a few day swing trade. I had no other choice but to make a little break and have a long swim. I returned very calmly to a market full of Fanta.
I purchased shares of Pandora on the rumored bid from Comcast. Turned out the rumor was FALSE. If you recall, I sold my stake yesterday just under ten. I should have stayed bracket committed yesterday instead of being a fruity fearer of round numbers. It cost me around forty cents. However I have retained my newly purchased shares. Should the market gain traction, shares could rip up to bracket high $11-11.50 where I will scale 1/3 and reassess. Shares went from up over 8% to up around 4%
Zillow recaptured $40.00 which seems significant considering the market’s reaction to the achievement. Price went on to rip through $41 and looks beast. Investor’s reacted positively to notes out from Zillow stating they’re getting a fuckton of mobile traffic to their site, a trait so important to web services in our transitory computing environment.
@mrtopstep tweeted about a trading break rule. He says making a little pause after having either two profitable or five unprofitable deals in a row is his rule. I may implement a rule like this albeit tweaked to swing trading. I would love to hear any similar rules your guys adhere to.
Top picks going into the night we all watch the Chinese release capitalist data: YELP & Z
Good day good traders,
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