Traded Z today, bought it 10 minutes into the session, at a price, that I KNEW presented risk, because it smoked up 2% along with the rest of the market’s heat and blew out my 3 min chart’s CCIs to the upside. Then paused, no pullback, dip and retested the morning high. And I’m sitting here thinking, “The Friday pump is on, social sector has been COMPLETELY tossed aside. ZNGA has investors in total disgust, Facebook too, but Z looks good.”
Looked good on the daily chart, should it close green, SHOULD IT CLOSE GREEN, which I apparently
KNEW at 9:40am (#timestamp).
I top ticked by ten cents and shortly after sold it for a loss.
The good is after realizing I bought a setup on a company I like, based off a daily chart and product I like, for a swing, BEFORE THE SETUP ACTUALLY TRANSPIRED, was a mistake, I sold. I also used a very small amount of capital, because my mood is salty in general and I REALLY should be quietly observing.
The bad is I mixed up my timeframes, and bought an overheated open in a euro coked market. The stimulators and trade bot news digester 9000 are shoving their faces in mountains of the Archie Bunker (UUGH!), long of oil and financial institutions. The “been there, done that’s” of the QE pump world are cowering over small piles of precious metal and their levered buddies, the miners. They sat around today, bug eyes from yesterday’s teaser, taking excessive bathroom brakes hoping to catch some action from the captain. They want to meet Big Meech and Larry Hoova. They’re still hoping to hook up come Monday. But social stocks, my god their holders feel like shit. They scored some bad junk, shoveled off at discount rates from Giranamo, the back ally drug stop and now they’re clammy and fetal. The outstanding passer by mocks said miscreants as they partake in their own market debauchery. The world’s a cold mother fucker for that fetal guy. The world’s a cold mother fucker for ZNGA and FB “investors”…
Pandora crushed today. That was interesting. Late day sell off but hardly anything for bears to point at as a win. Stock still closed up over 7% and right back into it’s long winded range. I could like to see it rip right through that muddy range as buyers aggressively accost their mild mannered driver to whip the beasts tugging along their calash. “I’m late for tonight’s soirée.”
Pandora buyers are gentlemen you see, and while adorning a top hat, prefer the stimulation of a string quartet over bumping trill and sipping lean while riding through the hood.
Pandora is disrupting terrestrial radio, so are a few other guys, but Pandora’s ad men are closers. I’m exceedingly interested in their earnings.
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Listen pal, I may be on tilt. I feel it. I have mostly backed off all the action while I handle my business, but trading Z today was a breakdown in discipline. I knew better.
However I will continue holding AWK and DTE until I don’t. Also I may get back into Pandora.
If I’ve entertained you at all, AT ALL YOU INTERNET ZOMBIES, I insist you answer just one question in the comments:
Would you buy Pandora next week, why or why not?
If I get 5 replies I’ll addenda this post with an exceedingly embarrassing event that occurred while writing this.
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Re $P: no. several reasons:
– I don’t like the pattern on the daily…at all.
– the weekly looks a little better, but I am concerned that it might want to see 8 before 12, which ties into my final point…
– social stocks have been taken to the woodshed recently. In those situations, if I’m looking for higher probability trades, I’m looking to short instead of going long.
Pony up you hungover motherfuckers, I yearn to hear some embarrassing personal tales.
Lol one reply, 4 to go. Thanks for your thoughts.
Agree with elizamae on all points there, these types of stock (low-price social stocks) are not my thing so hard to comment.
I’m looking at the 10-level needs to be held on a closing basis, ultimately would like another test of 10.50 (Friday high and where trendline comes in) and catch on pullback from there with a stop around 9.50 or a bit lower…but again these are not my kind of stocks to trade either.
Appreciate the thoughts. COME’on people, 3 more comments and I add to this post something embarrassing, but awesome an amazing at the same time.