This rally is off to a healthy start. We’re going into EST lunch hour (the only lunch hour) and the indices are trading smooth. TLT – is selling off. It appears we have at the least tamed the risk adverse beast to a state of chop. May it chop for many months whist we bank coin long equities.
We’ve come quite a way since last week Thursday, and the risk to initiating longs increases with each green close. I see the possibility for more upside in this initial thrust which is why I’m very slowing scaling out of my new longs RGLD and Z. I’m still holding my SPY runner from the position initiated the Thursday before last because we could keep climbing.
However, if we are to see sustained moves higher there is plenty of room to bank coin. Plenty. Therefore I’m still cash heavy. I’ve felt the urge to buy these prices. I’ve seen maniacal sentiment in names I like. I’m waiting.
If Zillow can report anything in line, the fucker is off to the races. The chart is healthy, the company is new to the market (hot), and real estate is something your average fucker can wrap their brain around. For this reason, I’ve scaled 1/3, am considering scaling 2/3, but would eat my shoe before selling THREE THIRDS off before earnings.
RGLD has the drinking vessel formation on the weekly chart and may attempt a triple lindy higher. Earnings on tap this week could catalyze said feat.
YELP looks pissed. It looks like it wants the fuck higher. To my eye it’s already higher than Snoop Lion lying blunted on an island. I want to see it sober up a bit. The chart could remain healthy, and I could get back to buying.
My utilities are selling off and so is MO because boring is losing its luster. Trade in that old Aztec and get a hot whip (Yes Walt). For fuckssake Ford is going up. LMAO. That’s some of the lamest beta you can tack on!
Bottom Line: People are getting all crazy, I’ve been crazy. It’s fun as shit. MA MA MA MA MAYBACH music,,,, uuugh.. $P $P $P uugh.
I’m done being a fucking clown. But until otherwise noted, I’m a bull.
Top pick: Z
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nice i got a collection of some of these type of coins….really…i feels really good to have such a nice collection like this…..
Lady you’re freaking me out.