Coming into the day 100% long I expected to get a worse beating than this. The broad markets are down today and it’s taking most of my portfolio with it. Before it had a chance to sink me to a -2% day, the stock gods blessed me with a manic 8% run in TSL, my former largest position mind you. Former, mind you, because I scaled 1/3 off at $5.75. I told you hoping any home gamers would do likewise. I sold Goldman too, all of it, because if any sector is due for correction it’s the financials which have been on rip for three months. All this action raised my book to 15% cash going into the gap fill lower. We talked all about that too.
Expect my tenor when addressing you to change modestly going forward. My days of being premier in these halls are numbered. And that’s fine. I will add this feather to my cap and continue on my merry way (no homo). As a trader you must always stay humble to the markets. They are much larger than any one of us. They are the collective action of trillions of dollars sloshing around, much like the tides of the oceans. I will continue to be water, but I hate all of you. Well, most of you.
The levels we currently are experiencing were highlighted this morning. So far, no real damage has been done to the bull case. We’re in a big range and we’re near the bracket low. This could be an excellent buying opportunity. I would like to see the NVPOC I mentioned earlier get tested. That’s an interesting price level that could display a high degree of sentiment.
We have ZNGA reporting tomorrow and that’s sure to disappoint many social degenerates. I plan to hold some long exposure through their earnings because MJNA is ripping and the CEO of this company promotes the use of MJNA declaring 4/20 a work holiday. Good for you.
Bottom line: this sell off is contained until it isn’t, readers want to throw mashed potatoes at each other rather than banking coin, and marijuana is my basis for speculating ZNGA rips post earnings.
As of this writing my book is down 1.2%
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that picture attached to post is always great for laugh .
I went to a Super Bowl gathering last night and 50% of the guest had their faces on Twitter rather than the Big Screen T.V… Really!
They kept remarking on comments/hashtags.
I don’t get it(?)
It’s a way of aggregating a conversation. Say you’re lonely and want to talk about a doritos commercial. You fire up twitter and ad “#doritos” to your blurbs to join the conversation.
Or hashtagging can be used as humor, especially really long hashtags like #LovingBeyonceLightsOutOMG
Hope this helps 🙂
If you don’t get why people are so glued to their phones instead of real life, well that’s a different conversation entirely.
I do understand how twitter/hashtag/etc all works (tweets in the house of Sooz..aka teens) but have a hard time excepting the draw that it has. To the point of rudeness. Maybe I should have stayed home and watched the game in the comfort of my own solitude…;)
void of twitter distraction.
Just old school, I suppose, Sir Raul.
psst..I find some adults to be more obsessed than the teens
#truth
You’re not alone. I think Twitter is pointless. The “conversations” are hard to follow along with, you’re limited bu 100 some odd characters on anything you type… It’s pretty retarded, which is probably why most of America loves it.