Let me get you hip to a recurring theme in this market. If a company beats analyst expectations and rips higher the next session, it will continue to run. Look at PPC, GS, and CREE for example. They gap and go. This type of participation is a blaring signal of high demand for quality equities. Risk is being put on in a big way.
We had a strong January, we had a funny little Super Bowl with a power outage, and now we have an EPIC SNOW STORM. All of this happened amidst indices making new highs.
I come to iBankCoin late at night and dig into The PPT, building beautiful watchlists and highlighting industries that I like. Then the session starts and all of those names lose my interest. Then, by an invisible hooded force, I start buying social names. I cannot explain this behavior. All I imagine is mysterious hooded monks chanting in a dim-lit stone room to the stock gods, willing participants into the social stocks. Crazy I know.
I’ve been a buyer all morning. I bought more ANGI up here, I bought more ZNGA up here, and I bought more FB down around here. I may have a nasty case of rally fever, be forewarned.
Other buys today: HES and RH
I’m eyeing a couple other stocks as we enter the afternoon. Let’s see how they close’em.If you enjoy the content at iBankCoin, please follow us on Twitter