Perhaps the big speculators had too much red meat for lunch, but they came to their turrets aggressive this afternoon.
I knew the morning would be challenging to navigate after disappointing earnings yesterday from RAX. The company is a quintessential component of the social universe. Just as electricity is generated hundreds of miles away and delivered to us in a nearly invisible fashion, so will server storage space. The technology must become more invisible and less intrusive into our lives in order to progress into the realm of utility. Consider RAX centers in the same manner. RAX trades higher. Today was an overreaction and will be looked back upon as a bargain buying opportunity. This isn’t some novelty fucking coffee pot people. Stop overreacting and selling the stock to shit you small brained parquet!
The morning indeed was challenging as bears pressed their muddy paws on my neck in names like PCLN and NFLX. I really had no business being in either and found decent areas to bail out. I then realized after reading five scary stories about the Facebook IPO that my mind was angry, slanted. I scanned craigslist for any reverse massage listings but instead opted for a swim. Feeling refreshed and emboldened, shit looked on sale. A buying spree ensued as speculators apparently came to their senses and realized, “Wow, these social stocks operate in a bullish microcosm. They do honey badger like shit.”
The energy that built throughout this afternoon was not immaterial. The bears are on their heels going into the close. And I get to sleep much better tonight. Instead of waking up and pacing the mahogany lined halls of my abode all, “WTF RAX made shitte tonnes of money. These aftermarket doucebags are dick suckers.” I will count sheep. AND ALSO, being short LNKD…that is the kind of position that causes heart palpitations. This ugly ass reversal candle will be seen inside the eyelids of shorts on every blink.
I got my AMZN position finally. The stock is still grotesquely levitated after earnings, but I like my chances here. I took a RAX teaser long home with me into the close.
Zillow, ironically enough, is punching shorts in the face and saying, “Fuck your house, now it’s a short sale. Cheapest house on the block.”
Pandora continues to be a “broken business model” but is trading up finally. I see more upside.
In summary, it’s nearly summertime so BEWARE and play your best setups. Don’t be surprised if you get chopped out of some names. However, the social/internet space continues to be a pocket of strength and the space is separating winners from losers in a rather draconian manner as we make our way through earnings. It’s how the stocks close that is important. Press the winners, this shit isn’t over.
Trade ‘em well gents! Ride with me too ladies (h/t sooz), just know this is how we roll:Comments »