Because when three months go by and every stock feels like a chase, you’ll pull out your weekly charts and be like, “Well when was that perfect setup and why did I miss it? Oh, I see, it was the sketchy week leading into the 4th of July, when I tread lightly.” And you’ll be like, “Damn, of course that’s when the opportunistic bulls went all capre diem, bastards!” This scenario will resonate even louder for the cash-heavy vacationers…
…Raul is never on vacation, even when on vacation.
I’ve accepted that travel for the next 3-9 years must be within the confines of an acceptable internet connection. Perhaps you’re like, “that’s sad, really.” You shouldn’t. I’m hungry, and we “all gone eat honey.” Mine is simply being deferred into my early 30’s.
We’re all staring at the same charts, and it’s hard to look away. SPY is like your favorite train-wrecked celebrity, blowing cocaine and walking through Hollywood naked. We’re disgusted, but a part of us wonders if we’ll ever experience such luxuriously-destitute conditions. You’re sure they’ll die or be arrested, but just then Richard Branson comes to their rescue, flying them off the streets in his spaceship. That’s the ETF SPY summed up in one paragraph.
It’s a totally new world we live in. Get out your space helmets friends!
So I’m Don Johnson long into tomorrow’s shortened trading session, fully prepared to hammock myself and drink cucumber water once the market closes. Then blow shit up, and then have a remote presence Friday, like an alien.
I’m over MAX HOLDING COUNT, currently holding 14 longs, like a box of dynamite.
Cash is only 10 percent and here are my longs, listed by size, largest-to-smallest:
TPX, F, Z, GS, FB, ANGI, SHLD, AAPL, IMMR, O, CREE, AIXG, ENPH, and YGE
I’m certain this list has little value to you because, well, it’s too many names. I’ll cut the solars on any additional weakness, but I couldn’t stand the thought of cutting them before they actually become fireworks…they’ve done nothing wrong.
O shot out of a clown cannon into the bell. The move lower looks way overdone, and inside 12631 we talked about how this is one of my favorite setups.
AAPL made it back to my basis, so I cut it in half. Sitting through that drawdown full sized was muy shitty.
F closed out at 52 week highs, fantastic looking chart.
ANGI is still “meh”
CREE: all year I’ve wished I had more, but all year I’ve been long so….I can’t beat myself up too bad.
GS needs to do some fancy bear-trapping, because right now, they’re asserting themselves rather well.
Enough, I grow tired. See you homos later.Comments »