June, Q2, and all of its awesomeness are in the books. Now we must press into everyone’s favorite quarter, the third, infamous for blowing up accounts.
We had a little scare there for a minute, with bonds going tits up, but so far these fears have been swept under the rug with all the other market villains. Will the V-shaped bounce stick in PCK? It seems unlikely. Volume has tapered off on the bounce up, making the move appear to be of the dead cat varietal.
So I don’t think we’re out of the woods, whistling and skipping across the prairie…blue skies and Teletubbies, yet. If you are carrying yourself in such manner, have a plan. Otherwise a surprise cyclone could drop a garbage truck on your person, like the finger of God removing your sperm from the gene pool, benefitting humanity as a whole.
I say all this to you while I stand atop 80 percent long equities, most of which are consumer discretionary. Why would I carry such funk stocks in this uncertain climate? It’s simple really, like always. The wealthy, like always, they’re confident. They’re always confident, but lately their confidence is at all-time highs, as measured by the Consumer Sentiment Index. One of the best ways to improve the overall quality of your life is to upgrade your bed. Don’t sleep on some piker mattress from a garage sale, covered in sweat stains and bed bugs—filth, I spit on your bed. Most people (not most iBC loyalists) spend close to 40% of their lives in bed, why be ghetto about it? The answer is they aren’t, they’re buying TPX mattresses by the factory load. Good lord these babies have a sweet margin, too.
Also, there’s a big consumer push into adjustable beds. They promise ergonomics, improved circulation, and an ace reading position. Traditionally only the elderly and hospitalized enjoyed such decadence. Now they come with 52-inch retractable plasma screens at your feet. UUUuughghgu! Guess whose mattresses work best in such conditions? Yep, TPX.
Now I won’t chop my dick off if TPX isn’t trading to $50 in July, but I have a ton of conviction in the name. I crushed this trade late last year based on the same conviction. Are you going to tell me I’m wrong?
I have 11 other longs aka peak position count. I present them to you, largest-to-smallest, headed into July:
AAPL (lol), TPX, F, FB, ANGI, YGE, IMMR, Z, CREE, GS, AIXG, ENPH
May Julius Caesar and his month bring gifts to my person and yours.