It’s been a solid morning so far for stocks as we continue to chug along on the value train mountain ride.  The question is are we about to begin a descent ala Thunder Mountain or will the engines continue to power higher using banks and Apple as fuel?

The morning offered me one setup that earned a single ES point.  I’ll take it to start the week.  The primary feature of the morning was a solid five handle rotation higher that buoyed many stocks along with it.  It filled the gap and now we’re watching the market consolidate so far above value.

It will be interesting to see if the market can hold onto this strength through the lunch hours.

I took some profits in YELP and BBRY this morning but still hold 2/3 positions in each.

I started a new long in ANGI, again.  Third time is perhaps the charm?

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Perhaps it’s the crystal crack meth I’m holding in my portfolio, and the fact that each of them is a loser, but what looks like minor damage on the S&P has my portfolio down 1.5 percent today.  If I was heavy long, sure, that makes sense, but with cash over 50 percent it comes as a bit of a surprise.  It’s like oh hello April, I see you’re coming in like a lion.

So I’ve been forced to take two losses today; first I cut Yelp, and this afternoon Ford.  Here’s the gist, at this juncture, I’m not loosening risk and letting setups work.  Ford very well could turn around this week, but the daily chart is sloppy, and not something I’m lending patience to right now.

Yelp plum fell on its face, as did most of the social media space. To hold even a trace would be a disgrace. I want only the ace. I want the ace.

My holdings now are (by size) CMG, ANGI, AIG, ZNGA, CREE, and old pokey aka AWK.

We could talk about each and what they’re doing, but you have charts yes?  You see much of what I do, no?

Here’s my bottom line: there’s lots of POMO on tap this month.  It’s a strange environment.  As we wind down into the close, we’re getting a b-shaped profile, suggesting long liquation and not much more.  The sellers made progress on many individual charts, but they haven’t taken the big board yet.  Moreover they haven’t controlled the big board all year.  However, this is a new quarter, a page turn if you will.  Therefore we all need to stay vigilant.  Like, why the hell is the Yen so strong today?  Just be cognizant of the environment.  I’m a bit unsure, hence my huge cash.

Be well.

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Holy earnings blow out.  Look at our newest enterprises, wowing the street with hot numbers.  Zillow and Angie’s List are ripping afterhours, partially because there’s a housing resurgence, partially because they’re the way of the future, the future, way of the future, ehm. Future.  Howard Hughes (HHC) ripped all day.  That was my tribute to the aviation legend.

Fly pens posts like ‘The Amazing Market’ that get me so pumped to bank coin I have to sit in my car for 10 minutes listening to classical music so I don’t put my head through the windshield like Busta Rhymes the first time he heard Eminem.  Get excited people!  These rip-tastic days are numbered.  You need to, “get it while it’s here boy.”

Every time I upload a blog post I feel like I’m a member of the future society.  It’s never a burden.  Just as many Americans enjoy a fecal cruise, I enjoy typing a message to the world then permanently etching it into the archives of the greatest website on the internet.  Future.

ZNGA, Z, YELP, FB, TRIP, OPEN, ANGI, LNKD, take your pick.  One of them is going to double.  Stick to the charts and you can ride along without getting castrated by the inevitable loser.

If you can’t allocate risk capital into this space, you’re bound to miss out.  I’ve been beaten with a dough roller by YELP once.  I cut off my right pinky as a reminder to stay humble (kidding).  But know what type of beast you’re dealing with.  Know the range volatility and position accordingly. 

One can only lead a horse to water.  You best take a drink before Elizamae makes you his main course.

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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.

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I was welcomed this morning by a lovely coat of snow.  So lovely, in fact, it wiped out the internet in my home.  Losing the internet at my home means the whole show comes to a screeching halt.  I’m not unable to toggle the lighting and heat from my smart phone like I so enjoy.  My NFLX is out and that means there’s only antenna teevee.  And I most certainly can not pen lovely blog pieces full for media for my interweb people.

Thus I had to adventure drive into the office so I could trade these STAACKS.

If you are long, there is very little that should concern you.  The wind is at your back and prior discrepancies left behind in the tape have been settled by in an orderly auction by the mafia in Chicago.  If you’re short, a clown rather, I wish you high level risk management.  Please trade your positions well.

Today’s plan is to wind up exposure as high as possible into quality chart setups going into the weekend.

My assistant has fetched me a hot cut of DNKN coffee and it’s time to do work.  Good day.

TOP PICK: ANGI

MOVES MADE THUS FAR: Sold TZA and ANR, bought more FB

UPDATE: bought HES

UPDATE II: bought RH

UPDATE the Third: bought ZNGA

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Keep an eye on Angie’s List this week as it flags near this key level. I love this ancillary housing play with a splash of social web experience. I like their recurring income stream via subscriber service and their disruption of the contractor game. Much like hotels cringe at the thought of a bad TRIP review, contractors must do the same. These companies are the real deal and ANGI shrugged off the downdraft in FB post earnings.

There are several talking points that keep me bullish on this name, but the core reason I’m long is this sexy little chart:

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I don’t think many people take me seriously.  The funny thing about a serious person is how funny you really are.  You’re living a joke of a life.  When I had a clear reading of the tea leaves this morning, I sent out the following tweet (edit: bad spelling and all):

Petal to the metal

— Raul (@IndexModel) February 1, 2013

I don’t know how many people realize this, but I always put my money where my mouth (pen/keyboard?) is. Always. If something is worth talking about, it’s worth putting your skin on the line. As for business endeavors, I firmly believe in giving 100% as anything less is lazy at best and whimsical at the absolute worst.

So I spent the remainder of the session ratcheting up my long exposure and taking my cash down to zero. Yes, I’m 100% long. I haven’t been all-in in over two years. My positions range from high quality to downright degeneracy. It is my hope that the Super Bowl stimulates obese spectators to jam their nacho covered hands into their tiny pockets to grab an inked pen and write a reminder on their arm to buy stocks on Monday.

Wow my thesis sounds really flimsy now that I write it down.

I have many positions, but I’ve placed my primary bets on TSL, SU, GS, SINA, ANGI, and VHC.

Trina, Susan, and Angie are my girls this weekend.

Trade’em well!

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