Bulls Are Weak

After sitting on my hands for a few days, I decided to try a few longs. I was quickly stopped out of $WYNN after trying to catch a falling knife, but got a great add on my $YELP shares. I also decided to try this BCOV again, and feel I got a good entry.

I ended up stopping out of $FIO as the selling pressure began after comments made at a JPMorgan conference. I have no idea what was said, but the selling was pretty heavy, and decided to take my shares of the table before it turned into a loss.

Discipline is everything here. Protection of capital should be job number one at all times, but more so in times of uncertainty.

My book goes out two longs: $YELP & $BCOV. I’ll be back later tonight with charts and comments. Chalk another one up for the bears.