Well the test will probably come this week some time. My guess is that the market [after a bit of chop] moves to new highs. The chop might get the bears excited again, but for the moment the bull continues.
April 18, 2014
As far as my positions are concerned: FEYE is in such a depression. It’s hard to believe this is the same stock touted by a certain analyst as a “once in a decade opportunity.” The street could not get enough of its shares; now no one wants them. Singular indeed.
I sold half of my WDAY position, for a loss, and have begun allocating into YELP.
I was flat for the day, -22.5% for the year.
I am down 28.3% in FEYE, -10.44% in YELP (after today’s adds) and -16.4% in SPLK. I expect to eliminate the entirety of my WDAY position over the next two weeks. It’s down 18% from my basis.
Ideally, YELP sprints higher, I sell my lower basis shares and swap into SPLK, then with the profits from SPLK, load up on FEYE for the grande finale. If I can pull this off, it will be one of my greatest turn arounds ever.
Well I added some FEYE.
April 17, 2014
Looking to buy flippe-floppe’s liquidation.
Just in case you’re wondering why I want to sell one of them, quite frankly, you’re retarded. I don’t like being in the position that I am in. My basis on these 4 stocks are all very high and, realistically, if I do not put some real money behind 2 of them, I am going to be holding them for a long, long time.
As humans, we tend to avoid pain and most normal people avoid conflict (with marked exception to the lunatics in my comments section). So I expected FEYE would be tossed into the volcano. Quite frankly, I chose FEYE too, as it is my largest position and is the main source of loss for me, over the past 6 weeks. The size of my FEYE position is almost twice as large as the other three. Selling it will certainly leave a scar, but allow me to raise a lot of cash to be put to work smartly.
So FEYE it is.
I particularly like the technical divergence.
April 16, 2014
The test for the market is now…and over the next couple of days. The bears have to break the rally pretty much at this point, and then take the market to new lows [past the previous low] to put the market in real danger.
If they can’t, the bulls will consolidate a little, and then we should see new highs. I’m guessing the bulls win this round.
April 15, 2014
April 15, 2014
Always an interesting game to play. Breakouts/breakdowns tend to work better after a break of the retest. There are any number of false signals. To be valid, I’d need to see a clear break, the bounce back to test and then a failure. Currently [and this is why there is so much speculation] we simply have the first stage.
For what it’s worth; the QQQ has bottomed. Buy the dip. SPY [if QQQ bounces] has also technically bottomed.