I’m going to trim just about 1/10 of my ZNGA here this morning. The stock is straight up 30% plus in the last month and I’m just going to lock a part of the profits in. Tranche trading is key.
Let’s continue our “quest for gestalt” with another round up of key headlines and some Revolution Investing commentary to go with ’em. And don’t forget this week’s Live Q&A Chat at 2pm EST at https://tradingwithcody.com/chat.
Bogle: Why you should ignore record market highs – I don’t agree with John Bogle here at all. Prices and timing matter and to ignore that is folly. I think you should still be net long here, but I have already trimmed down my net long exposure from the 2010 and 2011 and 2012 levels when prices were lower. And just as importantly, I plan on getting net short again at some point when this stock market bubble finally gets ready to pop. Speaking of which…
Hulbert: Twitter IPO top of a bubble? Marc says its not. Funny, see this that I wrote just last: Twitter IPO will signal top of the bubble – I wrote in that article that “Twitter’s recent IPO filing means we are definitely getting much closer to the top of the App Stock Bubble than we are to the bottom. In fact, I would expect that we’ll see the top of the App Revolution Stock Bubble just a few months after the Twitter IPO.”
BlackBerry Patents Key to Raising Buyout Debt – I don’t think BBRY’s patents are worth $4bb, but then again, do you remember this? AOL Sells 800 Patents For $1.1 Billion To Microsoft. I’d imagine there’s more value in Blackberry patents than in the old AOL patents. Regardless, as I wrote yesterday in How to trade Blackberry now that it’s being taken out, “The point is, this is the end of the road for the BlackBerry BBRY bears and shorts like me.”
Robert Reich, Inequality’s Intellectual Fraudster – I was asked about this and Robert Reich on Twitter yesterday and I answered, “I’ve been on TV several times with Robert. He’s the Democrat Ben Stein. Everybody who served under any recent POTUS are hypocrites at best.”
Five Tonnes of Customer Gold Leave the HSBC Vault – I’ve been citing this dramatic collapse in gold inventories for the last few months. There’s an end game in there somewhere and I think it’s going to result in a reset of gold at higher prices. Maybe 3-12 months still of games to play though.
Family glitch’ in health law could be painful – The only thing simple about Obamacare is that it is simply another method for corporations to profiteer on the public.
Speaking at UN, Obama Tries to Claim He Was Always For Diplomacy in Syria – The Syrian story has gone to the backpages, but I would expect it to hit the headlines again in the next few months. It didn’t make any sense how Obama tried to talk us into a Bush-like logic to go to war in the first place. Why would we think he and whoever is guiding him have suddenly gotten rational.
Petition | Congress: Revoke the Tax-Exempt Status of … – Change.org – Did someone mention methods that giant corporations use to profiteer on the public?
Alibaba Is Said to Move Toward an I.P.O. in the U.S. – The 13-digit valuation (more than $100 billion) that Alibaba is coming public at is another sign of the bubble.
Scutify.com – If you haven’t checked out the site or the Scutify iPhone app, I highly suggest you do so. In full disclosure I liked the Scutify platform so much that I acquired the company and merged it with my WallStreetAllStars.com. I actually got half of today’s headlines from the Scutify ticker news feeds and have also gotten some great trading ideas in there too. The iPhone app itself just hit #16 in the Apple App Store “Top Charts” finance section.