Stocks have had a chance to catch the breath here with a small pullback and grind after two months of straight up rally action. I’m finding some interesting valuations in some high potential Revolution Investing type stocks, so stay tuned for those.
In the latest Cody Underground podcast, I interview the one and only Todd Harrison of Minyanville about his view of this stock market, including how the stock market used to “rhyme,” his favorite stock and who he’s (not) voting for. I’m thrilled to officially welcome trailblazer, my old friend and a huge influence on my career, @ToddHarrison to Scutify Scuttles! Everybody can now see Todd posting in the Scutify Scuttles Network on Scutify.com, the Scutify apps and even on the Minyanville.com homepage.
As for me, I’m not terribly bullish or bearish about the near-term direction for the market and that probably means that it remains a stock picker’s market.
$AMZN has rallied more than $200 or nearly 50% since we bought those call options at the bottom in early February! Too bad we didn’t hold them all! Amazing move and it’s probably time to trim some of our core Amazon holdings on the endless rally move higher.
The stock is up 3% plus today, partly on this news: “Amazon Video Direct, will make the uploaded videos available to rent or own, to view free with ads, or be packaged together and offered as an add-on subscription.
Amazon will pay content creators 50 percent of the revenue earned from rental receipts or sale of the videos, according to the company’s license agreement. For ad-supported videos, the creators will get half of the net ad receipts.”
Consumers don’t need to do anything to get Amazon Video Direct other than use Amazon Video. But it’s a pretty compelling new platform to sign up for “Amazon Video Direct” for, as their site puts it, “content creators and visual storytellers wanting to reach millions of Amazon Video customers.”
I’m going to sell 1/10th of my Amazon common stock today while the stock is over $700 a share.
Stay vigilant, stay objective, stay cool. See you next week.