*Markets are actually down a bit today — stop the press! Haha.
*We’ve had a lot of success letting our positions work for us, and I’m not making any new trades today, but I will be looking to nibble some more puts and/or trim a few more longs in days ahead. I don’t see any pitches I want to swing on just yet, but I have a feeling we’re getting closer to seeing some sweet pitches come down the pike.
*One of those pitches I’m looking at is a new solar-related stock on which I am finishing up research on and am likely to add to the portfolio next week. Still in the batter’s box today though.
*Minutes from the first ever FED meeting, back in 1914. The seeds of central control of our nation’s monetary system were planted with lies and propaganda long ago. Very interesting read though, to go back in time 102 years ago and see them split New Mexico under two districts and it makes me wonder why they would do that. Likewise seeing New Orleans lobby to displace Dallas as a “Federal Reserve City”. http://www.headlne.com/redirec…
*I think this has been a theme for a lot of money managers since the Brexit bottoms six weeks ago: “Regarding this bubble blowing market, I am very reluctant to add on the overall long side at this time. Although the bubble blowig continues and nothing imminent is apparent on the horizon to curtail the upward trend that’s pretty much been non-stop since February, minus the 2-day Brexit blip, I worry a catalyst or profit-taking here could easily break that trend. Thus, I am mostly on the sidelines at this time and waiting for a hopeful better entry point in positions.”
*#RoboticsRevolution. Personified. https://youtu.be/Xch1s_No884 If you don’t laugh out loud when “Kevin” keeps messing with the Robot, you’re probably a robot yourself.
*Question from the Trading With Cody Chat Room yesterday afternoon: “Cody, if I understand your comments, you feel we are closer to some sort of correction than a jump to Dow 20,000. Correct? If so do we sit on our hands for a bit if underinvested? Unfortunately, for those underinvested, it is painful to see the DOW march on without some sort of entry point.”
My answer: I do think there’s correction risk and I’ve been trimming/hedging a little bit lately. But if you feel you are underinvested, I wouldn’t try to time a near-term correction, rather slowly start scaling into some of the stocks you want to own, starting with 1/10th or 1/8th size tranches.
*This is a great line from @LunaticTrader “I like it when people forget my calls. In this line of work, it’s only when you make bad calls that everybody seems to remember them. ;-)”
*Check out the new iPhone and Android app for the new Kevin Smith movie, Yoga Hosers, starring Lily-Rose Depp, Johnny Depp’s daughter built by the makers of Scutify. The movie comes out September 2, so be sure to see it when it hits — this wacky movie likely to become a cult movie, if I had to guess.
*Want your own app? We have a terrific white label app solution that leverages your Twitter feed(s) and includes your Instagram, Facebook page(s) and website inside the app. It’s a high-quality product that we can deliver in less than a week — $200 upfront and $200 a month for maintenance, etc. Go here to learn more or to place your order: http://www.headlne.com/custom.html.
*Just a reminder that I’m speaking three times at the Money Show in San Francisco next week. See my speaking schedule and register here: http://www.sanfranciscomoneyshow.com/speakers/details/992771SPK.