Is the great bear in the sky really this munificent? I’ve been hitting it out of the ballpark on social media stocks (as my beloved Slope+ readers know). I remain cheerfully long puts on LNKD and FB, although I took profits on one-third of them a little earlier today (a decision I am guaranteed to regret, as federal law requires).
No, I’m not referring to Yellen again. I am referring to The New York Times. Let me explain…….
Since I attempt not to irk my readers overly frequently, I’ve learned to avoid the Warren Buffett topic in general. I last mentioned him a couple of months ago, and as usual, a chorus of Uncle Warren Is Awesome folks jumped up and down. Even with my usual preface about what a gee-whiz swell guy he is, from the banjo-pickin’ to the homespun wisdom, daring to question the So What of Omaha gets me into trouble. (more…)
Back on February 24th, when it was an $80 stock, I discussed how retarded the whole 3-D printing concept was and how DDD should be shorted. Well, it has lost nearly 50% of its value from its peak, and this has proved once again to be a pure MoMo stock that sucked in a lot of – - well – - suckers. It’s pretty badly oversold now, but I thought I’d just point and laugh for a bit.
I’ve done previous snarky posts about World Wide Wrestling “Entertainment”,such as here and here. In spite of earlier misgivings about the danger of shorting this monster, once the stock got to the 30s, I had enough. I shorted it. I covered it. I took a profit. Then, a few days later, I shorted it again. I covered just now, taking another nice profit. Some of our fellow countrymen are lowbrow knuckle-draggers, but there are even limits to the market for those nitwits. I’m out for now.
Financial Engines, which is based right here in lovely Palo Alto, is continuing to poop its Pampers. As I’ve said repeatedly, and here most recently, I think it’s heading to the low 30s. Bombs away!
I first started mentioning McDermott International (MDR) eleven months ago when it was about a $10 stock. It has been a bumpy right up and down since then, but on the whole, it has moved lower. As I’m typing this, it’s down about 6%, and I continue to feel that, ultimately, it’s going to be a lot lower. Below I’ve put up a long-term daily chart as well as a close-up view (the tinted zone in the larger chart) so you can see the recent gap-down action. (more…)