I used to hardly pay SOCL, the social media fund, hardly any notice, but it’s actually a pretty interesting way to view that space as a whole for good set-ups. As my Slope+ readers know, I offered some very specific suggestions with respect to taking advantage of a bullish setup in FB and LNKD (yes, me, Tim Knight, buying calls; can you believe it?) Suffice it to say, they worked out nicely; a 79% profit in two days:
Of course, now I’m wishing I had put my entire net worth into these things……….but prudence dicated otherwise!
In any case, I think social media is set up for some prolonged savagery. This broadening top is cleanly broken, and I think the stinkiest of the stocks – – like, oh, say, TWTR – – are in trouble.
