Not much is working. It’s one of those painful periods for trend guys like me. Winners are becoming losers.
It’s worse though for dip buyers. Losers are becoming bigger losers (see Groupon).
If you are a delusional person, November is rocking. Bank of America considers itself a ‘trusted brand‘.
But I digress….
Since September, Apple is down over 20 percent and Yahoo is up nearly 20 percent. I can’t find ANYONE who put that trade on the books. With the weakness in Apple comes the Pageview seeking degenerates comparing Apple to Japan. I wish it was that easy to call a ‘Top’.
I have been getting stopped out of stocks as the market weakens ($LF, $VRSN, $LPSN, $LNKD). It is not worth complaining, because as Ivan reminds me in today’s show, stocks and markets spend most of their time (nearly 80 percent) going nowhere. I believe one of the reasons private (angel) investing has become cool again is that real-time information and data is wearing traders and public investors out. Having the price of assets and portfolio in your pocket has a downside.
In today’s show Ivan and I also cover Guns (specifically $TASR), Drugs, Apple, Stocktwits 50 and JC Penny $JCP. While it is easy to throw Apple under the bus for a bunch of reasons I discuss in the video, I am falling back on my main reason for buying Apple into big weakness…the stores.
While $AMZN eats Best Buy and the rest of America the Mall, thousands of $AMZN mini’s will begin to surface. Some of course will get bought by Amazon (like Zappo’s), and other’s will go from e-commerce to Mall commerce and clamor to get near the anchor of any good mall of the next century, one with an $AAPL store.
For those still buying Best Buy $BBY on weakness please remember that the brand was part of America’s ‘Financial Leverage’ era (I will gladly pay you Tuesday for a Hamburger today) and could easily die in this new era of ‘Social Leverage’. It sucks for the employees, but as Seth Godin nails in ‘The Curious Imperative‘:
Now that information is ubiquitous, the obligation changes. It’s no longer okay to not know.
Here is today’s show: