October 06, 2010
– Comments (4) |
RELATED TICKERS: OPEN.DL
I'm calling a top on the overhyped stocks that everybody loves to redthumb. In order of most confident to least: open, nflx, crm
Probably putting real money behind this
Thats like calling the bottom during a bear market.
I tried something like 10 times and eventually I was correct.
Add bidu to the list
And looks like I was right didn't it? I'm up 2% on it. This is my firstattempt at calling the top, my previous redthumb wasn't timed
Open broke the 20 day ma and was down on a huge up day. Crm is just falling apart
Nflx is just a temporary top. Lost its momentum but eventually it'll run again. Bidu is losing its steam
I agree that we're at least close, but I'm not confident enough to put real money behind it...I'm just waiting patiently. The market could continue to rise, but bullishness is flat-out ridiculous right now. The media cheers about every bit of good news and then they cheer when we get bad news because it means the Fed will stimulate more. This is utter nonsense!...you can't have it both ways! The economy is healing or it isn't...why would you invest in an economy that needs stimulating? Stocks will rally into a Fed decision and then tank. I wasn't expecting a market crash...just waiting for a significant pull-back and a good entry point, but this nonsense could very well lead to another crash.
I have reds on all 3 also. I have had NFLX for a long time, hence my wonderful rating. I am -400 on that call.