If you missed my last live broadcast, be sure to check it out here (I discussed MRIN in greater depth at the 28 minute mark)… and as always, be sure to read my disclosures/disclosures below. Cheers!
Just a quick update… at the end of today’s action, my trading bias became more bullish on a number of stocks and the market in general.
The second part of that is something relatively new.
I’ve been negative / cautious on the market since September. Selling, shorting, and hedging has enabled me to preserve profits and stockpile cash to take advantage if bargains started to appear in the marketplace.
Despite today’s drop, I’ve still had a great couple of weeks and a fantastic year. More importantly, I have a ton of cash and bargains have indeed started to appear in the marketplace :^)
Euphoria/Panic oscillators finally hit “Panic” on Friday. Simultaneously, we’re now hitting major support levels on the charts. As a result, I think we can start trading for a bounce vs. a further decline.
In a volatile market, it’s generally smart to take profits (on longs and shorts) when they come (and then rinse-and-repeat). That should continue, but my portfolio, charts, and cash position all imply that I should be biased toward buying.
Following those signs, I started buying this afternoon. Among mainstream names, I bought some AAPL and SPY.
Among my favorite names, I did some more work on MRIN and was alerted to an 8-K from April 17 that showed that management will get 1.5 years pay + bonus if they sell the company. This added credence to the hypothesis I presented in my recent article and YouTube video. Between this and today’s drop in stock price, I was a buyer this afternoon.
I get the sense that most people are playing the chart and MRIN’s low float. Don’t be those people. It’s cool to make extra $$$ trading the stock, but spend an hour to go through the story, so you know what you’re dealing with. That will enable you to trade and/or invest with the advantage of knowledge. With a volatile stock like this, that advantage can make a big difference.
Trust me. Doing my homework first (and immediately) is one of the single biggest reasons I’ve continued to make money while the markets implode. #research!
Happy Holidays & Best Wishes For A Prosperous 2019,
If you missed my last live broadcast, be sure to check it out here. Cheers!
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Disclosures / Disclaimers: I am long AAPL, MRIN, and SPY. However, this is not a solicitation to buy, sell, or otherwise transact any stock or its derivatives. Nor should it be construed as an endorsement of any particular investment or opinion of the stock’s current or future price. To be clear, I do not encourage or recommend for anyone to follow my lead on this or any other stocks, since I may enter, exit, or reverse a position at any time without notice, regardless of the facts or perceived implications of this article.
I am not a financial advisor. Nor am I providing any recommendations, price targets, or opinions about valuation regarding the companies discussed herein. Any disclosures regarding my holdings are true as of the time this article is written, but subject change without notice. I frequently trade my positions, often on an intraday basis. Thus, it is possible that I might be buying and/or selling the securities mentioned herein and/or its derivative at any time, regardless of (and possibly contrary to) the content of this article.
I undertake no responsibility to update my disclosures and they may therefore be inaccurate thereafter. Likewise, any opinions are as of the date of publication, and are subject to change without notice and may not be updated. I believe that the sources of information I use are accurate but there can be no assurance that they are. All investments carry the risk of loss and the securities mentioned herein may entail a high level of risk. Investors considering an investment should perform their own research and consult with a qualified investment professional.
I wrote this article myself, and it expresses my own opinions. I am receiving no compensation for it, nor do I have a business relationship with any company whose stock is mentioned in this article. The information in this article is for informational purposes only and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
The primary purpose of this blog/forum is to attract new contacts with professional industry expertise to share research and receive feedback (confirmation / refutation) regarding my investment theses.