I Have Left The Casino
I cashed out of my lotto play, selling HMNY for a shitty 12% gain. She is a bastard of a stock and will burn you if you’re not careful. Just 2 days ago, I was the king of the jungle, sitting on 50% gains, eating candy coated bananas without a care in the world while bitch-slapping the other monkeys. Now I’m feeling the other side of the blade, as investors sell this stock like they invented a new form of cancer. Perhaps this Movie Pass business plan pans out, who the fuck knows, but it’s going to take many months and I certainly won’t be around for that.
Looking at the markets, there is absolutely nothing I want to buy right now. AMZN and GOOGL are at record highs and there is an aura of invincibility in the air. Couple that with the fact that yield curves are tightening and that’s never a good time to be buying equities. OLED and COHR, 2 stocks I was I buying a month ago are 30% higher than where they were back then. I want to say I wish I hadn’t sold, but that’s not something a real gentleman would say.
Other than those I’ve run out of ideas for now. Energy looks good but then again not really. I also like TSLA here but perhaps not yet.
For now I’ll stick to PEGI, my reliable long term hold. You may laugh at me now for owning PEGI, as it has done nothing but languish. But wait a few years from now, and watch as it slowly, surely, and ever so gingerly grinds the fuck higher over the years, paying out 7.5%+ dividends in the process.
The guys over at PEGI report earnings tomorrow so I expect a violent move either way. I will be on a plane when that happens so I could care less which way it goes (actually I kind of do care). On the same token, I can’t hold stocks like HMNY going into a long flight because that would be even more insane, as it could literally go to $0.00 before I land. That said, I wouldn’t be surprised to see it up another 50% tomorrow. Should that happen, I’ll just chalk it up to ‘bad karma’ and move on. There will be easier times ahead.