Positive tone, looking at your long funds (or short the shorts). TQQQ gives a nice bar at lunchtime, but 35 cents of minimum expected return means a very tight stop. Study.
Toe the Mark and Walk the Line
Hard to pick just one favorite song from the great Waylon Jennings, but "This Time" may be it. Sometimes they play it a bit faster, but I like it best at this tempo:
Trading idea for Thu. May 22, 2014 | Joy Global (JOY)
If the long side works, gets a tailwind like it did on Wednesday, then JOY an interesting candidate... set the alerts.
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TQQQ Stop Wide Enough?
Tone was positive, looking at your long side funds ... TQQQ is a 3x long QQQ fund ... when the market weakened after 11 AM you would have been shaken out of this ... yes, it would have survived a wider stop, but better safe than sorry.
Beijing Restaurants -- Palms L.A. Kitchen and Bar
Coco (the intern) and I popped over to Palms for lunch. This is a new place just north of Gulou which I discovered from reading this post at LumDimSum. LDS is one of the kool kids who kindly reveals these hip joints to the old bald crowd.
We got some guacamole and chips to start. Guac was a little lemony to me but it's such a personal thing. Coco liked it.
I got the Korean fried chicken which I wasn't thrilled with and Coco got some pork tacos which I liked better. So we switched.
They have Slow Boat beer (yay!), though bottled (boo!), and the space is nicely done, though very small. Fortunately there weren't that many people there for lunch on a Wednesday, so we weren't crowded in there, which I could see happening easily. Service was swift.
Best of luck to the friendly guys who are running this new place!
Trading idea for Wed. May 21, 2014 | Masco (MAS)
Building materials ... don't tell Bubbie we're looking short.
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FAZ Sets Up
FAZ (Financial Bear 3x) set up on the 5 minute ... tone was weak from get-go ... obvious by 11 AM you're favoring the short side ... looking for long set-ups in your bear funds (TZA and EDZ both set up at 11:45, SQQQ set up at 11:00 but got flushed, etc.) ... third target for FAZ was 20.80, didn't quite make it there.
1969 Ford F-100
Fast N' Loud S04 E22
Big fan of clear-coating ... no trim ... the wheels look good. Have to say I'm an admirer of the look the Gas Monkey guys usually achieve.
Weibo Fair Value Estimate of US$15
From Morningstar's Yue Yao, in his May 11th note on Weibo:
"... we have a downbeat view for Weibo's long-term outlook for three reasons: First, the content censorship imposed by the Chinese government restricts the flows of information on Weibo platform. Secondly, Weibo's user base is geographically limited to China, so user growth could reach saturation earlier than Twitter; Finally, we believe the display ads on Weibo are less accurate and of higher volume, which lead to an inferior user experience."
Here's an analyst who doesn't pussyfoot around the censorship issue. I don't think censorship is a big deal for most users, frankly, but it's a balancing act for the government -- they don't want to kill Weibo completely. As far as user experience goes, most Chinese love clutter.
Weibo will report earnings tomorrow (May 21); it'll be interesting to see how much ad revenue they've grown and how much of it comes from Alibaba alone.
"I never did anything and I don't have anyone."
Mad Men S07 E06
If I had a dollar for every scene in Mad Men that ends with a pull-back shot....