Ears & Eyes Open Wide
But In Reality Just Taking It All In
It’s a Friday folks. I seldom take action on Fridays especially in the first quarter. I find it better to sit back and wait for the right opportunity. It was an interesting day to do just that. It was an interesting market today, all ways around. Let’s take a look as there were a few items to “look” out for and some “global” changes that were digested.
Alexey Navalny’s Death
A global surprise to a degree but more expected than not. What was also expected was the current administration’s shifting “red lines”. I remember a couple year ago when it was dramatically noted by our current President that if anything happened to Navalny it would be met by action. Today, as Biden was ready to visit East Palestine, more than a year after the “tragedy” that beset this community, it didn’t seem like any action was in store for Putin. What a surprise, eh? Like I said, more expected than not. It looks a bit like the last time “red lines” were crossed in Syria. The result then was just Obama changing the lines. Another day, same scenario. Looks like Joe learned a few things.
Started Fishing
And trust me, there’s no rush here but it’s time to get started. I placed GTC orders to start picking up 2024 October calls on Natural Gas a little below the market. Reasons tell me that if I’m lucky, and I mean really lucky, I might actually pick up a few since for October, the open interest is basically zero. Remember, I am a long term player. I like to be the first in some markets and options going out through October give me an opportunity to act in this manner. Natural Gas is in a doldrum state so hopefully those we know as market makers are looking for a little action. If they do I’m ready to take a position several months out when the push for higher prices makes a real difference.
How About That Trade Desk Report
Those who follow me know that the last time “TTD” reported its earnings the “street” uttered it’s usual forecast, things were “bad and going to get worse”. When is the last time the “street” was right. This gave me an opportunity to strike and get back into the stock at what I perceived was a “discount”. Well it worked and today’s report, as represented, was superb. I’m up a bunch since my entry about three months ago and I’m holding firm. It’s the best of breed in it’s class so I’m happy to wait and just let it run higher. How about you? Did you react as I did and if so, are you holding?
First Blow Off Top AI Wise
Wow, were you watching SMCI today. Super Micro Computer hit an all time high this morning touching the $1,075 level before realizing that “enough was enough”. Trading in the stock is off the charts as well as after hitting that “all-time” high lots of people said “thank you” and sold it off. Is this a top in the stock and the industry it’s a part of, I don’t know, I’m just “reporting” what I see. It’s going to take more than one of these types of securities to say the end is near and the rally is over. After all, it’s “February” and the debacle of 2000 did not happen for another month. There were some rapid ups and downs before that “bubble” burst so perhaps as they say “were back”. Time will tell but keep and eye on this segment. It could very well be worth watching.
That’s it but then again, that’s a lot for a Friday in my world. Working, writing, filming and more is what I’m doing. How about you? How are you spending your Friday? It is best to keep two ears and eyes open at all times as you never know when or what will be the next shoe to drop. Have a “plan” and react to it, even if it means you are just on the sidelines watching what’s going on and listening to everything you can. It’s part of my plan? How about yours?
Just like Tommy and The Who, you should practice what is preached and do exactly as they said to do in “See Me, Feel Me / Listening To You” and keep your “eyes and ears” open. It works for me and it should work for you as well. Just what you should watch and listen to is up to you. I’ve been doing this for 55+ years so I’ve got a plan and stick to it. I hope you do as well and do not react to everything you see and hear. That herd type of mentality will get you in trouble. Make your own plan and abide with it.