Random Thoughts


  • Wouldn't it be ironic if the market puts in a top the day Greece is actually saved (for a few more months that is)?

  • Tom Demark is calling for a top in the next day or so. I don't know exactly what Mr. Demark does, but more often than not I am in agreement with him. I assume he uses some mean reversion strategy.

  • I respect a strategist like Mr. Demark who makes big out of consensus calls.  This is in stark contrast to most strategists who get bullish after the market is up and vice versa.

  • LinkedIn has a lockup expiration on Monday. In the glory days of the internet bubble, the lockup expiration was often the end of the line for fantasy priced companies.

  • LinkedIn reminds me of a  story back from the internet bubble. Their used to be a  stock, I think the symbol was CMRC. The company had something crazy like a $30 billion market cap but only 5% of the shares were trading. I knew it was a slam dunk short so I went in full force the day before the lockup expiration. Back then companies used to make a big press release the day of the lockup expiration so insiders can dump the stock. I shorted the stock at 470. It ran to 500 squeezed me out on its way to 530. By the end of the day it was back to 470 and then started its collapse to zero. I actually lost money shorting it.

  • I don't think LinkedIn is a zero but I think its value is closer to zero than to its current stock price.

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