Taxing Wall Street

Taxing Wall Street
Contributor since: 2011
I am long PCLN and AAPL. I do not believe that either of these stocks are overvalued relative to their growth rates. This doesn't meant they can't pull back in the near term, however, I believe longer term, both stocks will continue higher.
I can't believe I am agreeing with you about CMG. I trimmed my position down 85 percent this week. I have been a long time CMG bull, but even at these levels, its too rich for me. I still think shorting it based on valuation is not the right call. One is better waiting for a true crack in the story before shorting. Last quarter CMG had a few cracks, but as recent price action has shown, there are still consistent buyers even at these levels. I have no position in amazon. But, I also believe that there are buyers around the 175-180. You can probably scalp 15 points of amazon from here. CRM is too rich for me, and I can't see why anyone is buying linked in. Good article.
Let me clarify, my cost basis is not 890%, that's off low. Was on ipad at gym and lost train of thought. My apologizes. I still have nice gain, and will be taking profits Monday on gauchos suggestion. Only time will tell which way stock will go. gl with your posistion.
I trade around my position quite a bit using covered calls, and some stock replacement by selling puts to get long at lower levels. My average cost basis is 890, that doesn't mean I haven't taken profits. Thanks for the insult though.
Another flimsy arguement at best. Just so everyone knows, this guy has been spitting this nonsense since 180. I'm a chipotle bull and continue to be. Short sellers are always arrogant and stubborn than longs. The only real arguement is valuation and if they can continue an accelerated growth rate. If the story cracks I will get out, but after an 890% gain. If one doesn't want to be long, I understand. However, don't short this company...
nflx going bankrupt this year
I agree with NFLX and GRPN. NFLX is a secular short to 20 and I think even at those levels, it might not be a takeout target. Netflix is going to lose money this year and when a company decides to purchase NFLX, they are buying about 3.8 billion in debt for mediocre content at best. GRPN is just a joke. When GOOG decides to enter the space aggressively, they will win. GOOG has so much cash on hand that they can pay vendors back in 2-3 days instead of GRPN which pays them back between 60-90. The fact that they can pay vendors faster will eventually lead to GOOG getting better deals. Also, when they interviewed the CFO on CNBC, he made me feel less than confident that he has any clue about how to grow this business. I am short both.
I remember when this guy was on CNBC. He called AAPL the short of the century, but then, in full disclosure said that he did not have a position in the stock. Making a ridiculous call is one thing, but having enough conviction to put on the trade is another. He was there purely for TV time. A year from now, if he is right, they have him back and he looks like a genius. But most likely, he gets lost in the shuffle with every other bogus calls that ignorant strategists make. I am long AAPL.
I agree with all but CMG. I am still long CMG. But I am short NFLX, NFLX is a secular short to 15, I am short AMZN, although I think longer term AMZN will be ok, and I am short linked-in which I think is an Ultimate Bubble waiting to burst. Against these I am long AAPL, GOOG, and am putting in for ZYENGA IPO. I think that is a much better company than LNKD. Also short GRPN.
Nice article. I am long AAPL, GOOG, and MCD
I agree. I am long PCLN and have been for a while. PCLN still trades at fairly large discount to its growth rate. I think it has been trading poorly lately due to the uncertainty out of Europe, the potential loss of a currency tailwind, and the symmetry in the long term chart that causes people to sell around 548-565. I believe that if some of the European problems are solved and it breaks through resistance, it will rise fast to 620. Nice article. On a side note, I always like a company with good marketing and advertising. All the other travel sites' commercials blend together, but everyone knows the negotiator. They have done well with that marketing campaign.
Poor opinions that are supported by zero facts..
like I said, how are my pair trades working the last two days?.?.?.taking a few profits
try...PNRA instead of CMG, NFLX instead of PCLN and SINA instead of BIDU...If I am correct, you have been short CMG since 150, how is that working out for you?
I'm short rimm and nflx also. NFLX is going to be a 70 dollar stock 3 months from now.
I think AZO is a good buy in this economic environment also. I would like to get it between 292 and 300 if I can.
I don't know if anyone reads his articles consistently, but they are always exactly the same, about the exact same stocks, promoting is own agenda to manage awful trades. Read one or two of his other articles, they are exactly like this one.
I still think pcln is best in showhere.
I think pcln is less of a gamble than most think. If you look at expe's report, a lot of the beat on EPS and revenue was due to the currency conversion from international exposure. Priceline has the largest international exposure of the group (because they own, and is trading at a significantly lower multiple than when TZOO announced. It has traded poorly, however in the last two days and failed to hold the flag pattern or cup and handle above the trigger around 542. However, I think it is safe to play it from the long side, but that is my opinion. I am currently long pcln. Good lucky trading.
I hope I was able to help some longs get out. I am going to look at the quarter and post how I will be trading this tomorrow. On the surface though, it looks pretty bad.
I am expecting another blowout quarter from CMG and it is still trading fairly well. I have more faith in the management, growth prospects, and product than any other company I own besides AAPL.
I agree. Human behavior is averse to change.
Sorry if I was unclear. His points for being short make sense because they are true. They have changed the accounting and do have a ton of off balance sheet debt. However, like the other growth chasers, I ignored the short term problems looking forward at potential growth. That is the point I was trying to make.
Good question. If you read my previous articles than you know that I am still very bullish on CMG. CMG is my largest position and I did not feel the need to add to it.
Please note everyone that although this article posted today, it was submitted July 13th 2011 at about 10:30 am. I will post it as an instablog so you can see the time stamp.
PCLN is still a better buy than EXPE. They have a huge advantage internationally that will be almost impossible for Expedia to penetrate.
I think sina is a better short than bidu of the market goes south. Nice article.
seriously, stop giving advice
None of these should have been shorts to begin with. You have been wrong about CMG for over a year. I have been long all of these stocks for over a year if you check my articles. I would be very surprised if you are still solvent. Just give up already with your elementary analysis on all of these stocks. No one listen to him or you will lose money.
Don't spam your own articles.