Stay up on top of the news, trends…

Gotta blame it on something
Gotta blame it on something

Blame it on the rain that was falling, falling
Blame it on the stars that did shine at night  — Milli Vanilli

I mentioned earlier that it “felt” like the markets were likely to follow the Ruidoso weather pattern of late — sun in the morning, rain the afternoon. In other words, I was looking for an intraday fade today and that’s indeed what’s transpired.  Wonder what the mainstream media are blaming today’s sell off on…let’s look:

Stocks Sink on Corporate, Euro News

Ah, that explains everything!  That ol’ “corporate, Euro news” sell off catalyst that they talk about in the text books.  What? No?  Oh, my bad.

Anyway, other than selling those Ciena calls for a big one-day profit, I’m sitting on my hands still.

Well, I’m doing lots of homework on the stocks we own to stay up on top of the news, trends, etc.  Anybody else notice that Riverbed was up more than 20% from its recent lows where we were buying calls? Gotta have some patience to let these things play out after making the bets we’ve made, as I keep preaching.

Funny comment from this classic MTV video now on YouTube, not on MTV:

In a way, all of todays groups are some kind of version of Milli Vannili with overproduced fake music, lipsyncing, autotune, and frontmen/women who cant sing worth a shit. I actually have more respect for these guys than todays fake crap.

Think about that comment and think about how doomed Live Nation really is, when you extrapolate what a complete collapse of stadium/platinum selling artists is going to do to that company and that industry in the next couple decades.