Buying When It's "Wrong"

Tuesday was an interesting day to say the least!

Media Coverage of Things Apple is Worth More Than
I got a note this morning from Josh Brown telling me that CNBC was looking to do a segment on the Tumblr we co-author, Things Apple is Worth More Than. Now maybe you all out there are extreme pros but I was as excited as I could be. The clip was aired at 2:15 today and here it is for review:

It's a little strange to see things you have worked on shown on television. Josh highlighted the segment today as well (Apple-Zilla!) and in the clip he makes some good points on why it is useful to keep in mind how big Apple is. Apple is probably the most innovative and successful company in the history of the world, and the Apple Tumblr tries to put that success in a perspective that will boggle the mind.

Thank you Josh for the great opportunity.

Buying When It's "Wrong"
You know it has happened to you. Something happens and it's wrong. It feels wrong and you know it's wrong. Still, no harm has been done and in a cosmic sense of things it's right.

Maybe one of those rare times the cashier rings you up, takes your cash to make change and BOOM, you get an extra buck or more back. It's wrong, sure it is. But how many times have you over paid? How many times have you lost change in the sofa? Maybe it is a small measure of payback. Perhaps on a food run you leave the drive through window and discover you got an extra order of fries (cool) or an extra Big Mac (Epic WIN!) in your sack of food. That too is wrong, but again how many short changed orders have you had to endure over time? Both are wrong, but you deal with it.

I bring this up because the current market rally has felt all "wrong" since the beginning in December. The laundry list is long and distinguished and most participants are well aware of the major concerns. As of late we have to throw in market indices that are running into uncharted territory. It all feels so wrong.

Yet the market goes up and individual stocks continue to perform well.

Since December 20, 2011 the SPX has moved higher by more than 10% and the whole way most or all of the following has been true:
-Greece continues towards some kind of default
-Euro nation debt is still a monster problem
-Earnings have been on the lower end of estimates
-Bonds are screaming a large disconnect from equities
-China is unclear
-Volume has been very low
-As of late the major indices are higher than anytime since 2008, before the financial crisis
All this and more.

Yet stocks are moving. Individual set ups are numerous and finally are showing follow through. Rotation and pauses have been enough to keep things from overheating. It's almost sinister in the way things have been going. And it feels wrong.

But you have to deal with it. As long as I am finding set ups that are working I am going to be trading long even though it feels wrong. At some point the law of large numbers, buyer exhaustion, or some other factor is going to put the brakes on this market. At that point, feeling "wrong" about buying stocks will be felt in kind. Until then, take the extra buck or Big Mac and enjoy the gift. While it lasts.

Have a good night.

Tropical Storm Friday

Confusing stuff here. Weather guy on one channel at noon said high winds and 2-3 inches of rain. Weather guy on usual channel tonight says sustained high winds and 8-10 inches of rain!!?? So close, so far away. In any case it's going to be a real mess here Sunday.

Spare some Time for Claudia
Some people hate James Altucher and I think I know why. He challenges conventional thinking. He puts you in a state of unease with your long held beliefs. He also makes you think. I like him. A lot. James has written that his beloved wife Claudia has been diagnosed with Lyme disease so I would ask the readers to stop by and send some good feelings to Claudia and James:
Claudia Has Lyme Disease

Jackson Hole Post Mortem
It's Friday so I don't want to spend too much time on this. Bernanke had nothing to go with today, but used cryptic language about extending the September FED meeting to two days. The wording was "to fully explore all tools" or some stuff. Take home point:
QE3 of some sort WILL be announced at the September meeting.

Markets dropped at first on the release but then the magic words were found and a huge move ensued.

I will recap strategy going forward on Sunday (weather permitting), but it's safe to say the preternatural bid behind stocks will now return and there is going to be a huge run up before the September meeting. Bad data will only make things go higher as QE 3 is a done deal. Amazing stuff. Disgusting and sad, but amazing.

Friday Night Entertainment
Need a break after this week? You have come to the right place!

Apple is Worth More Than....
My man Joshua Brown thought up this great idea to discuss just how massive the Apple company truly is. With a market cap around 350 Billion dollars (wow!) you may be shocked to see just how much that is in comparison to other things.

What is super-duper exciting and very humbling is that Josh has allowed me administrative access to the site so I get to post ideas for the page! So awesome!! Please stop on over and take a look at the work so far:
Apple is Worth More Than....
Fortune Magazine's blog has already featured the site!! It's hard for me to explain how cool this is for me:
Apple is now worth more than ... the Great Wall of China
Let me know in the comments if you have a good one! Full credit will be given. Thanks Josh.

Pictures
Fun for the eyes.

So this is how unicorns where made?:

see more WTF Pictures and WTF videos by Picture Is Unrelated
And I thought it was magic!

I have NO idea:

see more Lolcats and funny pictures, and check out our Socially Awkward Penguin lolz!

Film Clips
Scouring the files of my mind to bring you quality things to see.

An under rated film is "Midnight Run". Great actors, great pace, the film is wonderful. Check out this scene as the cash strapped duo pose as the FBI and steal cash:

The litmus configuration?

Found this really nice tribute video for "Gladiator" on YouTube. Check it out:

Not bad.

Rock Blogging
Hit the dial to 11, it's louder!

Reader Sovereign Bohemian was looking for some old Eagles tunes. What's smoother than "Tequila Sunrise"?:

Love that one.

Heard this one on the radio today, good stuff! A-Ha with "Take on Me":


Ok, I know I repeat but I love this song:


We need some Crue! "Kickstart My Heart":

GO!

Two songs left. Let's close the show.

For hurricane Irene lets hope people remember Irene Cara! "What a Feeling":

Nice.

Last call! Grab a girl, a drink, and some lighter fluid.

Going with Golden Earring and "Radar Love":


Have a good night.