QUICK THOUGHTS
- LNKD closed the day close to 108. I think the price action in this stock over the long-term is going to make NFLX looks like child's play. I wrote about the dynamic that will be involved in the share price over the long-term a few days after it went public. The article I wrote for TheStreet is here. It's a classic case of the logical mind being raped and pillaged by the financial markets yet again. The logical mind has a place in every facet of society and most businesses, except for the financial markets. I will be writing about the logical vs. illogical mind in the coming days.
- I think we are entering an era where governmental policies and economics will diverge from corporate profitability and progress. We have already seen it over the past decade. While individual company balance sheets in the US have grown stronger, our countries balance sheet looks as if it can crumble at a moments notice. We are caught in a self-reinforcing cycle of inept, selfish politicians putting their own interests before that of the office and the people they serve. This creates gridlock in government at the most crucial of times. The steps needed to right the ship are not being taken because the political web has grown to such a point that effective economic policy doesn't stand a chance of moving an inch.
- I mentioned during my routine weekend commentary that the easy money in the markets had been made. The first few days of this week have proved that beyond a doubt. Today's choppy, volatility ridden price action was the icing on the cake. It's not going to get any better. Turn off your screen. Take a trip. Read a book. Hang out with your kids. Go watch roller derby. Anything but mid-July trading. I can count on one hand the number of times July has been a good month. 17 years in and the month of July remains the same grind.
- NFLX hit 300 today intra-day. I see no signs of the pessimism, doubt and logical analysis of the stock coming to an end. I wrote about NFLX going up further than anyone would expect way back in early February. It was the first article I wrote for TheStreet. As long as there is excessive doubt and an abundance of logical analysis that creates doubt in the name, there won't be a top. Technically I see no signs of a top, as well. $400 by year end?
