I was actually trolled successfully in the LotRO forums this last week, which was depressing. I can’t even relate to the minds of low-class American society, and I’m glad.
In other troll news this week:
The Chinese government now insists on reviewing and approving every single mobile game sold in China, including simple updates. China has turned more protectionist recently, with a major court ruling against Apple in favor of some no-name Chinese phone manufacturer, for example.
A stock market commentary site opines that AMD’s new Polaris video cards are an “overhyped disaster”. I didn’t research this. I’m never buying another AMD card.
On Thursday Activision Blizzard (ATVI) stock was up 4.23%, and another .66% in the aftermarket, on the backs of praise and upgrades from Wall street analysts. Polygon reported this week that Overwatch is now the most popular game in Korean net cafes, taking the top spot from LOL.
Blizzard has also been in the news for striking deals with Facebook and Netflix. One has to be concerned about the future of its WoW movie franchise, but on the other hand, the expectations weren’t particularly high.
Blizzard continues to be the only game maker who both understands and is able to implement the power of great characters. The Overwatch characters especially are a hit with the Asian fans, or so I’ve heard.
According to some prominent game bloggers recently, Asian money is worthless to Blizzard, but for now those “underweight” investors will have to continue sucking lemons.
I visited Steam several times looking at games to buy the summer sale. I purchased Fallout 4 and Life Is Strange episodes 2-5.
Currently my characters are level 104, 103, and 99 in LotRO, so I’ll be due for a break soon. I finally have a “main” in my Warden. For the first time in a long time, I can just log in and do whatever with her, and feel satisfied with my play session, instead of feeling like I have to make ruthless progress.
I’m also doing a little multiboxing. I realized my LotRO multiboxing guide is not getting SEO on that search term (only dual-boxing), so I tried to tweak that. Here is a link, to possibly help with players who want to LotRO multibox.
This week a game developer announced a Tunnels and Trolls app, which will feature a support platform for people to make and share their own T&T modules. Unfortuntely I lost the link for this, can’t Google it either, and the main T&T website has no news on it, instead showing broken feeds.
All the Wall Street pros are extremely bearish and concerned right now about the market. I see grim faces. Big names like Alan Greenspan and George Soros are declaring certain doom. Literally no one thinks the market can go higher. Not possible. Even the bulls have thrown in the towel.
So this should be very interesting. The last time a big-name consensus declared almost certain doom was near the very bottom of the February correction. While many pros are feeling the doom, they nonetheless shoved money immediately into Nike when Nike dropped hard a few days ago.
One Nike (NKE) analyst says right now is the best entry point into Nike’s stock in the last 20 years. I’ll never buy Nike because video games. Duh.
Electronic Arts (EA) is also pushing for all-time highs in the last two days, after a consolidation phase of almost one year. It was about this place last July. If it breaks through, it’s a buy.
Of course, the same pattern is in place for a lot of stocks, and the entire U.S. market right now. So it’s hard to buy one stock on a breakout if the overall market fails.
An exception this week was Verizon (VZ), which dropped almost nowhere on Brexit, due to its big dividend, and broke out of long-term resistance to new highs instead. This is demand due to worldwide low interest rates.
I bought VZ on Monday at the bottom of the Brexit frenzy, with my stop at $54/share on the long term breakout, and so far it’s golden. It drops early every day, but just won’t go down. It just goes up.
The question in my mind is whether the smart money has sold (distributed) in recent weeks, and we have massive holdings now in “weak hands”. (Namely the buyers of the Brexit dip.) This could cause the market to drop massively and quickly. Or it could cause the market to go crazy, if it breaks north and the smart money is sitting there with their jaws hanging open, and their pockets dripping with all their cash on hand.
I could go on about record outflows in the last years and months, international dynamics of money flow relative to other countries, etc.
According to a report yesterday, the big hedge funds were buying mostly energy and materials in this last quarter.
Kinder Morgan (KMI). A few pros have mentioned liking this stock in the past week. Others have given up on it. It’s been stuck in a straight horizontal consolidation for four months. If it breaks to the northern latitude, it might be worth a shot with your stop on the top line of the consolidation band, of course.
Valero (VLO). One of my all-time favorites, this stock was pummeled today on news of a lawsuit in California, with accusations of gas price manipulation. This big selloff was met with solid buying through the day, however, forming another big bottom tail (candlestick.) This could be a bottom for Valero, because the news can’t be any worse. I’m looking for VLO to break out of its downtrend line before girding my loins, and who knows.
Pushed To The Back Burner:
Dow (DOW) is laying off a bunch of workers due to its Corning restructuring, and some say the time isn’t right to buy – better after the deal with Corning is complete. That’s going nowhere close to breaking out right now.
Visa (V) saw strong buying after Brexit, relative to the market, but lost a legal action late in the week, resulting in a 3.4% drop. Given that Visa also tends to trade with the currently treacherous financial sector, that’s also a no-touch for now. Very glad I was disciplined and sold several days ago.