I’ll chime in on the day’s events later today, but for now, I just wanted to look at a few earnings reactions. The first one, of course, is this sucker:

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My self-talk with respect to META (which is one of my positions) was something along these lines:

• Earlier today: “I’ve got a profit on this position. Maybe I should just take the money and run. Who knows what’s going to happen with earnings.”
• A little later: “Tim, seriously, are you going to spook yourself out of every position that just happens to have earnings. Good Lord! It expires next year. Man up and stay put!”
• After the close, when META exploded almost 30 points higher: “Jesus H. Christ, I knew I should have dumped this crap and taken profits!”
• A little later, when META’s rise was cut substantially: “Meh. Maybe this isn’t a total disaster. We’ll see.”

As I’m typing these words, the conference call hasn’t even started, so I’m not sure if I’m going to hang on to this sucker or not. Suffice it to say, I sure had wished for a big, fat tumble, MSFT-style.

Another tech stock I was watching was ServiceNow (NOW). I have no position (I kind of gave up on the thing), but it ripped higher and then collapsed. Pretty cool stuff.

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Also in “no position land” is Chipotle (CMG), which last time I checked was down something like $170. I’ve always puzzled over how on earth this utterly mediocre chain of Mexican restaurants was valued like it possessed the cures of every form of cancer known to man. It’s nice to see it get wrecked.

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I remain quite light with a mere 7 positions (long gone are the days when that number was in the 30s). I’ll be interested to see if META survives the next 16 hours or not.

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