I was too busy trying to get the right price on my FB puts (part of a spread, don't worry, I'm still long on FB long-term) to notice the impending LNKD earnings release. Oh well, I missed out on a nice 14% bump, or possibly a 50% bump if I had played the call contracts that were way overpriced as of yesterday.

Having already watched LNKD post a P/E north of 700 this year, investors have shown that they throw caution to the wind when lining up to buy LinkedIn stock. This is the type of perfect storm I failed to consider when writing my now-infamous, hyperbolic-yet-eventually-correct short coverage on NFLX over two years ago. Same goes for OpenTable, which rocketed to absurd heights after I covered it short, but has since deflated as I predicted. I see a similar fate for LinkedIn, as today we get wonderful articles that have charts so perfect they look like they could be commercials for Powerpoint and we watch the table tilt toward LNKD as a seemingly endless flow of money heads its way. Longer term, it's a smaller player than FB, and will probably eventually relax back into the $10-20B market cap range of today, or even lower, but before that happens we'll see an extension of the current frenzy.

So this is a short term pick to get in and try to make 30-40%, or maybe even a two-bagger if macro holds up and mad money flows in, with the caveat to watch out for the top after you've hit your target.