Buffalo Wild Wings (BWLD)

Now this is more like it. I love “wings”.

Weekend Wings:

Here’s one of my favorite recipes for “Asian style wings”:

5 lbs chicken wings

Sauce:

4 Tbsp Sriracha (chili pepper sauce)

2 Tbsp honey

2 Tbsp soy sauce

1 Tsp salt

1 Tbsp finely chopped cilantro

Mix sauce ingredients well.

I double fry the wings in canola oil. First at 275 degress for 8 minutes. Then again at 375 degrees for 2 minutes. Doing that keeps the wings from having that wet, mushy feel to them. I hate slimy wings. Use a paper towel to pat down wings and remove excess oil. While they’re still hot, place them in a bowl, pour the sauce on and mix well. Doing this while the wings are still hot is the key to  the saucy flavor getting absorbed into and sticking on to the wings. Enjoy.

 Btw, the price objective on BWLD is $44.

I’ll be taking off for the cabin in the morning for a 4-day weekend. Y’all be safe and enjoy your weekend.

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3:18 ET; UPDATE: Sold @ 63.24  (3:46p)

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Who can sleep with all that’s going on in the world? I just might pull an all-nighter and catch up on my reading and research.

Hey Geithner, wanna solve the problem?!

Shut down the insolvent banks!! Isn’t that what you’re supposed to be doing? No matter how big. No matter how small. No matter how near, no matter how far.

Nothing is too big to fail. Nothing, nada, zero, zip.

A bank fails because it sucks. It sucks because it blows. It blows because…….well, you get the picture.

See, the problem is that a “certain” large number of banks are carrying certain “troubled” assets on their books at certain “egregiously” inflated prices. Disposing of these certain “problem” assets at market value or “marked-to-market”, would expose these worthless pieces of dung for what they are: “worthless” pieces of….. (fill in your preferred form of feces). “Certainly”. Indeud.

If a “bad bank” gets created (with the help of private equity) the losses and write-downs that the stupid banks would have to take upon sale to Timmy Geithner & Co. (aka “bad bank”) would basically cannibalize the capital structure of any stupid banks who sell these worthless pieces of air to our blessed government (we the taxpayers). Multiply this by a factor of 1,000, and Houston, we have a problem. In many cases, the losses would far exceed the market cap of these banks of ill repute.

Plus, how do you value the “shit”? If you pay fair market value (= $0.001) for the worthless, stinking stuff, that is one thing, but what happens if, in all your gay kindness to the banks, you pay more than fair value? How is that fair to us, the gun-toting, mace-wielding, rabble-rousing, viking electorate?  

People, these Washington bigwigs need to man up and start shutting down banks right and left, like bowling pins. Close down the insolvent banks. Give the CEOs a permanent vacation. Key their cars. Be creative. Write your congressman. Better yet, park in front of his house and stare menacingly at his wife and family.

My point is, once the bad banks are seized, the deposits get sold along with any “good” assets (can’t imagine what that might be), and the bad assets get transferred over to “Son of RTC, circa 2009”. This RTC Jr. approach will then allow for the liquidation of the bad, bad stuff (cough, cough). Why reinvent the wheel? I know these new government asshats are all about “change”, but come on. Do you really have to sit there twiddling your thumbs and racking your pea-brains to come up with a “new” solution? I know, you gotta be original. Well, while you’re sittin’ there trying to figure it all out….

………let’s get this Depression started!

(Disclaimer: liberal youse [sic] of quotation marks was unintended, and purely coincidental)

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I just got done rebalancing my portfolios over the past three days—hence, my silence. It is golden.

Let me share with you my current positions and basic methodology for one of my three portfolios—what I call the “Global Allocation” portfolio. This portfolio was up 24.20% last year, (or, more than yours) with just 37 trades (or, less than yours). No individual stocks—-only ETFs, and on a longer time frame. Why would I do this? Why share such valuable information? Because,… I’m a good man, just touting success.

Plus, I’m tired of hearing how much money people have lost. Enough, already.

See, what Joe Public doesn’t realize, (that many of you already do), is that, when you are trading, it should not matter which direction the markets go. What matters is being on the side of the trade that makes you profits, and when you’re not, repent! (change direction). Therefore, do not limit your ETF investment universe.

‘Nuff said.

Current positions (approximate percentages):

Equities: 5% SH, 5% EEM, 5% ILF, 5% FXI

Fixed income: 10% HYG, 10% TFI, 5% TBT

Currencies: 10% UUP, 10% FXB

Commods: 5% GLD, 5% SLV

Cash: 25%

No frills. Keep it simple.

I will probably move out the short S&P position ( SH) and go long SPY by tomorrow. We shall see. The trading system works off of end of day data, so I don’t try to second guess things intraday. Nothing fancy. I just use a momentum indicator with RSI, throw in some PnF analysis and apply some basic relative strength comparisons. No big deal.

Come tomorrow, I may deploy more of that egregious, no-yielding cash on the long side if the stock market continues to run, or on the short side if we start to sink again.

The basic idea with running this money is that the major asset classes are very non-correlated, or even negatively correlated, especially when you use the inverse ETFs. By allocating a percentage of your portfolio to each of these areas, you assure yourself that you will be afforded opportunities, all the time. Since you have the ability to go long and short with ETFs, have computerized charting software, and read IBC religiously, you have no excuse not to make money, no? 

Now, go make some money and let’s spend our way out of this recession.

That is all.

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As of 1:00 pm ET, 88 new stocks and ETFs were breaking out. Of that total, 42 stocks and ETFs were new breakout buys on the PnF charts. No doubt, this market appears to be evenly divided between bulls and bears. Something has to give.

The bullish/bearish pattern ratio is sitting at 0.915, still slightly bearish, with a count of 2,917 charts, 1,394 showing bullish patterns and 1,523 showing bearish patterns.

Breaking out to the upside, include:

ETFs: AIA, CWI, EWU, FXB, FXI, and SKF

Chemicals: IFF, MON, NEU

Drugs: ARIA

Electronics: BGC, WAT

Gaming: PENN

Healthcare: HOLX, LMNX, OMCL

Insurance: CI, NAVG, STC

Machinery: DE

Media: TRIN

Oil Service: CEO

Retail: BKE, RGS

Semis: MRVL

Software: EBIX

Steels: MT

Wall Street: IVZ, LAZ

Breaking to the downside include:

ETFs: DDM, FXY, IYF, IYG, REZ. RKH, MOO

Banks: WFC

Chemicals: LZ

Electronics: VARI

Foods: SFI

Gaming : IGT

Insurance: AIZ

Oil: SUN

Real estate: AIV, ARE, CLI, CLP, CPT, FPO, IYR, SLG, UDR, WRI

Retail: DLTR, JAS

That is all.

Have a nice day.

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Breakout buy.

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