I’m long this most egregious pile of steaming shit in what is supposedly a “long term” account. I’m adding at the 200-day, which, if breached, will irk my ire greatly.

You’ll notice that since PBR went Lima on shareholders and broke out of it base in May of 2007, it has only touched its 200-day MA once, so I think this is a safe place to add.

And I’m back.

Basically, (WYNN: 100.175 +2.42%) looks like a piece of garbage up here. 100 is resistance, and I’m tempted to short, but maybe I’ll wait to see how it goes tomorrow at the open.

I got stopped out of (BBBB: 40.00 -0.22%) at 39.  Fuckers.  Forget that one for now.

(AAPL: 166.32 +2.65%).  I decided to cover my short into earnings.  I bought a long guts option.   Big tech has been homohammered post earnings, and (AAPL: 166.32 +2.65%) is in a clear downtrend.  So that’s my idea there, we’ll see what happens.  However, since I am an AAPL fan, I and know how tight their shit is, I didn’t want to just bet against them.

Today’s rally is not being reflected with much strength in the iBC Machine.

The Machine for the last few days has begun to show depressed readings that have historically led to a bounce. I still expect this, though it is impossible to gauge the strength and length of the bounce. Due to the environment, I am skeptical a bounce would last more than a week or two.

If today is the start if said bounce it sure is being led by weak readings. The most basic indicator, the number of stocks up big on heavy volume is low, especially when compared to some of the sell readings we’ve had lately. Historically, and in line with personal expectations, I’d expect to see noticeable buy interest in a market poised to go higher.

The two sectors bouncing hardest today are Banking stocks ((STT: 71.57 -3.60%), (CNB: 6.74 +5.97%), (TSFG: 6.74 +5.97%), (FBC: 4.5799 +7.01%), (FED: 10.4075 +52.16%), (FHN: 10.60 +14.59%), (BANR: 13.009 +4.91%), (WM: 4.86 -16.49%), (PCBC: 15.09 +1.41%)) on a relief rally and Healthcare (Alpha’s List) as money looks for a safe haven.

All told, I am amazed by today’s rebound, but remain skeptical. Which of the myriad, unprecedented, huge problems did we fix today?

Well, I finally did the dishes. That was a subprime crisis affecting the South kitchen basin region of my palatial Pacific Beach estate. But alas, it didn’t deleverage the banks.

Today did the following things at the following prices, with notes:

Shorted:

(ANF: 63.40 +4.91%) @ 55.25 (note: got short yesterday at 54.25)

(AAPL: 166.32 +2.65%) @ 173.07 (note: got short yesterday at 175)

(BBBB: 40.00 -0.22%) @ 35.73 (covered my puts yesterday which I bought at 37, decided to short stock to 20s)

(WABC: 52.95 +5.37%) @ 45.23 (Fly rules)

Got Long:

(BEAT: 28.09 +0.86%) @ 29.24 ( I hope my DNA tell is on.  I may be a little early.)

(EXAC: 30.36 -1.24%) @ 31.04

Sorry, I just felt like rumormongering, surely you understand.

The market is listless, as it bounces from one corner of the chart to the next.  Like RC, I am more in a wait and see mode.  I have bets on the table–that’s good enough until the next chapter unfolds.

The oils have bounced nicely off their trendlines, and I hope they hold on this current test.  Coals, however, remain in a state of disrepair.  Chart-wise, not future fundamental-wise, I don’t like them as much as I like the (NOV: 75.20 -5.41%)s and (RIG: 137.40 -6.33%)s of the world.  Also,  Natty G appears amiable, specifically (HP: 58.13 -5.88%).  They sure do climb as wall of worry, don’t they?

Meanwhile, I’m not playing a coming bounce long.  Sure, I’ll go long some stocks like maybe (VRUS: 18.98 +1.01%), but mainly I want to re-short.

I still have lucrative vendettas against (BBY: 39.70 +1.53%), (FMCN: 28.52 +6.70%), (ANF: 63.40 +4.91%) (bastards), reverse horses, (NCMI: 13.43 +7.87%), (DMRC: 14.161 -0.27%), (VLTR: 16.081 +1.01%), (STEC: 9.81 +0.72%), (DBTK: 11.91 +0.76%), gay electronics, hotels, casinos, and your house.

Final blasphemous thought:  Tech looks rich, and I want to short (AAPL: 166.32 +2.65%), especially if it can’t break 180ish and then the 190ish.  Fuck the iPhone.  Although the bloomberg app is pretty cool.

This gives the “I’m going to make a shitload of money” tingle in my special zone.

That zone is my wallet, you prevert[sic].

Buy VRUS on a breakout above 20.30 odd. The Stock Schweppes Shows that momentum is just starting to build.

In addition, I’ve decided to use the pending breakout of (DNA: 93.75 +0.21%) out of a 3 year channel as my clue that money is REALLY flowing into this sector. Watch for the breakout, then successful test, then get long a bunch of crap like (EXAC: 30.36 -1.24%), (BEAT: 28.09 +0.86%), etc. and enjoy the fruits of sector rotation.

I rarely get sick and am pissed off that my body dare succumb to viruses and leave me bedridden with a fever, like a common gypsy. It is insulting to me that I feed my self rare steaks, soak in the vitamin D, and cool myself with oat sodas, and this is the thanks I get?

Moving on, I now feel great (white rhinos played and important role) and have resumed my former post as a pillar of health in the community.

The market.

iBC Machine is still negative, but has a couple oversold indicators. Like many other indicators I look at, it seems to suggest a reflex rally is nigh, but lately I get the impression we’re just going to stay oversold for longer than expected and bounce following some crazy washout.

Check out the new and fully automated Makin It Rain Indicator. It’s really a TSI line. I renamed it. The red line is where historically putting on new shorts hasn’t worked out, including analysis of periods going back to the 1980s.

Here’s a weekly of the ol’ SP Five hunned.

Currently, we are at an area where bounces have occurred (beg. of 2008, JAS 2004), but historically the reading could go a lot lower (like in 2001, 2002).

Few stocks make it to above 50 on the topside and below -50 on the downside. So I searched through 7000 stocks and these are the few that came up.

Overbought: Though the stock is bullish, I wouldn’t add or buy here. You can infer from this that the stock is shortable for a few points, with money management stops in place, but mostly it’s that momentum is peaking.

(DMRC: 14.161 -0.27%)

(AMGN: 53.64 -1.76%)

Oversold:

A lot of banks. I didn’t see much that peaked my interest. On the list was banks of all sorts, (NVDA: 11.70 +2.81%), (ACLI: 10.62 +0.19%), (FUN: 20.27 +4.15%), (CNH: 39.10 +26.13%), (OSK: 20.41 +8.22%), (HTZ: 8.86 +6.62%), media, newspapers, a casino or two. The problem with these is that they aren’t oversold for reactionary reasons, they are oversold for fundamental reasons, and as such, I don’t like any of them on betting for a bounce.

I put a stop on my 22.5s, ensuring me a triple digit bank, since I put the position on when the stock broke 26. It seems like only days ago…oh wait, it was. Don’t forget about the BBBB puts, those are still good-ta-go.

It’s sad, because I know this bag of Chinese horseshit will trade lower. However, my options expire in a matter of days, and I don’t like playing that close to the fire, especially with ridic gains.

With temerity, I am buying some Aug Puts, but I am bracing for some bouncing back to the 25ish area to add. Also, I’m only risking a third of the gains I just made.

I will use the proceeds the bomb the vector that made me sick.

Brief Aside: WYNNing is fun, even while feverish.

Other comedy: The Dow sucks and should be disassembled.

One More:  I will now use the proceeds to find Charles Dow, and pee on his grave, á la Ozzy at the Alamo.

I am sick with Dengue Fever.  It’s pretty shitty, but the beer cools my throat.

Anyway, I’ll make this brief.

I missed most of the market action today, but, as highlighted yesterday, the bounce is upon us.  So that was pretty easy.

Today was a big day for the iBC Machine.  The buying was huge and, well, that’s it.  It’s still bearish, but we have begun the reflex rally.

It seems like Financials are a tired short and if that’s true, then that’s great news for the market.  More likely, we’ll rally some, probably a week longer than anyone expects, then everything will get sold again.  I don’t think all the problems are behind us, though I’m sure they are preparing to say that on TV.

I can’t say how long it will last, but it still makes sense to get long here.

I highlighted DNA as a possible short, and though that stock is still guilty until proven innocent, biotechs, drugs, and health services broke out today.

I would watch that sector carefully.