For the love of dusty lamps shades, the bears have been flattened out and stabbed with African spears, by various stocks—as of late. However, no stock has “spear-chucked” those silly bastards like American International Group, Inc. [[AIG]] . That shit is just incredulous.
This week was delightful, despite a few minor setbacks. I get the feeling, despite the market being up big from the lows, that we are about to touch down on Dow 10,000. If and when that happens, I will be obligated to sell a substantial amount of my holdings, in order to stay true to my game plan.
Until then, I like the refiners, specifically Tesoro Corporation [[TSO]] , Holly Corporation [[HOC]] and Valero Energy Corporation [[VLO]] . And, for a trade, I like Sonus Networks, Inc. [[SONS]] , Sunstone Hotel Investors, Inc [[SHO]] and General Cable Corporation [[BGC]] . Longer term, I am hopeful that Flotek Industries, Inc. [[FTK]] can get the dicks out of their ears and [[ENTR]] can shoot to $10, based upon a ramp up in orders from Time Warner.
Have a good weekend, or not. Either scenario is entirely acceptable to me.
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Have a good weekend Fly, enjoy your missives but the fuckin’ spam protection addition is hard on the head.
Everyone thinks we are going to get to 10K. Therefore, we will not.
I’m looking for my “DOW 10,000” party hat!
DOW 10,000
http://www.rallymonkey.com/video/kenindex.swf
Any truth to the rumor I heard that BP has just struck up a 50/50 deal with VRNM?
love the Warriors reference, one of my favorite movies of all time.
mrkcbill has been posting while standing in line outside the Kennedy Lie-brary.
Isn’t that Kennedy “Lie-berry?”
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Good luck on FTK management getting their dicks out of their ears.
It’s a loser and therefore needs to be sold
Enough said
Jed likes to buy his food in bulk at the warehouse club.
Jed and mrkcbill cannot believe it’s not butter, light.
Spray.
When FTK finally pops, the verbal lashing that The Fly will unleash on the FTK-haters will be a thing of beauty! As will the profits.
(Cover picture actual photo of Fly aka, “Sully,” circa 1992)
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I actually felt kindness from The Fly when he wished us a good weekend, then he turned it around and he is the uncaring bastard I know him as.
AIG was pure insanity today.
The powers that be did a helluva job keeping that s.o.b. on that $50 line all damn afternoon. I bought some Sept $55 puts this AM when it was at around $54, sold ’em when it was about $49. (I know, I watched it go lower)
Basically, the bastards ran it down to 45 and back to 50+……they maneuvered that thing like it was a supertanker. (as in: “get out of the f-kin way!”)
I blew out the puts at the close and bought some $48 Sept Calls, simply because I am insane, and a chronic gambler.
After watching that damn thing all day, I feel like a zombie, and I also feel like they are going to crank yank it up higher if they can on Monday
Filthy rotten bastards.
Good god!, talk about volume!
Good luck, folks!
John Paulson bulks up on 2% of C?
http://www.finalternatives.com/node/8950
1 for 10 reverse split?
http://www.businessweek.com/investing/insights/blog/archives/2009/08/reader_mail_doe.html
Where does it go from here?
1st link doesn’t work.
I look at a 5 month daily(S&P) and see early June..take a look it sure looks familiar to me ..I think we pull back but who knows
Meet Me Halfway – http://www.youtube.com/watch?v=aRNQS5UCQQI
Hilarious article over at bloomberg. yes funny as hell. i’m serious… i don’t remember laughing so hard reading a car review.
http://www.bloomberg.com/apps/news?pid=20601096&sid=aMiNfzF_r5Fs
unreal!
Indie – great stuff for a car buff like me. My favorite sentence: “Exchange rate fluctuations could swing the U.S. sticker by as much as the price of a new Porsche.”
Indie – INDEUD! It’s good to see auto manufacturers still have engineers that think the old fashioned way.
Obviously a car built specifically for the beartard community. Ironic that it’s likely they won’t be able to afford it:
Roughly the size of a Honda Civic, the mid-engine, all- wheel-drive roadster is powered by a W-16 engine with four turbochargers that’ll fire you forward with 922 pound-feet of face-deforming torque.
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they are out to get you fly! Although only about 3 people read Barrons, and its usually for the Tech Trader column.
Today 08:55am EST/12:55pm GMT
Barron’s Saturday Summary: Cautious on refiners and AIG; positive on integrated oil, battery suppliers, EXPD, and ATVI
– Barron’s profiles energy sector including refiners, domestic and emerging market integrated oil and battery suppliers for alternative fuel cars.
– Article cautious on Oil refiners such as Valero (VLO), Tesoro (TSO), Sunoco (SUN) and Frontier Oil (FTO) as gasoline use in US has declined by 7% from its peak in 2007 and Americans are switching to fuel efficient cars. As demand remains weak and spare capacity builds analysts are trimming estimates on refiners.
– Article is positive on integrated oil giants including ExxonMobil (XOM), Chevron (CVX) and China Petroleum & Chemical (SNP) that have reduced dependence on refining operations for profits by diversifying operations across markets. Barron’s says these big oil firms are are poised to take advantage of growing demand for fuel as the emerging middle class in Asia and South America acquires cars.
– Article is positive on battery suppliers to hybrid and electric cars such as Ener1 (HEV) as the US government moves to provide $2.4B in grants to the sector. HEV has already landed a contract with Volvo cars to supply batteries for its plug-in hybrid to be launched in 2012.
– Barron’s is positive on video game maker Activision (ATVI), which owns multi-million dollar franchises with millions of online players including World of Warcraft and Call of Duty. The company generates $4.0B in annual revenues, trades at 15X projected FY10 EPS and the stock is poised to add further 30% as P/E multiple catches up with competitions, says Barron’s.
– Barron’s is cautious on AIG (AIG) the embattled financial giant, after the stock price saw a sharp run up in price following a 1-20 reverse stock split. Barron’s says “AIG shares look expensive, given its continuing troubles and our calculation of negative tangible common equity. Its debt offers a better play for adventurous investors”.
How much is Barron’s up this year? I forget…
BTW my take on the refiners FWIW: I’ll grant you gasoline use has declined 7% from it’s peak in 2007. Why? We’re in a freaking GREAT RECESSION, that’s why. It seems to me the time to buy refiners would be now when demand is at a trough. Gasoline prices are NOT falling, I’m paying a more now than I was 6 months ago. If I can’t make money on a refiner trade with the economy improving, I should just give up trading and put my money in CD.
This is a new one: GGP offering a $10 gift card to any one of their malls!? Presented by GGP, BAC, and Express. Sounds like someone needs some cash like a homeless man pan handling for listerine.
http://slickdeals.net/permadeal/23929
I think we will have to exercise caution when it comes to taking profits on the refiners. It will be tempting when they’re up 25% or 35%, but my bet is that they’ll double, at least, in the (relatively) near future.
The folks from Barrons can suck my balls.