It’s official. The PPT aka my time machine is nailing overbought/oversold ranges like Lenny Dykstra nails stupid. Since QE2, things have been a little abnormal in the market. However, as of late, traditional correlations are working again, effectively strengthening the wizardry of The PPT. Nevertheless, I am content being half in, due to my desire to wait things out. It’s important to remember there isn’t a reason to rush trades. I have a very concentrated position in the refiners and silver now, it’s as if I was 120% long, thanks to their asinine volatility.
Believe me, I am not complaining. But since when has SILVER of all sectors been leadership? The daily percentage moves of these stocks are astounding. I fear the volatility of the precious will assassinate the good Senator one day. He must drink a lot of Pappy to soothe his nerves.
If I was buying today, without a doubt, I’d add to refiners, mainly WNR, CVI, ALJ and HOC.
UPDATE: PPT sub has some insight into SHOMP
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da man!
Sill holding my WNR, and not complaining.
Vicadon and Demerol cocktails.
With Pappy.
_______
With a little morphine drip to boot?
At the risk of banishment, I’m going to pass on a note voted the best investment advice of 2010:
“Stocks are like your WNR, if you don’t play with them they won’t grow.”
Peace Out.
Dear Mr. Fly.
Thanks to your posting, and as a subscriber to PPT, I knew about the oversold.
But didn’t take advantage of it properly. Saw AAPL at 331 while PPT hit 2.55 or 2.56.
Could have made seriously good coin but was too scared.
Still got into DIA and SPY last night and made some respectable coin as of 1pm 5/18/2011.
If this rally lasts 2 months, I will be happier.
Thanks.
Scary trades are always the hardest and the most profitable.
Vlo should be on there..It held up well under squeeze last few days.
I like high beta.
Yes! Bring on those lower BB kisses!
your alj, is fine, i remember when you got in. even with the last 2 weeks your still in the money. gravy, all gravy
Lok out ladies she’s bout to ‘splode!
complete and total victory! my short calls on ZSL, BGZ and FAZ are monster gains in just three days. My WNR and CCJ have come back from the grave.
I may actually be able to help my father in law out of foreclosure due to all this. Praise God.
Fly thank you for your blog. next stop PPT subscription.
If that is true, I am very happy to have helped
Congratulations…I hope it all works out for you. Viva Le Fly !!
Congrats!
I have no financial interest in the PPT or iBC.
Just wondering why those who presumably have $1000’s in the bank, agonize for months over a $50 1 month trial subscription decision.
Agonizing over every last cent is how they got those thousands in the bank. ……I’m just sayin’……
Placed a feeler bet on BKS. The action feels like accumulation. Wouldn’t be surprised if a buyout offer is announced in the coming weeks.
Getting Shorty….bought CLF, GLD and PCLN puts
Sold NVDA from earlier this week, locking in a minor win +2.50%.
Better than a sharp stick in the eye, i guess.
Yea, I’m getting churned from the 20+ past days where the DJIA moves an average absolute range of 100+ points intraday. I’m raising cash here and paring down positions until I get a better read.
Sold POT for roughly +6%. Picked up some VXX 23/24 vertical call spreads just in case.
BAC bank of america is trading on more volume than the SPY sandp500 etf today.
If it can just bounce or stabilize this drop, the indexes may follow upwards to another leg up, this week.
Basically, BAC is the market right now.
You are dreaming. There is a 10 to 1 price ratio on those instruments. BAC leads nothing.
actually, BAC C JPM WFC lead the XLF . And, the XLF banking sector is one of the main components of the sandp500.
Go watch your useless level 2 screen , and options heatmaps. The ratio indicators you follow haven’t meant anything for 2 years.
Just pull out my full line in BKS.
Fuck this volatility. Off to currencies. Time to short the Euro as Greece breaks away from Europe and sinks into the mediterranean.
The USD may be a dog but its the best looking horse in the glue factory!
The Euro will be stronger if they cut loose Greece and some of the other weak sisters.
Fly – I’ve secured a deal with both Xe Services and Triple Canopy for discount saboteur services. Be sure to post what carrier you use for your next furniture purchase as well as the ship date, as the condition of the goods upon delivery to your domicile inversely correspond to my daily gains.
well see with these fuk ed reports tommara
Anyone know the symbol for LinkedIn for tomorrow?
That chart! That chart is a humpbacked head and left shoulder – DOOM!
Regarding the title page photo-
On seeing The PPT, The Fly is reputed to have summoned Jeremy and ordered “Build me another PPT, but twice the size.”
My dear Mr. Fly,
Crack is crashing. How can you be so gung ho on the refiners??
“…the way Lenny Dykstra nails stupid” Hilarious
Speaking of nails, too bad about Harmon Killebrew dying of esophagial cancer.
Not much you can do for that type of cancer.
Guys like that put Lenny to shame.
Fly, please take a look at the chart on FCGL. It looks like a money maker to BTFD on, but it’s leveraged enough to have me question whether or not I have the balls to play it. I sometimes get paralyzed by my fear of loss.
i dont look at charts
What is darn interesting, did you notice the US Dollar moved up on the FOMC minutes while Index move up into the close. Yes, the SPX held that 1322ish level that I was watching….but the US Dollar is also holding above the 75.00ish level. For myself, watching the Advance-Decline Volume on the NYSE we are still in a downside bias. We will see tomorrow which way this thing is going to break on….flip a coin…The Clam shot all his bullets this week…lets see what happens.
ter started at buy@ c
Goldman Sachs just dropped a sell rating on Intel. All I can say is, thank you Goldman Sachs for being so stupid. I have had a buy order in for Intel at $22.50, for a week now, and can’t get it filled. Maybe this downgrade will panic the bulls and help me. It is obvious that the geniuses at Goldman have never heard of Moore’s law. If they had, they’d know that Intel’s 3D transistor can be a game changer. If there are any tech people out there in Fly country that see this differently, please show me the error in my thinking before I make an error in my trading account.
http://www.pcworld.com/article/227260/intels_3d_transistor_why_it_matters.html
dont fight the tape, lol.