Gambling Stage: Time to Exit

All of the good ideas are high risk/reward plays. At least that’s what I’m finding in my searches. I’m going to stop myself from making mistakes and sit this market out for awhile. My internal goal was to hit +20% by the end of Q2. I did 23% before the end of Q1.

Going forward, my goals are to accomplish +5% in both Q2 and 3, then another +20% in Q4 to give me a +50% for 2013.

The stocks I have now are low brow: BV, FRO, HIG, ZAGG, accompanied by an array of old man stocks. My short positions are CCL, JCP and AG.

It’s the end, gents. Time to make a graceful exit now, while you can, else leave in disgrace Andrew Mason style.

There’s no need to search the market for ideas. The ideas will come to you, when the time is right. Rejoice in the gains you have and retire like the slobbishly fat men you all are.

As for me, I allocated 8% of my assets into fixed income yesterday. I’d rather not say where, as it might compromise my disguise. Nevertheless, April beckons and “The Fly” is making an early exit (tips hat).

I don’t mean to boast (although I really do), but you should be paying very close attention to Señor Tropicana now–due to the sublime nature of his market positioning. There are times when the market commits heinous acts of injustice to his person. Thus far in 2013, the exact opposite has been the case, as he’s been “steadily raping” all indexes for as many days as the moon has risen.

Following my sales, the market dropped off the table, leading some of my stocks to the pig house too. But I’m cash rich and error poor. The whips are firmly gripped inside my palms, speeding at a terrifying pace in a calash as dark as night and as bold as the bomb over Hiroshima.

Ideas will be forthcoming this evening.

I got lucky on my USG sale. I think the analyst who said wallboard pricing is biased to the downside is very short sighted. Longer term, USG will do fine. I only sold to protect my gains and raise cash.

Through today’s sales, I am now in a very neutral position, 50% cash, 10% short and 40% long.

VHC cratered because it could and the market is heading lower because it can. It makes no sense to investigate the rationale for the decline, whether it be rumors of an Italian debt downgrade or defunct bank in Spain. The simple fact of the matter is, news is only a temporary condition. What’s important to remember is the institutionalization of too big to fail and supporting the stock markets, worldwide, by any means necessary.

That is the mantra and the official policy of every central bank in the world. Having said that, the markets are permitted to decline 5-15% every so often, to feed the tree of misery with the blood of the less fortunate. I’d be a fool not to lock in my 23% gains and coast until Fall. There’s no reason for me to trade like a wild jack-rabbit.

For money?

I don’t care about money. Trust me, I would care a great deal if I didn’t have any. But my principal motivation is being right–always has been and will be.

Look at today’s biggest losers by industry.

What’s wrong with the picture?

Silver shouldn’t be on that list in a weak tape. The dollar is up, bonds are up and risk is off. This tells me silver and gold are no longer being used as hedges against risk. There isn’t to be any respite given to the longs of silver miners.

Pay attention, as the market is spiraling higher now on another temporary phenomenon, silver stocks are decidedly lower.

I just doubled my short position in AG.

I have no position in VHC, having sold it all above $35. But this just pisses me off.

VirnetX (VHC -10.1%) is tumbling to fresh 52-week lows on strong volume, as the Street continues weighing the fallout of an adverse jury ruling in its patent suit against Cisco. Last week, the judge presiding over the suit issued a final judgment declaring 12 VirnetX patent claims invalid, and denying all pending motions.

I am not sure if the stock is getting poleaxed due to this “news” release or the specter of a likely AAPL appeal or a major fund sold out of its position. Nonetheless, the contents of this news release are patently false, viz.

VHC lost the CSCO trial, but the patents weren’t declared invalid. As a matter of fact, the opposite is true, as their patents were confirmed by the jury, just not applicable against CSCO.

AAPL still has to pay the piper.

I sold out of CTRP, USG, ANR, raising my cash position to 50%.

I’m not bearish, per se, just not into stocks at the moment. Some of my funds are going to be earmarked for fixed income.

I sold out of my largest position, in order to raise some cash.

I am in the process of evaluating my options.

BEHOLD, gentlemen, the National Bank of Greece.

Pair trade idea, or “pairs trade” idea, as some of you illiterate like to say.

How about short Bill Ackman’s retarded JCP, long NBG? I am sure there is a 100% spread in there somewhere, as the resilient people of Greece rebound and the misfits over at JCP, led by Ron “businessman” Johnson, file for bankruptcy protection.

I added to my boat stock, FRO.

The Cyprus deal has proven nothing but the obvious: there will not be any institutional failures, by any means. If anything, the people will pay for the sins of the few. Therefore, nothing has changed but the day on the calendar. If the market is going to run higher, it will need a different catalyst, other than “hey look, the ass of Greece isn’t defaulting.”

I’m still waiting for my prize, the grande finale, which is coming before tax day.

Let’s see how the market opens, before making observations. Right now, futs are higher, but well off the highs. Nothing special.

Wall Street is going to be overflowing with cocaine tomorrow.

Get ready for the traditional sunday night bailout, sending futures to the freakin’ moon.

Futs up.

Silver, gold down.

Euro up.

Bears’ morale down.

Get up to minute updates via Twitter #Cyprus wire.

Gyeah!