WTF IS GOING ON WITH CARL ICAHN?

Look at this lunacy.

Carl owns 90% of the shares, by the way. I am sure this frothy run higher does wonders for his Forbes 400 standing. I am trying to understand what people are thinking, gunning this stock from $36 to $120 over the past 12 months. Granted, Carl is the man. I love him and wish to enjoy a morsel of his success during my lifetime. However, all things that are hot turn cold.

Case in point: me.

They’re trading Carl like some sort of social media internet stock on steroids.

Nevertheless, I wish Carl the best and hope IEP goes to $1,000, making him the richest man in the world.

As I plan my rebirth, you may marvel at The PPT and all of its glory.

SHOMP.

http://www.youtube.com/watch?v=ZYUziemo6A8

As predicted by The PPT, the market is bouncing. It’s bouncing because it reached a stress point that has resulted in past success. HOWEVER, as it pertains to me, previous success is not indicative of future performance. Hence, as such, I am being dismantled.

Observe how this is playing out; it’s quite sublime.

I sold out of TRLA and JAZZ yesterday and both are sharply higher today. Instead of putting the money to work, I opted for cash.

My largest position is down 9.5%, with hardly anything to hedge it since my longs are tepid. BALT and RBCN are up, but barely. NSTG is up, but on low volume.

Now I can go out there and do two things.

1. cut my losses on ALJ. This seems like a reasonable course of action. However, it is very possible that the lows have been seen in this stock and it might go sharply higher in the coming months, as spreads improve.

2. Start new positions to try to make back current losses. This is the traditional course of action, one that has preceded many losers throughout the generations.

As I am presently situated, do I really want to do this?

As I write this, the market is up and I am down 2.2% for the day, making this week a -10% showing for me.

The Fed is going to announce QE forever, vis a vis setting conditions for tapering at 6% unemployment, down from 6.5%. On this news, the market will go haywire. Clowns will parade down Wall, shooting themselves out from carnival cannons and everyone will spit on Rick Santelli.

The Twitter IPO wreaked havoc on the rest of the social media space today, giving a gift to the annointed. I sold TRLA because I’d rather own YELP. I justify taking losses and raising cash with the fact that ideal stocks are now discounted and ripe for the picking. I will exercise my best judgement to buy into this blood, knowing that Mr. Bernanke is going to give Wall Street the finale of a lifetime, before he tips his hat goodbye.

Let the market come in. Bring your shovels to the match–because we’re gonna bury those fear mongrels once and for all.

Twitter is going lower and fear is in the air; but so is the marijuana blunt smoke from a man waiting in the cut, savoring the moment to bring forth his penis guillotines.

I was going to sell a few things, but have been easily swayed to go to the gym instead.

BEHOLD the magic of The PPT

Naturally, trends are made to be broken, so keep this in consideration before mortgaging the house.

UPDATE: I sold JAZZ (+8%) and TRLA (-12%), in order to make room for other/better stocks that are now cheap.

All of the money has moved to Twitter savings accounts. There isn’t any money left to support the rest of the social media space. Bids are being hit, hard and fast, as the nerds at Twitter get richer.

These big IPOs never go smoothly.

Twitter is public and its share price has soared, at the expense of the rest of the market. It’s a sell the news scenario and it’s all the rage. At $26 billion, Twitter is cheap, based off 2020 earnings.

EVERYTHING THAT I OWN IS DROWNING IN PIG VOMIT.

These stocks can’t drop fast enough, crushing me into a vise lined with steel spikes.

I am down another 1.5% this morning and will continue to suffer, as ALJ, BALT and RBCN get steamrolled.

My advice to you is to run. Run as fast as you can from this cursed place and go live a simple life of sheep herding or raise some llamas. This Wall Street business can be very rewarding. It allows you to spend money, gratuitiously, while laughing at the plights of the working class. However, every so often, this god foresaken job sucks the life out of you, tossing you onto the Devi’s BBQ to be slow roasted during periods of mediocrity and underperformance.

As for BALT: earnings were exactly where I thought they’d be. This company is on the verge of profitability. I am sticking with it.

Oh, by the way, remember that loser from Seeking Alpha who was wrong on AMBA? Well, he did another hit piece on FLTX and was wrong again.

After the bell, Twitter priced its stupid ipo at $26. If done correctly, the opening tick will be north of $35, sucking the life out from the market, just like FB.

Also, my ALJ reported WORSE THAN EXPECTED earnings. This was expected, from me at least. The refiners are a forward looking play, not last quarter. There’s a reason why these stocks are down 35% in recent months, so you shouldn’t expect stellar earnings.

BALT reported BETTER THAN EXPECTED earnings and will paint a portrait of grandeur tomorrow morning. Things are getting better and the company is leveraging up to sail the seven seas, taking bounty along the way.

I was down 4% for the day.

Leverage can be a bitch sometimes.

NOTE: BALT’s beat was its first upside surprise in 5 quarters, a big deal. Going forward, I expect them to get into the black and report profits, during 2014.

There isn’t anything left to say or do here. It’s obvious to me that I’ve been singled out, cursed by some celestial being to suffer from mediocrity. This same mediocrity has plagued me for the past 2 years, always occurring in the 4th quarter. It creeps up, ever so slowly, then BAM!: decapitation.

Just to recap what I’ve witnessed today, in a nutshell.

The Dow Jones went up 50 points in the morning, all the while my holdings roared out of the gates, like hungry lions trapped inside of a sweat shop. “The Fly” took this opportunity to head over to the gym, for a little bulking up. By the time he got back, his position were covered in blood, but the Dow Jones was now up 100 points!

REVERSAL! in NSTG

REVERSAL! in BALT

REVERSAL! in JAZZ

REVERSAL! in TRLA

PLUNGE! in RBCN

More downside action in ALJ.

Like I said, there isn’t anything left to discuss. I’ve made my bed of fleas and now lie down in it, drifting away like a log in a stream.

BALT owns and operates 4 Supramax vessels, making more than $12,500 per day to do so.

If you look at the internals of the BDI, you will see consistency in both Handysize and Supramax rates, both to the upside. While capes have gone lower, over the past 30 days, both supras and handys have risen by more than 20%.

As far as I see it, the only risk to this trade is dilution. These greedy pirate bastards wants to raise capital in order to buy MOAR boats–because they know the trend. They understand the fact that overall vessel population is growing at a historically low 4% per annum and it’s only a matter of time before rates soar.

Having said that, I am merely talking my own book, so take it with a grain of salt.

Z posted great earnings. TRLA will trade higher, as a result.