BACK INTO DRUGS

I started a new position in NK, courtesy of The Devil.

This is precisely what I wanted to happen. As the market dipped into the red and all appeared to be lost, Le Fly picked up his Morals and Dogma book and spent his time educating himself about the perfidy of man.

It didn’t take long before the bears were captured and then kicked into sewer pipes. Markets are ignoring weakness in crude and driving liquidity back into biotech, tech and everything in between.

Truth be told, breadth isn’t exactly inspiring and there is some work left to be done. But on the whole, this is ideal, a market built and made to destroy anyone who bets against it.

TWTR is shooting through the rood and BIDU through the floor boards. It’s a tale of two markets and I own both.

For the day, I locked in my AMCX gains, added to BIDU and SLCA and bulked up on GILD–making it my 2nd largest position.

As everyone seems to be getting prepared for end of days scenarios, stockpiling food, guns, ammo, living inside of concrete holes, Le Fly (as he is popularly known in France) ignores it and goes about his days unfettered.

Why?

Here are the 9 main reasons (I’d provide you with a slideshow if I knew how to construct one, for maximum waste your time effect).

1. I don’t give a shit.

2. For real, zero fucks given.

3. Just in case you missed it, I don’t care.

4. Zero fucks, shits, and all of that stuff.

5. Still don’t care.

6. Nope.

7. I wake up and I breathe in and breathe out, saying with a yawn “I don’t give a shit.”

8. I care less now than when I began this stupid article.

9. Save yourselves some valuable bunker time; Le Fly just doesn’t think life is that interesting to save.

The market halved its gains following oil inventory numbers. Is that where we are now, dependent upon meaningless data to embolden us to be brave?

Russia is sending war ships to Syria, firing off missiles, and I hear people call Obama a coward. So what exactly would you have him do, engage the Russians or send ground troops to rout out ISIS?

We’ve been at war since 2001, carrying the mantle of freedom and honor to a savage people in a barbaric land. Let the Russians have their fill. We’ve dropped 14 years worth of ordinance on those bastards. Russia does it for 1 week and the internet is back to cradling Putin’s balls again. Please.

If you haven’t noticed, the content is flowing out of iBC these days. It’s part of a new strategy to completely annihilate whatever finance blogs are left in the fray. Also, be on the look out for a total redesign of the site, sometime this week.

Back to stocks. It looks like my call for a crazy faced rally was a bit pre-mature, with the NASDAQ negative now. Still, I am doing fine in CLX, UNFI, FCX, TWTR and recently sold out of AMCX.

Should we close lower, I will concede that might bode very poorly for tomorrow’s tape. The day is young. Let’s see if the bulls have it in them.

I sold out of my AMCX position. It was my largest. I am chagrined, greatly, by BIDU. I am sure there’s a reason why it’s lower. Maybe they sell beakless chickens to YUM on the side. Nonetheless, I remain a shareholder.

Surveying the field, I see dead bears strewn everywhere. Commodity related names are up 20,30, 50% over the past week, which makes it hard to buy. But I did so, nevertheless.

I added to my SLCA position, not giving a single fuck about the oil inventories that just came out. This isn’t a fundamental story, but liquidity driven squeeze.

Also, I bought GILD down here. I realize biotech is hated. Good thing this isn’t biotech, but instead, one of the most profitable and innovative major drug company on the planet, selling at an absurdly low valuation of 10x earnings.

I understand it’s very chic to hate on China. All of the ugliest hedge fund managers (Chanos) are short and we are told often about how much they’re fucked.

Just a quick reminder here: The United Steaks has $19 trillion in debt. And China has…

$3.5 trillion in reserves. Granted, thanks to Yuan devaluation and subsequent market calamity, that number has dropped by over $100 billion, as of late. But who’s counting, really?

The hyper growth phase in China is over. Now is when they mature and become consumers, like us. Bear in mind, 90% of the companies listed here, from China, are 100% shit. So if you want exposure, you’re probably best served buying an ETF, like FXI, or one of the mega caps, like BIDU.

Markets are off to the races. The NASDAQ will rise by 10% this month. It has been written. Therefore, it shall be so.

**NASDAQ FUTS UP 35**

Higher

Beer stocks are burping higher, after Imbev’s alcoholic induced decision to bid $104 billion for SAB Miller. Naturally, SAB rejected the offer, likely due to not fully understanding what was going on–thanks to alcohol intoxication.
STZ +1% Gold stocks the fuck higher, as well as oil, off weaker dollars and higher commodities.  MS +1% on an upgrade, JNPR up on takeover rumors

Chinese related names are higher, including WYNN–because Steve Wynn, for all intents and purposes, is as Chinese as they come.

Here are those metals popping higher again: MT +8.6%, HMY +5.4%, BBL +4.2%, BHP +3.8%, FCX +3.3%, AU +3.1%, VALE +3.1%, GOLD +2.9%, X +2.8%, AKS +2.5%, AA +1.9%, RIO higher by 9.5% on supreme shit talking by an analyst.

And here are them black gold stocks: Select oil/gas related names showing strength: SDRL +5.9%, SD +4.8%, SSL +4.3%, BP +4.1%, DNR +3.9%, PBR +3.7%, TOT +3.5%, RIG +2.8%, RDS.A +2.7%, NE +2.5%, CHK +1.9%, COP +1.5%

TWTR the fuck higher by 1.5% on Prince Alwaleed stake claim.

Lower

YUM -15% because their food is 100% shit and China is keen to them, NUS -15% continuing a rich history of sucking and destroying shareholders in their ponzi, MON -4% after embarassing themselves with the biggest earnings miss since reinsurance company Pompeii Limited went bankrupt following the city getting swallowed whole by a fucking volcano,

TSLA -2% on another analyst downgrade. They do this every day, as a routine. Wake up, drink coffee, downgrade TSLA.

NEON -16% because God hates them, RPM, PAH and ADBE all lower; fucked.

Pharma weak again because it’s not about them anymore: AZN, TEVA, SNY, SHPG all lower.

AXPW -55% in clowns coming out from small car, laugh out loud, fashion. They played themselves. ADXS -20%: fucked, CTRV -14%; bad offering, fucked, SUNE -3%; out to kill Einhorn, MCD -1.4%; yuck, GPRO -2.3% on a timely Morgan Stanley downgrade, JCP -2% on a Citi initiation of “holy shit how is this still around Sell.” Talk about if you don’t have anything good to say…

The once famed and legendary investor, the one who bought Citi when no one else wanted it and who is known to get into heated debates with the Fortune 400 analyzers about the value of his fortune has done it again. He’s taken a stake in TWTR!

No word as to whether this position will be used to influence the social media giant into sparing Saudi Arabia from a repeat of the “Arab Spring” that was so widely shared on the network.

06:16 | TWTR | (27.62)
Twitter: Prince Alwaleed Bin Talal discloses 5.17% passive stake in 13G filing

This is an amazing stat, especially considering the fact that the broader indices held up well.

The sector as a whole lost $78bn due to its performance in August, the worst monthly absolute fall in assets since October 2008 — the month following the collapse of Lehman Brothers — according to research by Citi.

There’s a twist to that stat, however. Assets uder management have trebled since 2008 to over $3t. Nevertheless, firms like Greenlight (-17%) and Pershing Square (-12%) got absolutelty poleaxed in the month of September. It was as if all of the hedge fund hotels were detonated all at once.

It should make for a most interesting October.

U.S. futures reversed an early deficit and are now higher, as Asian markets battle ax the heads of haters and oil catches a bid, up 1.7%.

The dollar is marginally weaker and all hope appears to be waning from the disheveled and unkempt camps of the bears.

DEVELOPING…