Full Retard Day

There are scores of vagabonds lining up against the walls of Apple stores this morning, throughout the nation, clamoring to get their greasy fingers on the new iPhone. The people want to be fingerprinted and they want to do so at once. Clearly, the new phone is being hailed as a major success, which bodes well for shareholders of Apple. I happen to own the stock and would never consider selling it.

Futures are neutral and a certain biotech stock, RNA, is being dismantled. That’s the problem when investing in development stage biotechs. They’re all pinless hand grenades, waiting to blow your arms off. I’ve kept away from them on purpose, knowing full well of the damage they do when they go wrong. If you recall, I made a commitment to buy a few biotechs, TTPH and ICEL. However, I never got around to doing it.

My YELP soared to new highs yesterday. I love YELP and feel they will get bought out; but this valuation is lunacy. A simple man, such as myself, can only pray to the old gods for a dip in YELP, so that I can add to my position.

Lastly, ANGI is probably the cheapest and best social media stock that has yet to run. It makes no sense for TRLA and Z to run with their tits flopping around, all the while ANGI gets pinned to the ground, trading at a mere 6x sales.

On an apples to apples basis, ANGI can trade upwards of $60 and still be considered “cheap”, compared to other social media stocks with similar growth patterns.

I announced today, inside of The PPT, that I was going to liquidate my position in IMMR. Since I’ve been talking up the stock for what seems like forever, I thought I’d share the reasons for the change in heart.

I don’t need them anymore.

When I took down the position, my gains were a paltry 15%. I was meandering around town, looking for illegal Mexicans to work inside of my house. Now that my house is furnished and restored, I am kicking the Mexicans out, in this case IMMR. I’m up 55% for the year, laughing and stabbing at the peasants with megaphones and sharp knives.

The stock behaves like it’s on a permanent siesta, likely due to a large shareholder, who happens to be on the goddamned board, who is selling–all the time. Because of this, I’ve lost patience in the name, due to the wide variety of more attractive opportunities in the ocean of ideas.

I sold some stock today and will continue to do so, in a measured way, in order to avoid jarring the stock. I like to make a distinguished exit.

Since IMMR was my largest position, I will be using said cash to fulfill my obligations in other ideas that I’ve most recently encountered.

Do not beg and make further inquiries, for you will be rebuffed like a black jew in Mecca.

Good day.

Do you want to know how I feel about selling winners, like GOGO, then seeing them proceed higher?

Well, imagine that you had a really hot girlfriend, but grew bored of making sex to her. Imagine yourself asking her to “move out and don’t look back” because you were moving on with your life, and that’s that. Now imagine said girlfriend went out, after being dissed and abandoned, and curried the favour of another gent. They’d go to dinner and have adult relations with one another, all the while you were at home, minding your p’s and q’s, partaking in an orgy.

It doesn’t matter to me. They’re just letters in the alphabet affixed to numbers. GOGO did me well, provided me with funds to progress my Orbital Space Cannon (OSC) project through October.

If you would be so bold as to “follow the money,” you will see that I moved that GOGO money into EGLE.

How’s she doing today? One might look at EGLE and surmise “gosh darn it, that Fly precipitated one hell of a short squeeze.”

EGLE will trade to $10 because it’s destined to do so. Understand that the sun and the moon move against you. You are without water in the middle of a desert and you’re riding on a gay camel.

I’m +23% from my purchase price on EGLE today, making it my second largest position next to MHO.

 UPDATE: Fly vs EGLE shorts

This isn’t a debate. Just like I told you WNR was heading higher, when it was at $15,  due to rising 321 crack spreads, I am telling you now: the dry bulkers are in the beginning stages of a huge melt up.

My pick is EGLE.

Based upon apples to apples p/s comparisons, EGLE, even after today’s move, is 50% cheaper than its peers. The reason has to do with debt and funding gaps. But that gets fixed, awfully quick, with rates soaring the way they are now. This is reminiscent of FTK, when the stock was saddled with loads of debt in the midst of a broad sector turn around. If you recall, I owned a few million shares at $1.

So here we are now, apparently with a resurgence in China, and the BDI is soaring again. If day rates continue to trend higher, expect the share prices of EGLE, DRYS, SBLK, DSX, SB, and others, to go through the roof.

My near term target for EGLE is $10.

Aside from EGLE, I added to my MHO position and started a new one in FSLR. At the present, I am 80% long.

With the BDI soaring on a daily basis, coupled with my reflation thesis, I went long EGLE and will continue to buy, especially on dips.

I am expecting a most absurd rally. Unfortunately, I am not focused on stocks this morning, due to the ongoing operations at Casa del Fly, this time of the flooring variety. Mrs. Fly has decided to ditch the remainder of the rugs in favor for wood, which is fine with me. The only problem that I have now is the 5 Mexicans upstairs banging on my floors with their little rubber hammers.

Regardless of whether we shoot higher today, tomorrow or next week, rest assured, we will shoot higher, led by housing related stocks.

Do your homework and buy the dips.

NOTE: Yes I see GOGO this morning.

The market is going to continue hit new highs and I will be buying them.

I realize the debt ceiling topic will be something to “worry” about. But the truth is, congress literally as to rectify this situation, one way or another. It’s not like they can just shut down the government and go home. At the end of the day, something will be hashed out and any dips produced from CNBC fear mongering will be bought.

Think about what suffered, over the past 2 months, thanks to CNBC fear mongering over “tapering.”

All things related to rates, precious metals, bonds and construction plays. I am going to buy them all. As a matter of fact, I believe many housing stocks are 30% undervalued, based upon inane assumptions of rates skyrocketing to the moon.

This is the new normal.

POMO (permanent open market operations) all day, every day, suppressing rates–inflating asset prices. The ultimate result is a semblance, or perceived notion, of inflation. Taking a granular look at the market, you will want to be long names like MHO, HOV, USG, FBHS, MAS, RLGY, O, MTG, PGEM and even the god damned precious metals. They should be back in play, as “reflation” of bonds buttresses the idea that inflation is a distinct possibility, since the Federal Reserve proved, yet again, it’s damn serious about the idea.

What do buy?

I am going to switch my focus away from tech, for the time being, and into this thesis. MHO will be my largest position and I will buy this thesis, continuously, as long as TLT trades higher.

10th symphony! friendo

I am very constructive about today’s move. I feel, barring some government foul up with the budget talks, this market is destined for higher prices. I know you’re scoffing at my bandwagon jargon. But that’s just the way it is, pal, not the way you want it to be.

I’ll be allocating money, up at these levels, over the next few days.

If you haven’t checked him out by now, today’s the perfect day to give The Option Addict a shot, with his After Hours webinars–starting at 4:30 NYC time (the only times that counts).  That’s not to take anything away from the boys inside of 12631, also on fire.

The train is gone. Only congress can stop it now, by throwing citizens in front of it.

Here was today’s biggest movers, by sectors:

I bought a gargantuan position in MHO. The homies are all going to new highs, within weeks.

They just don’t care about the consequences.

An old phrase comes to mind: if it isn’t broken, don’t fix it.

My problem is the lack of long exposure into this surprise. With just 60% of my assets invested, I have work to do. Right away, I am looking at what got hit the hardest due to CNBC fueled “taper talk.”

Homies, Reits and other rate sensitive plays come to mind.