BREAKING NEWS: JOHN PAULSON IS COMPLETELY RETARDED

His gold fund is down 54% for the year.

Here are his gold holdings year to date, minus his monster GLD position.

I threw in the ANR position for good measure.

Is any high profile hedge fund manager worse than him?

These stocks will continue to go lower until he sells them, just like the banks circa 2011.

I added to my AMBA position.

I literally left the turret after posting a blog this morning in favour of a nap. I felt strongly about the need to relax and thought to myself “when I awake, things will be much better.”

LO AND BEHOLD:

MY STOCKS ARE RIPPING TITS CLEAN OFF THE HAIRY CHESTS OF BEARS.

The constant and persistent march higher in yields is taking a toll this morning. I do not believe the sell off is due to lack of stimulus out of Japan. Instead, I think this is all about the Japanese carry trade–managers worried about a possible unwind.

These are unfounded concerns and the market will understand this soon enough.

TLT is setting up for a sweet buy soon, most likely in August. Fun fact, TLT has never traded lower in August. I can envision myself (extra Mrs. Fly) positioning into TLT in mid July. As for today, you shouldn’t panic over every single drawdown. This isn’t the end of the world and you know there is a permanent bid in equities.

Granted, we don’t want to see European yields blowing out again. Both Italian and Spanish yields have been creeping up in recent weeks, most likely due to the rise in the yen.

In short, TLT needs to stabilize and the yen needs to continue to depreciate. That’s the recipe for higher prices in this market.

PAMT (no Devil)
CALL
ALXA
VPRT
BWLD ($100 rollski)
XPO
NILE

That’s all I got this evening. Now get to work.

It’s not a coincidence that with the passing of Steve Jobs, AAPL had lost its mojo. The mystique left with him and his successor is a god damned idiot.

Instead of innovating, the company has resorted to releasing inferior to market electronics and nonsensical product expansions. Today’s news that AAPL will delve into online radio and pictures is 5 years too late.

S Jobs would’ve never done such nonsense. Or if he did, he wouldn’t make a big deal out of it.

So what went wrong with AAPL? The developers are still there and the talent hasn’t diminished.

Two things:

1. They lost their #1 visionary.

2. They lost the whip.

S Jobs is famous of treating his company like one giant cotton plantation, circa 1820 (absolutely no racism. Don’t even try it). Without someone with salt and vinegar to tell those bozos what they need to be told, Apple has become one giant homosexual factory, led by Head Penis, Tim Cock.

I added to an already huge IMMR position.

Over the past two trading sessions, “The Fly” has grossly under performed the indices thanks to a series of “one off” events. My holdings in FRO, IMMR and ANFI have all taken hits, for one reason or another, which has stifled my returns, withholding fortune that is owed to me, by right. Instead of lamenting about it, searching for answers amongst the sands of Wall Street, I patiently wait for the turn.

The turn when jive turkey white men stop holding my FRO down. A day when “HAPTICS” is not only a household term, but something quoted during graduation speeches across the planet. A day when rice becomes so scarce, people will eat rubber and wood in its place.

I long for all of these things. Whether or not they will happen is another story.

In light of the NSA scandal, foreign based internet companies might draw appeal from speculators. I like BIDU, YNDX, YOKU, SOHU and maybe even REDF for a gamble.

I want the rally to begin, even though it isn’t summer yet. I want stocks that are supposed to be in receivership skyrocketing to new highs amidst elaborate expectations. I want the NSA to include killing all short sellers as part of their god given mandate to protect America.

Look people, get worked up all you want about the NSA and the Federal Reserve, pissed off at the beard of Benjamin Bernanke, but you’re never gonna change anything. You’ve lost your balls in the Vietnam war and the plutocracy will behave as they like, do as they feel, to protect their interests. A small pleb, such as yourself, might find his time better spent by scanning for new stocks to buy, taking advantage of the gravy train we know as “the stock exchange.”

As predicted, Japan went suicidal to the upside, breaking the prospective necks of anyone who bet against THE BOJ. Due to this convenient occurrence, I expect to make coin in WETF and MTU today.

My top pick, for the day, is AMBA, based upon the opinions of my urinal shadows.

As an aside, after the monsoon stops in central NJ, I am going to head on over to the local mechanic to have my brakes fixed.

Until then, I’ll be hanging out in The PPT and 12631 trading arenas.

The iBC Community think tank is hereby activated. Post a single idea in the comments section, else be castrated.

My pick for next week is:

AMBA