As you read this scroll, I am short TROW, LM, EXH and NTRS. Additionally, I am short oil via ERY, but in a very small way. On the long side, I am long WNR and GSVC. My cash position is 70%, with a 20% weighting short. For the reading impaired, do not view today’s short sales as something revolutionary or Fly going full retard to the downside. It’s merely a sport for me at this point, nothing of great consequence.
Nevertheless, EXH will not be able to meet its debt covenants in 2013. So this might be something to sell, all-the-way-to-$00.00.
Basically, “The Fly” is relaxing, waiting for Clubber Lang to knock out Rocky. There is nothing redeeming about the global economy now. Mind you, there will be Euro-Tarp and stocks might light on fire, if only for a brief moment. But after the adrenaline rush expires, everyone will be put to sleep, as apathy grips America- 0bama in 0hio style.
Full disclosure, I might add to longs if the market looks ready to shoot higher. But I doubt we go much higher from here. Despite being up 150, the internals are for shit.
[youtube:http://www.youtube.com/watch?v=uKv4pTsMXOQ 603 500] Comments »