Decent Action

We have every reason to sell off, yet here we are hugging flatline. Because of this, I like the market early on.

My favorites today are silver stocks, with the shiny metal lagging behind in the risk trade. My largest and only silver position is EXK. After all of my sales, EXK is now my 3rd largest equity position.

Additionally, I like VMW as it rolls past $100. It’s sort of a mindless strategy, but one that works continuously: buying stocks as they pierce the $100 threshold. They tend to explode shortly thereafter. Naturally, WNR and CLF are still my top positions. As you can see, they are having a good day.

Bottom line: you can play the short squeezes here, because the pain on the short side is great. They have to cover due to margin liquidations. The longer you press the hot iron on their face, the greater the pain. However, I suggest doing so with a low risk profile, keeping at least 20% of assets in cash. We are due for a retracement, at the very minimum. The last thing you want to do is give back hard fought gains to unchecked greed.

At first glance, DC looks like another shithole, filled with homeless men begging for money. At closer inspection, it is a splendid city with large, spacious avenues, luxurious stores and fine architecture. This all ties in with the impeccable cleanliness that seems to be the culture in DC. I wouldn’t ever live here. However, I’d stop here for a sandwich or two, on my way to finer confines.

The fourth of July festivities were pretty cool, minus the million people that attended, stinking up the place with ape-like body odor. All in all, it was worthwhile, especially the fireworks display—which was fantastic.

Tomorrow, I venture off to see more of this stupid place. As you must understand, my blogging activities will be light; however, I will be with you in spirit. I have no idea when I will head back to NYC, as I am in no rush to go home. I might venture further south to throw eggs at Woodshedder’s house, then plant a Saudi Arabian flag on his mailbox. Or, I might head back towards PA, where I can do all sorts of idiotic things, spend money, and generally waste my time. Ultimately, the market will have to wait for me—not the other way around.

Going into tomorrow, I am 60% cash and mostly cash in my personal/aggressive account. I am long TZA, ETFC, WNR, CLF and VMW, some stock, other calls. And I will buy this market, with great energy, when it dips.

There is nothing, and I mean nothing, redeeming about the dreadful city of Philadelphia. This place is an abomination and should never be compared to NYC, in any way, shape or form. If I was General of NYC, I’d invade this jackass of a city and burn it down to the ground. Actually, a burned down Philly would serve as an upgrade to this shitpile of 18th century shanty-houses.

If any of you midwest cock-blowers want to see a real city, come to NYC or Boston. All other cities in the North East are playgrounds for the zoo animals.

Although the fourth of July doesn’t mean as much to me as it used to, I still like to celebrate the finer things this country has to offer. When you get older, you tend to look at things with a more cynical viewpoint, due to the experience of being burned in the past. Our elected officials have all but destroyed the morale of Americans and have accomplished the difficult task of turning a winner into a loser. We didn’t do it to ourselves. It’s the choices and polices that our government made that led us down the slippery slope we find ourselves sliding now. You shouldn’t feel ashamed about the current state of the country, since you know what needs to be done.

Americans are a great people. Inside of 200 years, we’ve managed to conquer the world and establish a vast empire, one the world has never seen before.

The two party process is a fucking fraud. They like to pit one against the other, D versus R, so that we don’t focus on how they are emptying the treasury for their personal gain. The media in this country is NO DIFFERENT than Chinese controlled state media, where the dickbags on every network suck the cock of Obama, nightly, no matter what he says or does. When Bush was President, there was plenty of criticism, but he was always protected by the other arm of state media, the one that supports the R’s. The genius of the Fox News vs MSNBC crowds is that it fans the flames  and establishes the talking points of D vs R debates. I am sure most are unaware of this clever strategy, all properly financed and supported by the established elite.

They want you to go to the polls, like  fucking sheep, and vote for one of two people to represent your country. The only problem is both candidates are exactly the same, both vacuous in soul and mind. We haven’t been blessed with a great leader in a long, long time. There are plenty of leaders out there, but none stupid enough to run for public office. The machine is well oiled on both sides and isn’t receptive to outsiders trying to muscle in.

Aside from the situation they put us in financially, they’ve ruined our food supply, fucked up the water supply, trashed health care, denigrated U.S. manufacturing capability, allowed U.S. education standards to drop to third world levels, and initiated the greatest transfer of wealth the world has ever seen, from west to east, via oil purchases. If this were another era, one where men had steel in them, pitchforks would be flying at the White House tomorrow, demanding the resignation of every single member of Congress and the executive branch.

Instead, we will all run around the BBQ tomorrow, while watching jackasses play baseball, tossing around jumping jacks– without a care in the world.

We’re dancing in a club that is on fire and we don’t even know it.

There is an old saying that comes to mind, while watching the market burn bears to a cinder: “The Fly” wins all the time, especially when he appears to be losing badly.”

You mustn’t ever worry yourself about the state of affairs of Lord Fly, for he is always several steps ahead of everyone else. Although you read this missive with extreme prejudice and contempt, due to the fact that “this Fly character cannot, must not, be real”, howsoever, I assure you, he is very real indeud.

I did something very extreme today and I am a bit shy to reveal my actions. Nonetheless, going with the “fully transparent” theme of the site, I will tell you: I pared down my WNR position by 50%. Now, now, now, don’t get your panties in a bundle; let me explain. Thanks to my incessant buys, coupled with the recent appreciation in WNR, it constituted 40% of my holdings. The last time I did something so bold was my VXX trade just prior to the flash crash. As you could readily understand, it would be negligent on my behalf to allow my clients to assume that risk for too long a duration. Nevertheless, it is still my largest position and I now have EXTREME fire power to buy shares lower, should they decline.

Additionally, I closed out most of my options in CLF, FCX, while holding firm on VMW. I purchased July 33’s for TZA for fun and go into the July 4th festivities with a 60% cash horde and 11.5% year to date gain. For all intents and purposes, I am closing out q2 at my ALL-TIME HIGH watermark (I have no idea why I am compelled to CAPITALIZE certain letters).

During next week, “The Fly” and family will be traveling, via road, to Philly, DC and a few other places. I will be celebrating the 4th in DC and shall return back to NY next weekend. I will be blogging from the road and quite frankly could not be more pleased with how the market played into my hands, just prior to my mini-vacation.

Over the course of this summer, I intend to travel to La Jolla, Seattle, Vancouver and maybe Hawaii. I’d prefer to be “equity light” and pick away at stocks, instead of going full retard, leveraged to the upside.

Took a floater. Bought some ETFC.

Disclaimer: If you buy ETFC because of this post, you will fall asleep on the beach this weekend and receive 3rd degree burns in the process. And, you may lose money.

Just in case some of you were worrying about my current eating status: yes, I am in the process of completing the largest bowl of oatmeal the world has ever seen, alongside very high dosages of vitamin C and other worldly things, like bananas and Omega 3—things of that nature.

Developing…

I sold half of CLF, all of TKLC, NXPI and CY, putting my cash position at 40%.

We are up another 100 points, making this one of the best short squeezes that I’ve ever witnessed. The banks are ripping higher and I regret not holding FAS. However, I still hold BAC and look forward to extending my greed there. With today’s economic numbers, be on guard for people declaring “an end” to the economic soft patch. Also, I’d like you to acknowledge how fucking stupid the weirdos from CNBC are and how you should never heed investment advice from them.

If the upcoming jobs reports is good, the Dow is going to 13,000 in a straight line. That’s it, nothing to see here, just something to understand.

With my money, I am trying to contain my greed while banking coin. I am about to pull the trigger on a sale, in order to raise a little cash.

The squeeze continues as the vise tightens on the heads of the dumber class.

More later.

I’ve never meant to insult anyone in particular, just everyone in general. While some of you are accustomed to middle class pikers, begging for your business on the internets, “The Fly” couldn’t give two fucks and a gay moose about that shit. When you come to iBC understand that it is not for you. That might be difficult for you to process, as it goes against the grain of logic, pertaining to business. However, if you could understand for a brief moment that iBC represents 0.002% of my annual income, you will know to shut the fuck up.

Again, no disrespect is intended to hardcore iBC’ers who have been through the ups and downs of this fucktarded market. Its been a war in the markets over the past 4 years and if you are in the black from then to now, I tip my cap to you, Sir.

As for you other little bastards complaining about the culture of iBC, LEAVE NOW, else I will have one of my agents break yours arms off and club you to death with your own elbows.