Fly Buy: GLW

This is it for me, final buy of 10,000 Corning Incorporated [[GLW]] @ $14.05.

Disclaimer: If you buy GLW because of this post, your wife will find out you were cheating and cut your balls off. And, you may lose money.

NOTE: For PPT subs, Extreme Oversold Conditions

California is a disgusting state, filled with degenerate sickos, who drive around in small electric cars. The state is full of waste, both monetary and organic. As you well know, California is the epicenter and the epitome of what is wrong with America today.

So, without further haste, I will list a few names, always worth betting against or shorting, for your pleasure.

Sorted by lowest hybrid score and state (min. price $10), via The PPT:

PacWest Bancorp [[PACW]] , Verisign, Inc. [[VRSN]] , BioMarin Pharmaceutical Inc. [[BMRN]] , Redwood Trust, Inc. [[RWT]] , Calpine Corporation [[CPN]] , 3PAR Inc. [[PAR]] , AMB Property Corporation [[AMB]] , The Ryland Group, Inc. [[RYL]] and ArcSight Inc. [[ARST]] .

Naturally, now that I am highlighting some horrid California stocks, the market will soon explode, like a volcano, to the upside. Nonetheless, it’s a good list to keep handy, just in case you get lost in the market jungle, without a compass or piker pass to The PPT.

I just printed out a few charts, took out my favorite ruler; and now I am ready to chart the shit out of this market. Whenever I see the market move, I will mark it down on my charts, sort of like keeping score at a baseball game. This way, I can’t lose.

The market, in hilarious fashion, is spinning out of control, lower. There is no point in debating the awesomeness of banks any longer, when you have [[SRS]] going ape shit to the upside, reaching for the high hanging bananas.

It’s treasury time people! The government, with the courteous help of Goldman Sachs, is funneling you back into treasuries, whether you like it or not. [[TLT]] is back on its gay way higher, as all of the big balled money managers abide by the edict and flee equities, for fear of the “summer doldrums.” It’s a flight to quality, distinguished people of the interwebs; and you are cordially invited. You should all feel special.

As an aside, it appears the commercial real estate industry is going out of business again, despite being able to raise a gagillion dollars in secondary offerings. Apparently, there is no sum of money too large that can save them. It is their destiny to head back down to $00.00, so be it. As for the banks, it’s only a matter of time before the FAZ people start holding graveyard parties again. I can’t wait to attend.

Last year, I remember quite vividly, Devil Dog crashed his Dodge Viper into a mausoleum, drunk off the rum soaked donuts The Great Roubini made. It was quite a riot, burlap suits, “Death to CNBC” chants, the works!

In closing, I wish you luck in your stock market market adventures; you’re certainly gonna need it. As for me, after I get done with these kick-ass charts, I will continue throwing expensive china out of my window, at the people down below. And, in between breaks, I will buy and sell stocks.

That’s all.

You little trollops think you are bearish? I can be the biggest bearish prick the world has ever seen.

I will dress up in suits made from 100% burlap, go on CNBC, and tell Bob Pisani “you’re gonna be out of a job soon, pal,” since the market will be closing the fuck down soon, until the revolution ends. That’s right, fuck your necklines and moving averages. I am talking full blown cataclysm. The type of market that makes you cry in the shower, like a little bitch.

As for you low-end stock brokers/money managers:

You will be sweeping the leaves out of my driveway, come October. I will hire many of you to carve happy faces in giant pumpkins, while letting the kids throw eggs at you from the rooftops.

Understand something, “The Fly” does not lose, even when he is, well, losing. It’s all just a temporary way station, until the destination of complete and supreme victory is reached. I can dig myself into the deepest murderhole and claw my way back, with nothing more than a toothpick. I am what you endeavor to become, with regards to money management acumen and litterbug proclivities (think neighbors lawn).

As for you third tier bloggers, busy like little bees, drumming up soap operas, keep up the good work; it serves as great material for my asinine twitter account.

[youtube:http://www.youtube.com/watch?v=cECTX3mPu1o&feature=PlayList&p=CDA3D3DC89552147&index=13&playnext=10&playnext_from=PL 616 500]

I was over here, clapping like a fucking seal, due to some of my stocks bucking the trend, going up while the market knifed lower. That was 2pm. At the bell, I am taking sticks out of my eyes, as these motherfucking bastard stocks nail me to my beliefs, sacking my coin as if I were some rich old lady in a dark alley.

Cocksuckers, we’re on the other side of the mountain now and I fucking saw it coming, like a little league curveball that just doesn’t break. I could have easily invested my 15% cash position into 3x levered etf’s, giving me a cool 45% hedge. Instead, I sort of just punched the walls and slapped the cats (just kidding, I only throw cats out of windows).

I don’t want to talk about stocks anymore, since I have, clearly, missed out on this inflection point. I am pissed the fuck off and will convert this website into a “rent-a-clown” destination, where readers can rent out a clown for their kids parties or weddings.

Despite not knowing any tricks, I’ll come to your wedding, dressed as “BOZO the BALL BREAKER,” where I will magically punch the groom in his balls and slap the old people around with shrimp cocktails.

As you can see by my tone, I am in a pleasant mood today. I just love having to dig myself out of graves; it makes for great sport.

I know everyone hates the banks, due to their criminal ways, especially when they destroy trillion dollar economies via bad investments. However, I think it’s fair to say “banks are cool too.” For the love of dead cows, we get to stuff all of our money into their vaults, saving us from neighborly burglaries and sudden knife point demands. In exchange for our paper, we get kick-ass cards, with all sorts of numbers and shit on them, which allows us to tap our savings, at anytime—anywhere.

With the markets weak today, banks are bucking the trend higher, putting the FAZtards in a very arduous situation. Stocks like JPMorgan Chase & Co. [[JPM]] , KeyCorp [[KEY]] , Comerica Incorporated [[CMA]] , Wells Fargo & Company [[WFC]] and Bank of America Corporation [[BAC]] are shooting higher, thanks in large part to green shoots and black flags. Truth be told, no one is a bigger fan of the banks, despite having zero dollars invested in them, than “The Fly.” For Christ’s sake, I have my entire life savings in those fucking vaults, minus a little emergency Armageddon pocket change lying around the house.

The current sell off is taking place in former leadership sectors: commodities, tech and commercial real estate. For some oddball reason, the banks were able to pull a Houdini on the Faztarded bears. Either this is an anomaly or some sort of bat-signal that will trigger a fresh round of buying, by dark/secretive government agencies, who want nothing more than to see [[FAS]] go higher.

As for me, I am very tempted to take all of my cash and go shopping in a variety of inverse etf’s and individual short sales. I am eyeballing [[MWN]] , [[SCO]] , [[SMN]] and [[FXP]] , but have yet to take any action. Sometimes inaction is the best course of action to take.

Investors are throwing in the proverbial towels, ahead of the beginning of Q2 earnings. The mood is somber and the traders are glum. All of a sudden, oil deserves to go much, much lower, because it was a scam in the first place. They say “prices were manipulated higher,” yet offer no evidence to back up such assertions.

In short, stocks are selling off because people think the recovery is bullshit. My sense: Who the fuck knows if the economy is snapping back or just plain snapping? My long bias is based upon the idea that, despite the tumultuous economy, the S&P is still cheap and things are not nearly as bad as some people are forecasting, such as S&P 150 or Dow 34.

However, none of my beliefs will save me from losing money, should the tidal wave of pessimism reemerge. With that in mind, I will raise more cash today, in order to slow things down a bit.

As for hedges:

The traditional inverse etf’s suck balls. [[FAZ]] is a waste of good alphabet letters. Forget about the levered etf’s and go with individual short sales.

As for me, I will give the market some more time to catch its balls, holding onto good names like OmniVision Technologies, Inc. [[OVTI]] , Corning Incorporated [[GLW]] and TEKELEC [[TKLC]], before I start hedging. However, just know, the only reason why I am so patient is due to my big cushion of gains. If I wasn’t up so much, I’d probably be shitting the shower now, wondering when the “homo-hammer of certain death” was going to rain down on my skull.

Fuck off and find the news story yourself. What do I look like, some sort of news fetcher?

I am making a point here, people from the internets.

If Bill Miller, retarded money manager from Legg Mason, can bounce back to the tune of 48% in Q2, so can anyone, even armless chimps. I know many of you are down and feel like shooting yourselves in the face with an old howitzers. However, you must keep faith and remember, if Bill Miller and his palsy brain (famous for doubling down in Freddie Mac common just prior to its demise) can boss up to the tune of 48%, penguins can pick up guns and shoot walking pigs and you too can regain all of your lost coin or get your share of the BILLIONS being made on the internet, either or.

You’re welcome for the late night pick-me-up.

Signing off–

Inspirational Fly

[youtube:http://www.youtube.com/watch?v=QQtLoJlQD6E&feature=PlayList&p=CDA3D3DC89552147&index=0&playnext=1 616 500]