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Dr. Fly

18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.

Fly Sells: LEH, RKH and UYG

Okay, now pay attention this time.

I am selling half of my [[RKH]] and [[UYG]] positions here, at $102.88 and $21.10. And, I am selling out my entire Lehman Brothers Holdings Inc. [[LEH]] position.

It was fun while it lasted.

I will sell the entirety of my RKH-UYG positions by the end of the day.

With the proceeds, I will likely hold cash or start nibbling at [[SKF]] or short Legg Mason, Inc. [[LM]].

Check that Update: I am buying Western Refining, Inc. [[WNR]] , [[DIG]] in size.

UPDATE: I am 100% out of my bank longs, selling RKH @ $103.05 and UYG @ $21.22. However, I will hold my Wachovia Corporation [[WB]] forever.

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Luck is Just as Good as Skill

I am living on borrowed time, being long the banks and Lehman Brothers Holdings Inc. [[LEH]] . The circumstances were perfect for manipulation.

It all happened about 1 week ago….

I was becoming increasingly agitated by the lack of death and mayhem, within the banks and general indices. Then it dawned on me, like it must have dawned on Thomas Edison or that dumb Ford guy: do the opposite.

I’m sure Edison thought about making retarded candle lamps; but, instead, he decided to harness the power of Zeus to light brokerage firms across the nation.

Same with Ford. I bet he had plans to launch a new horse wagon or something; but, he eventually opted for a maniacal machine, operated by Saudi crude.

Evidentially, Ford was “addicted” to crude. Some might say he is the “Godfather of global warming,” “Mr. Diesel” himself. I just think he is the founder of a retarded car company.

Anyway, so it dawned on me, like it made sense for Genghis Khan to invade his neighbors on horseback, to get long the banks.

At first, I did it with the utmost amount of gingerly buys. Then, I got loud and boisterous. Finally, I ripped off my hedges, as if I was the Incredible Hulk, readying to punch a hole through a passing Ford SUV.

At the end of the day, I got lucky. God willing, I’ll get lucky again, just like Edison.

For now, I am addicted to oil, via [[DIG]] , [[IEO]] , Ultra Petroleum Corp. [[UPL]] and Arena Resources, Inc. [[ARD]] . Hurricane Gustav is a coming and he’s going to knock your power lines offline, effectively sending you back to the candle age.

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Victory, part I

I’ll get to you oil haters in a second.

As you know by now, “The Fly” is pimping this market with a very heavy hand, being long the banks. As unbelievable as it may seem, I knew this was coming, sort of like how animals know bad weather is coming (call me an ape and I’ll have your chest hairs punched off).

I sold out out of 95% of my inverse etfs’s yesterday, leaving me net long banks—in a very egregious way.

Part 2 of my victory will be in the energy pit—watch me.

Now I know many of you noodle twisters are big time oil bears. You make lots of offhanded, corny remarks, about how oil is “so doomed dude. Like totally, it’s going down.”

Let me remind you, criminals run the oil markets. They do not bow down to your asinine economics 101 rules. That’s like telling the Italian mafia to lower the interest rates on your loan, since Ben Bernanke lowered the Fed funds rate.

Sometimes I think many of you are delirious, from all of the misinformation you are fed, on a daily basis.

Calm down, put your charting rulers down and think.

Can we have it both ways—growth and lower oil?

Answer: No

Naturally, due to the nature of “betting on a storm,” oil will trade lower—should it (the storm) weaken or veer off course. But, the longer term picture has not changed. So, I will buy dips in crude and pray to Poseidon for furious winds to knock over those idiotic rigs, littering the Gulf of Mexico.

Aside from all that, I like Equinix, Inc. [[EQIX]] and short Legg Mason, Inc. [[LM]] .

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Late Night Thought

This weekend, I’ll be chewing on 2 1/2 inch rib eyes, while you’re over salting flimsy skirt steaks.

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Pay Attention to the Stock God

Many of you wouldn’t know greatness if his cleats were stuck in your chest. “The Fly” is in the process of making his second greatest call of 2008 and most of you are doubting him.

Not only are you doubting him, you are not paying attention.

Often times, “The Fly” could care less if you read his blog or take advantage of his superior instincts and intelligence quotient. However, this time, you need to watch.

Speaking to my “smart friends,” I can tell you they are BIG TIME oil bears. In addition, one of them is heavily long Fannie Mae [[FNM]] , “based upon the technicals.” Without besmirching him too greatly, I say he is 100% wrong on both fronts.

Under no circumstance, aside from a criminal act, should the government enter Fannie at the equity level. Therefore, it is likely the stock will go to zero.

As for oil:

The trade is crowded to the downside. Everyone is betting against it, due to “dollar strength” and other gay stuff, like: “hey it didn’t go up on that Russian thing ova there.”

Look you, I have zero patience to explain how I operate and when I will catch fire.

Just know, “The Fly” is on fire, in a very egregious way, with year to date gains topping 45%—at the present.

Top picks: [[DIG]] , [[RKH]] , [[UYG]] , Southern Copper Corporation (USA) [[PCU]]

‘Cane Update: Via Dr. Masters.

However, most of the cone of uncertainty lies in the major oil and gas producing areas, and I give a 60% chance that Gustav will significantly hurt oil and gas production in the Gulf.

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The Proper Way to Wishcast

Do not sit in front of your television, with 3-D glasses on, chomping on caramel popcorn, rooting for Gustav while watching the weather channel, saying: “go Gustav go. Get them all. Do it. Do it.”

No.

Instead, act like a gentleman and quietly turn on the weather channel. Upon seeing Gustav heading towards oil rigs, quickly turn the channel—then smirk (privately), as if you knew something that Woodshedder was ignorant of.

This way, you will comport yourself with dignity, while assuring to swell the ranks of your brokerage account balances.

Now, understand, prior to landfall, there will be many false alarms and misinformation being spread by those who are gay. Do not listen to them, for they are trying to take your coin. Have faith in the fact that Hurricane Gustav is heading for the gulf and is attracted to those rigs like a magnet to metal.

With my money, I am heavily long of [[DIG]] , [[IEO]] , National-Oilwell Varco, Inc. [[NOV]] and Arena Resources, Inc. [[ARD]] .

Some of my smaller bets include: Ultra Petroleum Corp. [[UPL]] , Global Industries, Ltd. [[GLBL]] , Clean Energy Fuels Corp. [[CLNE]] and GulfMark Offshore, Inc. [[GLF]] .

The watch list, which can be bought, includes:

Valero Energy Corporation [[VLO]] , Tesoro Corporation [[TSO]] , NGAS Resources, Inc. [[NGAS]] , GeoGlobal Resources Inc. [[GGR]] , Transocean Inc. [[RIG]] and Western Refining, Inc. [[WNR]] .

However, remember these stocks are trades and should be treated as such, despite how much “The Fly” makes fun of you for selling before he does. Use your own judgment.

Aside from oil, I love the action in Equinix, Inc. [[EQIX]] and Southern Copper Corporation (USA) [[PCU]] .

I own them and would buy both with impunity, based upon “welfare cheap” valuations.

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The Hedges Are Coming Off

I am going net long the banks. That’s right.

If only for a few days, “The Fly” wants to be a patriotic bank lover again—via siding with the Government—waiting for bailouts and such.

I know it seems asinine, because it is!

Just know, anyone who has an iota of importance on Wall Street (as you can see I am still here) is on vacation right now. Therefore, it’s the perfect time to manipulate stocks, on low volume, through egregious government intervention.

So, as of now, I am net long the banks, via [[RKH]] and [[UYG]] . Let’s see how long that lasts.

Also, I see some of you are non-believers in Hurricane Gustav, due to some recent tracking report.

Hogwash.

While it’s true, the “Deacon of Death” trade is crowded; it’s far from dead. The storm is 5 days away. There is plenty of time for people to get all panicky, covering their oil shorts, in anticipation of oil rigs getting knocked offline in the Gulf.

At the present, my favorite picks are Lehman Brothers Holdings Inc. [[LEH]] , [[UYG]] , [[DIG]] and [[IEO]] .

UPDATE: Accuweather’s recent model

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You’re All Cowards

I do not need to boast or brag about my win over Woodshedder, for it is not befitting of a gentleman.

That would be equal to taking playdoh from a baby or even worse: his starters guide to technical analysis.

With Gustav barreling down on worthless swaths of land, “The Fly” intends to bank a little coin in a variety of energy stocks. He does not need your approval or encouragement.

“The Fly” possesses the courage equal to 100 lions inside a laser tag gym filled with trapped zebras. I will bank my coin, then spend it on something stupid.

Thank you very much.

This morning, my “calculator brain” and I are enjoying large gains in Arena Resources, Inc. [[ARD]] , [[DIG]] , [[IEO]] , Global Industries, Ltd. [[GLBL]] , Ultra Petroleum Corp. [[UPL]] and Clean Energy Fuels Corp. [[CLNE]] .

Oh, I’m also up on some other stocks too, like Barnes & Noble, Inc. [[BKS]] , Southern Copper Corporation (USA) [[PCU]] and Yamana Gold Inc. (USA) [[AUY]] .

I’ll leave you all with this video, which will explain my position, rather vividly.

[youtube:http://ru.youtube.com/watch?v=xj9_I2Yr3L8 450 300]

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