Frankie Ruiz (Live!)

[youtube:http://www.youtube.com/watch?v=PK9-WiY0eZQ&feature=related 450 300]

As per requested by Crude Broker.

I am buying gigantic quantities of [[RIG]] here, despite what you assholes think. To couple that, I went LONG [[UYG]] at around $17.45. I know the banks blow; but I have a hunch.

Also, I sold out of all of my [[DUG]].

I will keep all of my [[FXP]], [[REW]] and [[SMN]]—just in case.

My sense, the market is too shorted. I couldn’t borrow stock today, in like 15 names. Every one is setting up for a washout.

Look, the long term is still grim. However, with all of these rookies out there shooting at banks, and the Gov’t handing out cheese to [[FNM]], beware of a squeeze.

I’ll keep my [[HRB]], [[PACW]] and [[HDB]] shorts, based upon egregious valuations. But, in general, I am done shorting stocks—until my mood changes, of course.

Have a terrible weekend, fuckers.

UPDATE: Note the Godliness of my [[PZN]] calls. I insist.

I sold short 1,300 [[HDB]] @ $70.40.

Disclaimer: If you sell short HDB because of this post, Cramer will convince you to buy FNM. And, you may lose money.

I have visions of great personal anger in my head. I can fathom some sort of Government bailout, followed up by HARDCORE CNBC cheer leading—resulting in a massive melt up on Monday. They might even pull that old fucker, Vince Farell, out of the woodwork to call another bottom.

I covered my shorts, excluding my 200% inverse ETF’s, because I had the wrong stocks. Typically, I am pretty good at identifying my “wrongness.” Right now, I am sitting on mountains of cash, borrowed stock, but zero trades.

I’m thinking: “why should I short more here and risk my balls, on a Monday fuck you”?

But then, I think: “asshole, you sound like some pussy. Do it. Don’t think too hard, your balls will fall off. Do it.”

These are the thoughts that are racing in my head, at 2:26pm, July 11th, 2008.

NOTE: Irish bank, [[AIB]], looks like a fucking empty treasure box.

Don’t worry. I had the wrong stocks. I am now in the process of redeploying capital, with great vigor, to names that are sure to win.

Developing…

NOTE: I am still short [[HRB]] and [[PACW]].

I covered my shorts in the above names.

Off to more important things now.

I have been busy, over the past 72 hours, looking for new banks to sell short. [[WABC]] was on the top of my list; but that fucker is already swan diving. However, it’s worth noting, it is still richly valued.

Some other names that pop out are: [[HDB]], [[PCBC]], [[BXS]], [[HBHC]], [[ONB]], [[CVBF]], [[FTBK]], [[TCB]], [[AF]] and [[VLY]].

Regarding “The Five Reverse Horsemen” of agony and profits, I am retiring four of them. I am claiming victory, if I may be so bold.

The lone horseman is [[PACW]]. However, over the next week or so, I will add another 4 names—giving me a full cast of “horsemen.” Just like Saturday Night Live changes their cast of idiotic comedians, “The Fly” does too.

Look you, I don’t have time to teach you everything. I will give you some fucking shortcuts.

Don’t bottom fish dead institutions, like [[FRE]], [[FNM]] and [[LEH]].

Just-don’t-do-it.

“The Fly” knows all, while you’re just some asshole who reads the poetic scribblings of an internet genius,

[youtube:http://www.youtube.com/watch?v=JlAUdPTr6ZI 450 300]

I sold 10,000 @ $30.35.

[[FNM]] and [[FRE]] need to raise Dr. Evil type money. There’s no fucking way they can do it. Therefore, the American taxpayer will foot the bill. No fucking problem. Who cares about moral hazard? We are the United States of Bailouts.

On top of that, [[LEH]] is ready to fold up tent. [[PZN]], [[FED]], [[SOV]], [[SFI]] and [[RF]] too.

I swear to you, we live in interesting times. Everything I see is horrid. I try to think of a way where we can get out of this mess intact; but then I get distracted by the ice cream truck outside.

However, “The Fly” is not on fire, at the moment. As a matter of fact, those fucking engineers from [[JEC]] are giving me the business, thanks to a dastardly Goldman upgrade this morning. I can’t believe it. That other stock, [[MXB]], never goes down—despite its ridiculous valuation.

In short, I have a problem. I need to take control of these losses and execute a few good trades.

In general, the market is trying to bottom, like it did with the BSC collapse. However, it cannot.

Oil is pile driving guys like “Donny,” and major financial institutions are on the precipice of failure. Do not try to catch a bottom. Trying to catch a bottom in this market is equal to stepping up to Mike Tyson and punching him in the face. Not a good idea.

Top pick: [[FXP]]

UPDATE: My short exposure includes: long FXP, long [[REW]], long [[TWM]], long [[SMN]], long [[DUG]], short [[PACW]], short [[CAT]], short [[TEX]], short [[VMC]], short [[JEC]], short [[MXB]], short [[HRB]] and short [[CATY]].

Some of my longs include: [[AIZ]], [[RIG]], [[ARD]], [[PCZ]], [[CLNE]], [[DGP]], [[FTK]], and [[BAP]]