Fly Buys: PCZ, FTK

I bought 1,000 PCZ @ $57.85 and 5,000 FTK @ $16.79.

Disclaimer: If you buy the above stocks because of this post, rabid squirrels will bite your nose off. And, you may lose money.

I sold 5,000 BIOF @ $4.15.

The primary alternative energy stocks, namely solar, are being “deballed” today, with comparable fury of 20,000 IT geeks, mad at Yahoo hosting.

In its place, bullshit alternative energy stocks are running. They are stocks of the lowest order. Loosers [sic], if I may be so bold.

This, as you know, is another “tell” that this market is fucked, like a gay pig or dog in Texas.

The list includes:

QTWW, SCON, BCON, CBAK, DESC, SYNM, EEE and RTK.

Bottom line: We are close to the end of civilization, as we know it.

On that future news, “The Fly” is peppering his trader/servant with ice cubes, as punishment for accepting large FTK buy orders. Taking a step back, the stock is a good value down here. I’d rather be buried alive, than book a loss on it today.

I covered my MER short, buying 14,000 @ $43.25. I covered some of my LEH short, buying 5,000 @ $36.

I sold 50,000 FNSR @ $1.81.

Look very closely at the shares of CHL and LFC, for they are about to die a terrible death. Seriously, CHL is fucked, due to new government regulations forcing them into the slow growing land line business.

With regards to LFC, it is a ticking hydrogen bomb. They have way too much exposure to the Chinese stock market, which has been blown out—over the last quarter. With that being said, FXP is poised to run. Run like the Hamburglar escaping the grips of McDonald’s security apparatus.

Aside from sinking countries, “The Fly” is enjoying large percentage gains in QTWW and LEI. Quite honestly, I have zero edge on these stocks. They’re just running.

The funny shit is, my “edge” on FTK was an ax to my head, while my lack of insight into both QTWW and LEI led to bountiful gains. Sometimes the market makes no sense. If it did, all of you E-Trade morons, executing trades in Hong Kong, would be rich. But you’re not. You’re just reading the coherent rantings of a maniacal genius.

After looking at UBS and the general tone of things, I’ve decided to hold back on any buying, with the exception of obligatory averaging down in FTK. Instead, I will look to borrow more shares of FED and sell more POT.

Finally, on this dip, PCZ is good for a bounce.

NOTE: With ag getting killed, ethanol stocks may bounce too, providing corn trades lower.

I bought 10,000 FTK @ $16.25.

Disclaimer: If you buy FTK because of this post, you will never learn lessons. And, you may lose money.

I was going to rant about my Memorial Day experiences with asshole picture taking tourists. However, as you already know, I am the recipient of a “homo-hammer of death” this morning, thanks to the inadequacy of FTK.

Nothing in the world beats coming to work, hung over, seeing a top 10 position blown the fuck up.

Needless to say, I have not made a decision, whether to cut my losses, or average down. My knee-jerk reaction would be to sell it and get done with it. However, it is probably good for a moderate bounce here.

Early this morning, I covered my LEH short, on the BAC downgrade. Killing LEH is too mainstream now. I’ll revisit the name at higher prices.

Also, due to the bastards at FTK, I took profits in a variety of stocks/etf’s, such as SKF, NOV, short MER, short DSL, short FHN and short WM. I will keep my FED short, due to its egregiously high valuation.

With oil coming down, I suspect the bulls will attempt to hold these levels and kill a few bears.

For now, I will reduce my short exposure, raise cash, and figure out where to go long.

Developing…

NOTE: One of my lotto tickets (LEI) hit pay dirt.

Ongoing…

1. FXP

2. SRS

3. SKF

4. AAPL

5. FTK

6. Short MER

7. Short LEH

8. Short FED

9. GD

10. RIG

Notable mentions: VSE, PCZ, REW, NOV, Short POT, Short DSL, Short FHN, BAP, AIZ and GILD.