Moving To Cash Again — This Market Wants to Roll Over

Good morning lads.

I took in the following bounty this morning, during my opening tick fishing.

BBIO +11.1%
ANAB +3.54%
EIDX – wash
SCPL +1.6%
SGMO +3.3%
EXAS +1%

No big deal, just a little fish in the morning to sup on. I am now presently in 70% cash; but I did buy one stock this morning. Naturally the bulk of my money or 75% of it is invested in a Quant — which is 100% long, so bear in mind when I tell you that my trading account is flexible and quick or hedge or short for a reason — mostly to mitigate for the exposure in the Quant.

Early going I like nothing on the momentum side.

UPDATE: I sold SAGE for a morning day trade, +15%

I was forced to average down in a stock today, due to the severity of the decline. Usually I don’t throw good money after bad. But the nature of biotech is wild and we’re still in a strong uptrend, so dips should be bought. Selling biotech on dips is an admittance of failure.

“The Fly” does not fail.

Looking around the market, I am beguiled, and also bewildered — because I can’t find anything good to buy. There are stocks to buy, but none of them are “good” in the traditional sense. Hear me when I tell you — when I am unable to find stocks to buy, it usually means end of times is just around the bend.

There are a handful of retail stocks, lots of oils, and a plethora of degenerate biotechs. That’s it. Nothing else!

For now, I remain stoically in a 50% cash position.

Let’s be clear, oil is for losers. The idea of being long crude is contrarian. To be a contrarian, you have to think differently. You think differently because you are inherently unhappy and ergo feel the need to do something that no one else is doing. The delusion is thinking you’re a leader or ‘early’ when in fact you’re not — you’re just a rebel. Being a rebel without power makes you a loser. George Washington was a rebel, but he had power. Had his power failed him, he’s be considered a loser today — moron who fell against the British Crown. You are not George Washington.

Healthcare stocks, of which I am long, are lower today. I am still heavily in cash, heavily in biotech — not participating in today’s rally. In order to prevent being a loser tomorrow, I might have to conform to the current strokes of the market. I can let my stocks go another day to see if biotech bounces tomorrow, but nothing more than a single day.

Exodus had oil stocks are extreme oversold levels as of late last week.

Today’s bounce is nothing more than mean reversion.

Markets have all but collapsed and I’ve been out this day on leisure. But now I’m back in the lab and applying cash to work. I am heavily long biotech — since aside from gold and REITs, it’s the only sector of the market working. But more than that, it is surging. These fucking stocks, for the love of God, look like firecrackers.

I’d tell you what I bought — but that privilege is for members of Exodus only. So sorry.

55% cash, in the fucking lab cooking up profits. Trust me, I am a Dr.

Markets are down 400. Clowns are getting their noses punched off clean. The Fly is 80% cash, 100% win. My stocks are up lads. I fear nothing.

Is this a good time to buy stocks?

No.

The 10yr is down an astounding 13bps to 1.70%. The Xmas rout is upon you. Santa has been detained and Krampus is coming for you and your children. Brace yourselves.

Trump is doing the fucking rounds this morning. Let me recap for those of you bewildered by the about face in futures, presently down 37 NASDAQs.

Fuck France.

In comments to the press ahead of a NATO meeting in London on Tuesday, Trump said Macron’s words had been “very, very nasty” to the other 28 member states. He added that it was “very insulting” for the French president to label NATO as brain dead. “You can’t go around saying that about NATO,” Trump added.

The U.S. president said relations between the U.S. and European NATO members were not causing any divide, with the exception of France.

“I do see France breaking off. I’m looking at him and I’m saying he (Macron) needs protection more than anybody and I see him breaking off, so I’m a little surprised at that,” said the American leader.

And tax the shit out of them.

On Monday, the White House had said it may impose duties of up to 100% on $2.4 billion in imports of French Champagne, cheese and other luxury goods.

Phase 1 of the China trade deal agreement never happened and might now have to wait until 2020 before getting inked. What did I say?

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” Trump told reporters earlier on Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no … In some ways, I think it is better to wait until after the election if you want to know the truth.”

BONUS: Fuck S. America too.

Trump announced Monday the U.S. will restore steel and aluminum tariffs on imports from Brazil and Argentina. He also suggested the move was necessary because Brazil and Argentina had been “presiding over a massive devaluation of their currencies.” However, in recent months, both countries have been seeking to strengthen their respective currencies against the dollar.

To think we’re at record highs amidst all of this craziness makes me think craziness is all that was required for record highs.

Big fucking happenings after the market closed you faggots. BOLD got ripped out for a 102% premium. First thing tomorrow, from my vantage point, lemmings will spill in sloppily into the sector trying to gamble their way towards greatness. Obviously, it is the duty and the responsibility of every trader to partake, which is why I am here now — WASTING MY FUCKING TIME, speaking to the likes of you.

Doing some ancillary searches, I have several gene editing stocks on my fucking radar. Here goes. Feel free to get off your asses and partake in this orgy of lists. I’m gonna add CRSPR stocks in there — just because I can.

EDIT, NVTA, BLUE, CRSP, ABEO, ADVM, AGTC, ANCN, AVRO, AXGT, BMRN, FCSC, FIXX, GNPX, KRYS, MGTX, ONCE, ORTX, PRVL, QURE, VYGR, XENE, MBIO.

Obviously you’re gonna want to further screen this to exclude piece of shit low volume boiler room stocks, pitched heavily by stock broker faggots. Buy what’s moving, not what you think might move. Trust me, I am a Dr.

People with money understand this is when you step aside and count your blessings. You survived an entire year of fucking Trump trade war lunacy and came out ok. As a matter of fact, your gains are extraordinary. This is where you sell and relax for the balance of the year, comfortable in your pastoral settings, amidst the country and the birds and the fucking trees.

On the other hand, in the housing tenement inside of the squalor of a city, is a fool margined out x 1 billion at Robinhood, trading like a jackass in the hopes of escaping bullet rounds each and every night. You hide behind 40 ounces of malted liquor and trade in the most indecorous stocks around.

At the moment, those stocks are all in biotech. Do not ask why. It is what it is (extra Irishman).

So I bought 3 of them, reducing my cash to 80%. No big deal. On one hand I feel the wheels can roll off this wagon, tipping it off the cliff and into the crevasse. On the others, there is a chance the new money third estate musters enough verve to get this fucker jumping again. Plus there’s always Trump and his shit. No one knows!

I hope I’m wrong and markets rally tomorrow. In the event I am now, however, I am prepared to buy the fucking dips.

End of year business. Men do not want to risk it all — just for another percent or two. Make no mistake, this sell off is stupid. The rationale, based on manufacturing data, is laughable.

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.

But there is much to lose for managers who rely upon the calendar year to get paid — so they will most assuredly be selling into any fear. Taking a quick gander at the market, there is an overabundance of it now. Consider the fact that low brow biotech hand grenades were the leading sector into today and now look at SAAS, -3.8% for the session.

Here’s the other thing that makes no sense — the dollar is getting smashed and bond yields soaring, +5bps on the 10yr. So both bonds and stocks are getting lit, but oil is up. Try to figure that out. You’d think gold would be up, but it’s not — down. But gold miners are UP. Confused yet? It’s by design.

When markets get confusing like this, at the same time I see high beta stocks getting routed, I step aside.

I am now 95% cash in my trading. My Quant has bee liquidated, aside from a few stocks, and will be re-allocated later on today, with a new stratagem.

Who gives a shit anyway? Markets are rigged, not rigged, makes no difference to me. Do you want to know the type of person I am? How about a generous and charitable gent, cavorting with morons online in the hopes money can enable you to marry up and improve upon your fucked bloodlines?

“The Fly” is not only a man of the people for the people, but he’s making bloodlines better. Without coin, no woman in her right god damned mind would marry you. But with coin, all of a sudden, you look interesting and with that interest comes babies — offspring is gifted with a +10 on the olde IQ and athletic ACTN3 speed gene granted by the Gods — making your family bloodline stronger and better.

Thank me later.

Futures are +42 Nasdaqs and I have a 20% position in CLVS — which I am telling you only because I know the inevitability of the stock’s trajectory and because I am a very hospitable man. You’d be wise to follow me and stop trying to learn how to trade. “The Fly” feeds hungry investors fish and never requires nor begs them to learn how to do it themselves. Trading, like speed racing, isn’t for everyone. You either have the trait or you don’t.

Why, you wouldn’t pretend to have the ability to race in the olympics would you? Then why bother trying to learn how to trade? Rigged, scam.

Dr. Fly is the truth. CLVS — write it down.