I reduced my position in Cummins Inc. [[CMI]] by another 25%, leaving me with half a position. I will sell the remainder above $60. Also, I added to and initiated positions in a number of names, like [[CBD]] , Brocade Communications Systems, Inc. [[BRCD]] , [[TAN]] and Visa Inc. [[V]] .
The bears have been routed. Now it’s time to raze the conquered cities and loot it for all of its worth aka “rape and pillage.”
Disclosure: Long, with great vigor, into the bell. “The Fly” wins again.
Why do you care if I lose oodles of money? I’ve been doing this shit for over a decade and have survived and thrived in all sorts of fucked up markets. This one is no different.
So, I am making a call. I choose, fully aware of the homos in Greece, to be long, despite the wall of worry. Leave it up to people like Dylan Ratigan and Rick Santelli and this market will be trading just north of 30. It is my belief, and always has been, they are both misfits, totally unable to discern a rabbits ass from a donkeys. See folks, some people are meant to fuck goats in Romania, others ride horses and raze villages for sport.
How much lower will the market go?
Geez, you fucking assholes make me sick, talking so much, so fast, about “sovereign debt” and the “grave ramifications” of said debt. Did you even hear what Cisco Systems, Inc. [[CSCO]] said? Are you aware that end user demand, ranging from commodities to denim at Guess?, Inc. [[GES]] is thriving again? You’re mixing up the honey with the urine, jackass. Huge declines hurt and in hindsight I should have sold more, just to be safe. However, here we are with a decision to make.
Is this sell off the 2008 variety, with all of its cancerous trimmings? Or, is this your standard, run of the mill, 10% market correction, that will soon be nothing more than a bad memory?
I can’t answer that question for you just yet. However, I will tell you, based upon the laws of The PPT algorithms, we are indeud OVERSOLD. Every single time The PPT dipped below 2.30, the market, almost to the day, surged higher, immediately thereafter. Well of course I know trends are made to be broken. I can hear what you are thinking and right now you are doubting Le market hand de Le Fly. Nevertheless, like George W. Bush, “I’m going it alone” and will “nu-ku-lar” your fucking faces, once this “mission” of mine is indeud “accomplished.”
UPDATE: I bought 10,000 [[EWP]] under $40.40, based upon my balls to brains relationship.