Stuck in the Mud

A tepid opening, following a robust showing in pre-market futures. Twitter raised their offering price to the mid-20’s. If the greedy underwriters aren’t careful, they will Facebook this deal and ruin the ipo.

I’m looking for deals; but must admit that I am stuck in the mud of mediocrity. I’ve shed 10% from the highs, now sporting gains of about 50%. There isn’t anything wrong with a +50% gain, per se. However, it is my right, under God, to make more.

Miners and coal stocks continue to show strength, highlighted by WLT, CLF and X. I have no interest in purchasing the shares of companies who specialize in 19th century technologies. “The Fly” is about about hi-tech, chasing down the trends and profiting from it, sans the occasional boat trade.

Nevertheless, the facts on the ground remain: I am in need of respite and have been bleeding out for too long. I am tentative of the market and do not trust the relaxed mood of the market, all the while momentum stocks drown in their own vomit.

There is rotation and then there is distribution. This feels like the latter.

BDI bouncing again.

Forget about that, there are earnings ahead and short sellers are jumping ship.

Top picks: BALT, EGLE.

It is the railway of all information. Those of you who are hating on TWTR because of valuation are just haters. You will never make money in the market–because you’re not built that way.

When I bought FB at $32, many of you mocked me, as it careened down to $18. Now that it’s above $50, you are firmly in the ‘fag box‘, tightly fitted, not leaving any time soon.

I can look at charts and confuse myself as to where I want to place my chips. Or, I can rally around what I know.

This is what I know.

YELP is a winner.

GOGO is a winner.

TRLA is a winner.

BALT is a winner.

ALJ is a winner.

My new buys will be in the tech space. I will own WDAY because the people running it (old PSFT gents) know how to beat street estimates, every single quarter.

I want to own ANGI, YY,  TRIP, Z and maybe a little OWW. I want to buy retailers into black friday. Names like AEO and ANF are dice rolls. But KORS and JWN seem like dunkshots.

And lastly, I want to own TWTR at any price. Do you know why? Because when you are buying a winner, you can do so at any price and know that eventually you’ll make money.

In my sunday afternoon readings, I came across this article, one that has been hidden from the American people for too long. The monster, Charles Lindbergh, was an idiot–and a Nazi knee-sucker.

As you were.

The hardest thing to do is to book losses at the lows. But a line has to be drawn, otherwise a 10% loss will quickly transform into a 20-35% loss.

Today I sold out of HK and MODN, for 10% and 8% losses respectively. My fear, heading into earnings, was a miss, which could quickly transform (extra MUMMA RA) small losses in the gargantuan variety. At the same time, I am dealing with BALT, which was -15% as of yesterday. However, thanks to today’s gains, my losses are a little less than 6%. ALJ, which was a winner, has turned into a break-even, after today’s move.

Take into consideration that I was leveraged at 130% of assets, a great risk in a downward tape.

The best option was to sell some of the dogs and prepare to re-enter the market with a fresh perspective.

Next week I will put my best efforts forward and take back the gains that were mine, which are now being held in stock market hell. Meet me in The PPT for details. I work best when I have something to prove.

Fat little catamites!

I’m not a bear. I only act like one.

Some celestial being is playing a sick joke on “The Fly,” offering winship in BALT, only to snatch it away (extra old lady with purse) with hideous losses in ALJ.

Why do thou curse me? Art thou shameful of thy actions, purveyor of catamites?

I know the stocks that I want to own; but they’re not in play now–so I might as well pack my things and hit the road.

My only happiness derives from the fact that BALT reports earnings next week. I feel they might surprise some people as to the true condition of their business. The BDI has bounced for two consecutive days and the sector has responded, immediately. If indeed we get a continuation of a rising BDI next week, expect huge gaps to the upside.

Other than that, I am disgusted by the predicament I’ve placed myself in. With cash, I am now able to remedy my ailments; but it will take time.

I sold out of MODN and HK, booking losses along the way. I am now off leverage (crack) and in a 5% cash position.

I would’ve bet a million dollars that I’d be up today. I did all of the appropriate things, sacrifices, blood, goat heads and such. The dry bilkers bounced, only to be hedged by dramatic losses in the oil and refinery space.

Just a short while ago, yours truly was sitting atop the world, pondering where to place his chips, replete with gains. After the barbarous last two weeks of October, I am here eating scraps off the sewer floors.

Laugh at your own peril.

Naturally, I cannot stay the course and must sell out of something, most likely near the lows, in order to restore normalcy.

I hope you made it over to the other side of October. Even though the SPY was +4.6% for the month, it was an unforgiving and brutal final week. Between my 0.1-1% losses, I almost went mad. Well, that awfulness is behind us now. Let us prepare for The Turkey Gods and throw liberal amounts of mashed potatoes around the dinner table, whenever possible.

Critics declare “America is poor. Her economy is in the tank.” To them I say “let them eat turkey.”

S&P futures are +3.5 this morning and the turkey run has officially begun.

At the stroke of midnight, “The Fly” will be sipping on a cup of earl grey tea (touch of honey, liberal amounts of milk), while reading from one of his books. Coincidentally, at the very same time, the special Halloween free trials will conclude, turning all of those trapped inside into free-loading pumpkins, escorted out from our halls and tossed onto the streets.

This is your last chance to steal a peek at greatness. There’s a reason why iBankCoin has the most successful premium services in all of finance, without the tin roof salesman approach. We’re the real deal.

The PPT

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After Hours with Option Addict

Enjoy.