Fly Buy: $PAMT

I started a position in PAMT, under $17.90.

TSLA is going to do “The $100 roll.” I think the valuation of the stock is insane. But that doesn’t mean anything. The stock, mind you, is going to $104, AND MORE, whether you like it or not.

Once again, trash is bubbling to the surface. Today’s theme is alternative energy names like CPST, BLDP and FCEL. There is likely more upside to be had in these names.

For me, I love my IMMR and JIVE positions, both top 5 positions of mine by size and stature. JIVE was going to be acquired by SAP, according to reports, but said talks broke down today. They were discussing a merger for 5 weeks, yet couldn’t agree on the details. Well, those details are always based upon money. Hopefully, they’re not making an absurd mistake. My money says they (insiders) know something we don’t and opted to cancel merger talks in order to see their share price climb higher, organically.

Bottom line: The bull isn’t dead. All of you pikers need to get back to work.

Often times ipos go unnoticed until their outperformance is praised by the media or until the stock price demands attention, by ripping tits off. I have a screen that isolates stocks with less than 12 months of data to monitor these stocks. Feel free to perform voodoo on some of these companies or buy them, if you’re into that sort of thing.

Outperforming IPOs (1 month)

SCTY +81%
TSRO +42%
RH +41%
YY +38%
ANFI +32%
XONE +31%
EQM +30%
FLTX +29%
QLYS +26%
PRTA 26%
AMBA 23%
DKL 21%
FANG 21%
STML 20%
I 18%
LOCK 18%
CST 16%
TAM 16%
IPDN 16%
EOPN 15%

Underperformers
ATOS
RKUS
LPDS
MATX
MRIN
SANWZ
HPTX
PFMT
JMI
BCC

PPT members can access full screen here.

You ball jugglers can’t keep “The Fly” down. After enduring a 2% drop this morning (that’s -6% from yesterday’s top), the market reversed and raped every single short seller into the close of trade.

Aside from my own triumphs, closing the day up more than 1%, I am in awe of the talent being displayed here on iBC on a daily basis.

I realize they don’t get the traffic they deserve, mainly because so many of you are obsessed with the ongoings of Plutonium Petey–but you need to visit the other bloggers here.

ChessnWine has displayed a cool head this whole lift and manages the 12631 trading room with poise and professionalism.

Ragin Cajun is one of the best intra-day traders I’ve ever seen. The crazy part about that is he doesn’t manage money professionally. He smoked stocks daily inside of 12631.

Just when I thought there were no other intra day traders like Ragin Cajun around, The Option Addict joined the team. Does anyone trade the rips better than him, really? I’m gonna force him to get more active on the site. He’s too good to hide.

I’ve been friends with The Devil for about a decade, on and off. He’s always into deals, making things happen, filled with energy, and always right about the markets. He’s probably the luckiest guy you could ever meet. Listen to what he has to say.

Raul, Zenhunter and Caine have been killing it too. They’re all good traders with different styles.

If you like Forex, no one does it better than Forex Kong. The guy is literally insane. See for yourself. He’ll bit your brains out from your skull and drink tequila out of it.

For the first time since 2009, I am content with the content on the site. Everyone is hustling and killing their trades. While it’s treu, we offer premium services and your business is always appreciated, there’s also plenty of free advice to be absorbed on the site, especially helpful to the new traders out there. When you’re ready to invest a little time and money into your trading, come see us inside of The PPT and 12631. You will not be disappointed.

By the way, The PPT algos nailed the lows of the market this morning, to the very tick. Here is a chart of recent OS signals, compared to price movement in the SPY.

Something tells me a lot of people are going to be disappointed by today’s tape, all but the cement headed gold traders of course. By the way, I do not trust the price of gold or silver, based upon a one day lift. If forced to own precious metals, I’d avoid the miners and go long a levered ETF.

Today has been a great day for trading. But I’ve avoided the task, especially since I am fully invested. I don’t feel like selling anything; therefore, I can’t buy anything. If I had cash, I would have bought both AMBA and WETF on the morning collapse and made a cool 250k doing it. Instead, I am barely up, no more than 0.25%. At the lows of the session, I was off by 2%. At the highs, I was up 1.1%. In other words, today happens to be a non-event for me.

Nevertheless, one should respect the renewed volatility and become aware that the NIKKEI is going to dictate the direction of our market in the near term. Japan has been the playground for risk, coupled with being a source of funds for carry trade loving deviants. Any prolonged pullback in the NIKKEI will be reason enough to sell into my birthday (memorial day), get drunk, and sit atop vast gains whilst the rest of the clowns try become viable.

I am very disappointed in the pullback in IMMR. I really thought it was primed to go.

Several Chinese burrito stocks are perverted to the upside, namely SCOK, CNIT, JRJC and SUTR. The Option Addict nailed SUTR. I do like JRJC here for a spin.

Don’t become discouraged. LNN is cheap as balls and The PPT called the bottom this morning, flagging an oversold signal. It is, however, not oversold any longer.

More later.

Because of the drop in the NIKKEI last night, the wildly successful ETF, ticker DXJ, is getting hit. Funds are divesting from Japan because of the severity of the drawdown. I expect to see outflows from Wisdom Tree by next week because of the drop. However, does anyone out there really think the NIKKEI is heading much lower? If you are like me and believe the dip will be bought, WETF is a must own down here, getting smashed because of the 7.3% drop in the NIKKEI.

Nothing has changed at Wisdom Tree. I still believe someone will buy them, either BLK or IVZ or anyone looking to get exposure to the rapidly growing ETF market.

Year to date, NO ONE has operated more efficiently than WETF, in the asset management space.

I do not have money to allocate at the moment, as it’s currently tied up in a wide array of names. But if I did, I’d start a half position in WETF now and average down on the next dip.

Everyone is mesmerized by the NIKKEI’s 7.3% drop last night, wishcasting a similar fate to western markets, particularly ours. According to the stock market handbook, the market is supposed to trade lower now, for an extended period of time–coinciding with memorial day and the summer plans of hedge fund managers. The only people who will be left at the trading turrets, in about three weeks time, are 2nd tier analysts and 3rd rate money managers, and of course yours truly.

The natural drawdown scenarios dictate the market will drop by about 10% from current levels, in order to clawback from the stupid money. You must understand, the money made by stupid people over the past 3 month, especially over the past month, is supposed to be destroyed by Mother Market. Stupid money is always designated to self-destruct.

Knowing that, coupled with the fact that you’ve made good money over the past 3 months, are you selling into weakness today? Or, will you buy the dip, believing that we can never trade lower again.

I don’t have the answers for you just yet. Timing tops is the hardest thing to do, aside from climbing Mt. Everest. I am heavily exposed to the long side, but crazy in the head too. I have no problems with drawdowns. I wish I could say the same about clients. They tend to loathe them. But that’s why I am the professional and they’re just market fans, cheering from the sidelines, like small school girls rooting for their favorite quarterback.

The solars have been leading the market higher, now they’re leading us to a viking burial.

I’m now down over 3% for the day, even my haptic play, IMMR, which was soaring earlier, has reversed and turned to red. I am enjoying outsized losses because my appetite for risk was outsized. In the event the market continues lower, I will endure more losses, up to 10% from the highs. Being that I was up 1% this morning, today’s reversal is -4% for me. I will see this market out, giving it the benefit of the doubt. However, I am not prepared to bet my life on it and will cut losses at the -10% mark.

Everyone is so dramatic when it comes to Fed statements. We’ve been here before. Why does everyone forget the answers?

Even if the Fed ended QE, do you really think they’d allow the market to tank for an extended period of time? Eventually, we all have to behave like adults, without the assistance of the Fed. However, the very fact that there is a bid under this market, via an activist Fed, should be enough to quell any Fed withdrawal symptoms that might emerge in the future.

All in all, today was a horrible day. I hate reversals. They always spill over into the net day. But this is the price of admission for the gamblers parlour. Losses should never come as a surprise.

The market has given up a 150 point rally. Under normal circumstances, I’d say “be careful, the market might go lower now.” But this market is anything but normal. At the sight of any dip, you will bear witness to financial perversion, as fund of funds allocate all of their money into long only funds. I don’t even want to talk about pullbacks anymore and how horrible they will be, once they arrive.

What’s the point?

I’ve been waiting for a significant, earth shattering, correction since 2009. Yes, I’ve been long and always bullish. But deep down I’ve been scared of a 2008 redux. Like many others, I was shell shocked by the crash, even though I was 100% short.

If you’re worried about market pullbacks, you obviously can’t “hold your butter.” How do you expect to make money if you’re not willing to lose some too?

For the day I am down 1.5% and loving it.

Someone put relaxer in my FRO. I’ll blow it out like Black Dynamite tomorrow, jive turkeys.

If you are unfamiliar with IMMR, watch this video below.

Haptic technology is a money maker. Immersion technology will be in the new Sony playstation and most likely the new X-Box, which was announced yesterday.

Sporting gross margins of an astounding 99%, embedded in all of the cool non-Apple devices, like Samsung, this name will continue to gain traction as Tim Cook destroys AAPL from within.