Fly Buy: JKS

I swapped my JVA money for JKS.

Disclaimer: If you buy JKS because of this post, you will die. And, you may lose money.

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My WNR is loaded up with viagra and ready to go. If you are saddled with a bunch of TZA or another short vehicle, I strongly suggest being patient with your next average down. There are many shorts trapped in this inferno funhouse and sky is the limit, with regards to the S&P. It’s all relative, as the market doesn’t trade on the laws of reason. Eventually, the rubber band will snap and you will make your coin, short stocks. However, just like when markets spiral lower, the key here is to survive. It makes no sense to buy TZA here. I am long TZA and will likely buy more, but not today.

Let the market breathe a little. People want to feel good about themselves again. I dare say, let them bid the shares of JVA or FFIV, as if this was early 2011.

My positioning is next to sublime, even though I am not fully participating in today’s rally. I accepted that fate when I sold on Friday. I will wait for the buyers to burn out, then shoot them as they descend lower.

For now, my top picks are WNR, CVI, TCK, JVA and short EXH. EXH is very weak, despite broad strength in the oil patch.

UPDATE: I sold out of JVA, north of $10.50.

[youtube:http://www.youtube.com/watch?v=TPu5ORNiUos 603 500]

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Thank the Lord Belgium nationalized Dexia. That was a close one. Now that Dexia is out of the way, we can can all chew on cocaine leaves and bid up stocks until our faces are numb. Despite my VXX hedge, I am up 0.5% this morning, thanks to the runs in TCK, WNR, CVI, GSVC and TCK. However, on the nose of Santa Claus himself, I do not expect this rally will continue for too much longer.

Having said that, I did warn you of an 8% October melt up, remember? We were down  since April and due for an oversold spike, regardless of the news. The market ebbs and flows to the emotions of people. Let me remind you once again: should you find yourself short stocks in November, you best hedge them with longs because being short stocks into Thanksgiving is always a money losing endeavor.

I haven’t been sucking on helium balloons just yet and realize we are still in October. Do not worry, I do not have a 30lb turkey in the oven and chestnuts roasting on an open fire. Halloween is around the corner, a reminder of sorts to limit short exposure. Nevertheless, I will have no choice but to reduce my long positions into this cocaine tornado.

As an aside, my little floater, JVA, is performing admirably.

More on this later.

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Futures are way the fuck higher this evening, on the backs of absolutely nothing. Men with money are snorting 8 balls of cocaine and buying S&P futures. My VXX and TZA hedges stand to get raped on the opening bell, by clowns dressed as gentlemen.

If there is one thing that is true, proven by yours truly over the past two weeks, it is this: you do not need to short stocks in order to make money in a bear market. My recent foray into equities netted 15-30% returns inside of 3 days. Just last week I was down 3%, now I am up 13%. My current strategy is a bit more aggressive, being 10% weighted in VXX with a side order of TZA and short EXH. But that’s just me living the high life, playing with profits.

Make no mistake, investing is an art. There are aspects that can be gamed via mathematical precision. However, for the most part, the seasoned pro fucks up the young punk 9 out of 10 bear markets. While in bull/retardo markets, the younger the better, since young people are too fucking stupid to know the difference between blue chips or red chips.

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Reformed Broker has a well spirited attack on the banks.

Personally, I like banks, but harbor great disdain for people who work there, specifically janitors and tellers. Generally speaking, banks are cool. I get to stash all of my money there, use their facilities to feel all important and shit. I even borrow money from them to lever up my balance sheet and buy properties. Sometimes when I get bored I open accounts at different banks, just to see how advanced their ATM machines are.

At times, banks piss me the fuck off, like when they close early on Sundays. Fuck that– bible humpers. I am busy and need your tellers to stay there 24/7, like ghetto check cashing establishments. Also, I get annoyed when their ATM’s run out of cash, like WTF? You’re a bank; you should have money forever.

Some really poor people complain to me about credit card interest rates. I have no real opinions on that, other than the obvious: duh, stop borrowing money. Other people tell me “the banks aren’t lending.” To them I say “maybe they are busy putting all of the money into their fucking ATM machines.”

Lastly, a bunch of people complain about bank executives making a “fuck load of money.” But the bank execs aren’t “the perfect meatloaf” type of guys. They have castles to maintain and harems to update. Their plummeting stock prices is punishment enough.Geez, give a player a break. Handing out large bonuses is the only way to make the bank execs feel better about themselves. A Pimp has to eat too. The world is so depressed right now. We should be happy for the bank execs, as they celebrate their unparalleled success over boat drinks served in diamond chalices.

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I am checking out now, amazed by the volatility of today’s action. Just 1 hour ago we were on the verge of bleeding out. Now we are melting up into the bell.

Into further strength, I will sell TCK, some WNR and CVI. However, I will NOT add to shorts, TZA or VXX. The possibility of a run away market is still present. God forbid the Germans decide to rape their populous for the Greeks, we will move 500 points higher from here. Nevertheless, I am content with my year to date gains, especially after benefitting from a garish run– in such a short time frame.

Until proven wrong, I will remain hedged and in a heavy cash position. But, unlike previous times, I will not let any of my positions, long or short, get away from me.

Have a bad weekend.

[youtube:http://www.youtube.com/watch?v=OKhGhyT-sMw&feature=youtu.be 603 500] [youtube:http://www.youtube.com/watch?v=5vqR_fO7GEs&feature=youtu.be 603 500]

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I’ve been buying VXX this afternoon, in between sips of tea and nibbles of crumpets. I intend to drop as much as 10% of assets into VXX or VIX related vehicles. The thought process is only to hedge against my 30% longs. Also, my EXH short position rings in at 5%. In all, I will have 15% downside exposure by the end of the day, with TZA in my personal–cost basis sub $45.

I am not looking for lightening bolts to the face trading action, just something exceedingly scarier than this.

As always, I will utilize my time machine, aka The PPT, for exit points.

My exposure is 15% short, 30% long, 55% cash

[youtube:http://www.youtube.com/watch?v=8wLfzmvr7Ls 603 500]

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I sold out of a variety of positions this morning, into strength. I was “blessed” by the Gods with an enormous IPGP scorcher. It was a top 3 position of mine. Anyway, “The Fly” has opted to adhere to the laws of nature by going to the sidelines and buying some TZA in his personal account. Over the past week, my gains were enormous, pushing my YTD returns to 13%, just 3% off annual highs. In other words, I am walking away a winner.

Now, I didn’t sell WNR or CVI because gasoline prices are dropping hard. National prices are down to $3.31, ensuring strong demand. Coupled with the fact crack and WTI-Brent spreads remain near all-time highs, I believe the refiners are a winner.

In addition to WNR and CVI, I kept 75% of my TCK position and all of my GSVC. GSVC is my high risk/high reward play, as they are invested in Facebook, Twitter, Zynga, Groupon and Chegg, just to name a few.

In case you were wondering, yes, “The Fly” will be dining like a King today, at the finest Michelin rated restaurant in NYC, guzzling down the finest ambrosia available in all of North America.

NOTE: I am still short EXH.

UPDATE: I bought a little JVA

[youtube:http://www.youtube.com/watch?v=mgHxmAsINDk 603 500]

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I sold out of all of the above, except TCK. I sold 25% of my TCK position.

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Fuck it. I am riding into tomorrow with all of my positions intact, with exception to TNA. I sold that shit because I have a brain in my skull.

Barring some Twilight Zone type of late day trading action, I will make about 4.5% on my money today, pushing YTD gains north of 11%. I sit here, like a greedy little boy with chocolate all over my face, wanting more chocolate. I want more chocolate and I want it now!

This is where I make my year or squander it. When I say “squander,” I do not mean disastrous lightening bolts will strike my face tomorrow. But if we get a down 300 open tomorrow, my gains will be muted and my momentum staggered. But if I am right. Oh, if I am right, it’s champagne and beluga, Bordeaux and howitzer exhibitions, totally demolishing my neighbors’ homes. Fucking cannon balls on fire, piercing their fucking lawn furniture.

I should be selling today; but I want more. No one gives a fuck about your opinions, son. Take notes and get out of my way.

“The Fly” wins all the time, even when it appears he is being obliterated. Never forget those words. Ever.

[youtube:http://www.youtube.com/watch?v=eZfJZYndffo 603 500]

 

 

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