Fly Buy: VMW

In for the $100 roll.

I sold TZA a short while ago. We’re going “broken robot” to the upside here.

Zero hedged.

Morgan is out with a report today explaining the bull case for the refiners, saying mid-continent refiners stand to benefit, significantly, from oil at Cushings. FINALLY!!!

They go on saying the bull case for HOC is $98 and WNR $26. It is a very bullish piece, indeud.

In simple terms, the refiners who have access to Eagleford shale or Cushing, OK, are seeing unbelievable profit margins right now, thanks to the divergence between Brent and WTI. If you are shorting refiners, you will lose a tremendous amount of money.

You’ve been warned.

We’re back to yin and yang on the UUP-SPY relationship. A great man once said ” When you find yourself rooting for the demise of your currency in order to bank a little coin in the stock market, you will know when you are a fucktard.”

“The Fly” saw his gains expand today by 2.1%, pushing his year to date returns to 7%. The story of the day is not Greece, but the banks. I went long BAC, FAS, as well as a variety of call options, betting the banks will get their turn, AND MORE. I stated earlier this week you would witness “The Fly” take his paltry low single digit gains to double digits “in no time at all.” Well, I am doing exactly that, with ease and class.

I went about my day in a very dignified manner, which is why I am able to speak to you with such pride and unchecked hubris. I did not day trade in and out of small shares, like some other weird bloggers out there. And, I didn’t tweet and retweet about stories of doom. I started my day watching a strange woman on CNBC conduct a broadcast with a gas mask on, while eating oats from my oversized bowl. Then, I hurried over for a swim, while entering my bank buys. At the end of the day, I came out on the winning team.

Crack spreads rampaged higher today, helping push HOC to new all time highs. With a little patience, you will see WNR at $20+ in no time at all. Upon WNR touching down on $20, I will cut the heads off of all of the dicksuckers who besmirched me for going long the name (I know who you are and where you live). I will activate iBC’s Orbital Space Cannon (OSC) and vaporize your fucking house pets.

In closing, I will be doing another Q&A on StockTwits tonight, starting at 11:30, ending at 12am. Be there or not, either way it doesn’t make a difference to me.

I’ve been heavily long the market going into this week’s splendor. Just two weeks ago, I was down 8% for the year, after having a 13% gain. As you read this I am up 1.5% for the day, down from 3.2% for the day, putting my year to date gains at 6-7%.

Thus far, this has been a bad year for me, despite outperforming the market.

As you can see, I’ve been adding to names today “just in case” we are in the midst of a serious melt up higher. There are a lot of people leaning short now and the needle is in their respective sides now. Should we continue higher, they will capitulate en masse. I was 95% long going into today and now I am 98%. In the big scheme of things, I’ve made little changes in my portfolio.

Your next question is “why aren’t you selling?

I intend to sell soon; but I’ve opted for a more patient approach to the current OVERBOUGHT levels. Reason being: the negative catalysts that were plaguing the markets have been eliminated, for the time being. There is a real chance the market can head back towards new highs, providing the next jobs reports is market friendly. I am being patient and fully accept the consequences of my unparalleled greed.

I bought FAS, BAC, FCX, WNR, CLF and TZA today. It’s a mixed bag of shells, but perfectly sane from a bullish point of view. The TZA is a new position and I intend to build upon it as we press the upper limits.

Investing is as much of an art, as it is an exercise in mathematical precision.

I started a new position in FCX.

Today’s early trade offered a triple fake out, where sellers accumulated at the open, only to be trashed and flushed down toilets inside of 60 minutes. Although I started a small position in TZA for my personal, I am still “all in” in managed accounts and I am heavily leveraged long in my personal.

I do think we are due for a minor correction, which is why I am somewhat cautious here. However, valuations keep me buying and long. I love CLF here, up to $106. And, of course, I think the refiners are the single best investment ideas out there right now.

Yesterday I picked up some PFCB and NXPI. I like the restaurants, especially with lower oil. And, I believe tech names have been oversold. Names like BRCM, DIOD, CY and SWKS should be bought.

This is where the shorts tap out due to max pain. This is where you can press them in names with large short positions.

Be quick, smart and don’t forget to book profits.

UPDATE: I bought FAS and BAC.

I added to my CLF position.

UPDATE: I bought WNR.

I bought TZA in my personal, for a hedge.