Fly Buy: WNR

I bought 10,000 WNR @ $8.58.

Disclaimer: POMO, QE2, QE3, Clams, Beard and Turkey.

You didn’t think I’d let today go by without chiding you little bastard trollops, did you? How many times did you ingrates mock me for owning FTK, my own bloggers included? You made schoolhouse nicknames, disparaging my position. You mocked my million dollar paper loss, as you bought your stupid girlfriend new boots. You declared: “Fly is getting FTK’d in FTK.” Har, har, har.

He who laughs last, laughs with the greatest sense of entitlement.

You Sir are NOT better than me. You Sir can only wish to win while losing. You just lose, all the time, because that’s what you do.

As the stock declined, over the past two years, I did my research and figured out what the numbers might look like, providing US rig count spiked. What I didn’t account for is big new business in Turkey and Saudi Arabia. This adds a whole new dimension to the possible upside of FTK. With a cost basis of $2.07, I am now up more than 25% on the position. Even more importantly, as said inside of The PPT, following my personal TZA drawback, I went “all in” on FTK, for personal aggressive accounts, in the $1.50 range. Needless to say, said accounts are at all time highs.

My managed accounts, for the day, are up 3.6%, near all time highs, or +40% year to date.

In summary: bet against “The Fly”  and lose your fucking house, wife, and kids— due to foreclosure proceedings.

Despite the worrisome action in California munis, I sense another turn is coming in the market. Using the new PPT breadth tools by industry, I can tell you that auto parts stores, dairy, restaurants and refiners are holding up well in this tape. I can also tell you that despite CSCO and the little chum fish that feed off her, today’s tape is not all that bad. Granted, I am taking a drubbing in HEAT (sold half yesterday), SNIC and FUQI. However, I am making lots of clams in FTK and EJ (#1 and #2 positions by size), putting me +1.76% for the day. You have no idea how big my FTK position has become. Nonetheless, I am ardently convinced it will trade up to $3, AND MORE, by year end.

Aside from CRK and BORN, I nibbled on some WFR down here. I played this stock, back in the day, from $9 to $90. It was one of my biggest winners ever. With RC giving it the green light and earnings behind the company, I have no problem buying it sub $15.

Aside from that, I like the action in FORM, especially considering its bountiful cash position.

Bottom line: The Gilded Era of POMO/QE2 nirvana is upon us. Do not let a little CSCO or soon to be bailed out Ireland get in the way of a perfectly good party.

I added to both CRK and BORN positions this morning.

UPDATE: I bought WFR too.

Disclaimer: California munis are getting hammered again and the leprechauns in Ireland have no pot of gold. Therefore, buying stocks now, especially the ones mentioned above, is sheer madness.

Let me be the first to go on record saying ” I will not be fooled by these tricks, as I do not believe my own eyes.”

The difference between yesterday’s bullshit sell off and today’s is time. Time is the only thing that separates the Bearded Clam from his destiny. Who am I to doubt what The Clam is doing? After all, does he come into my house, telling me how to vacuum my rugs or how feed my pet lobsters?

Absolutely not!

Therefore, I will not sit here, doubting him, as this market dives lower.

In other news, FTK wants to go to $3. I hope you understand by now, the company is in full recovery mode. Go read their earnings press release and listen to the conference call. Growth is back with a vengeance and it will continue. They gave guidance, alluding to October sales trends, which places company revenue at 45 mill for Q4. If that’s the case, expect the company to make a profit of .05.

As per the terms of their financing, should the stock close above $3.02 for 20 consecutive days, the company has the right to force conversion on millions of warrants, which would serve as a major windfall for the companies balance sheet. With the stock at $2.40 and climbing, it’s only a matter of time until this happens.

Aside from that and my second largest position, EJ, everything sucks.

Inside of The PPT, I do crazy things. I build indexes and watch them closely, not so much different than an old man fireside with his kids. I built a 4g/smartphone index way before any of you asshats knew what 4g was, including Cramer. Well, one of my favorite index’s is The Risk Appetite Index, which consists of a variety of closed end muni, corporate and sovereign bond funds. Essentially, it should give users a heads up to shady shit, not so much different than the CDS market, only less sophisticated. You get what you pay for.

Here is a look at the RAI, during the “Flash Crash” period to date.

Now, let’s zoom into the recent activity.

(3 month)

(1 Month)

Why the sell off?

Answer: Since QE2 was announced, bonds have been getting hammered, sending yields ripping. This is of course the opposite of what the Fed is trying to accomplish. Remember, HIGHER YIELDS IS THE DEATH KNELL FOR AMERICA. TLT is now sitting with a 96 handle, after hitting $108, not too long ago. Over the past few days, as represented by PCK, California munis have been getting shredded. As a point in fact, munis across the board have been getting hammered, but none as bad as the Cali variety. As you should understand, sharp downside reversals do not bode well for sentiment and could lead to a panic, if not properly managed. Having said that, CSCO reported bad earnings today, blaming “developed governments and states” for the shortfall. Basically, European austerity is kicking in and our states are fucking broke.

However, things are peachy elsewhere. CSCO is flaunting flamboyantly gay growth in all BRIC nations. As you can see by tonight’s Asian session, they couldn’t care less about our “issues.” I look forward to banking more egregious coin tomorrow, as the pigs in Cali die a painful death. They are all a bunch of lazy, drug addled, spoiled leaches anyhow.

PCK (PIMCO California Bond Fund)

UPDATE: Details regarding the coming 12631 launch.

Thanks to HEAT, FTK, CAAS, GMXR, SCOK and late comer CGA, I made up all of yesterday’s losses, AND MORE.

Into the bell, I sold half of my HEAT position, since it was up 16% and was a bit too large, considering recent lotto earnings disasters. Nonetheless, I still own a considerable amount.

The market melted up again, as predicted. Get on the wagon, else get left behind sucking on dirt or dicks, whatever is your preference.

For the fun of it, I added to BORN too, based upon a random dart throw in my garbage basket filled with ticker symbols. One day I will demonstrate this investment method, on video, for all the world to behold.

Ciao (the most annoying form of goodbye)

I bought CGA around $9.30.

UPDATE: I bought CRK too.

UPDATE: I added to BORN

Disclaimer: As you were.

I didn’t get it for about a month and change. Now some of you fuckers still don’t get it, refusing to acknowledge the magic being done in front of your faces. Bernanke may very well be Jesus reincarnate (blasphemy is not a sin on iBC).

Following an early morning drubbing, which brought out all of the “zerohedgers” out from their respective burlap’d pile of shit, the market is climbing. CRE, banks, tech, oil and motherfucking retail are leading the way. How about that? BJ is lifting on private equity rumors and I am now up 4% on my FTK position. It’s the will of the Turkey Gods, assholes. You are forgetting the answers. You can’t short stocks going into the most gluttonous time of the year for America. We love us some turkey with some mashed potatoes, stuffing and gravy. It is not logical to make bearish bets, before such a feast. If you attempt to do so, the Turkey Gods will claw your eyes out, then kick you into oncoming traffic.

Having said that, my positions are mixed, up 0.5% today, led by FTK. The company is scheduled to report earnings after the bell.

Right here, right now, I still like beaten down commodity plays, like GMXR, CGA and CRK. If you are a PPT sub, I am using this screen to find said names. Notice what they all have in common?

Be careful with these hot money plays, for they are getting bombed into the stone age on earnings. Yesterday, one of my holdings, CAAS, reported solid earnings, yet slipped a buck fifty, nonetheless. Let’s not even mention BORN. That fuck dives 10% if someone at the company sneezes sideways.

Even still, today should be a solid day, after a good jobs report. Plus anyway, the Fed is actively manipulating the markets, in an evil underhanded way in order to blow up our Asian counterparts. There is something very fucked up taking place between China and the US. Last night, China scrambled to raise reserve requirements for their banks by 50bps. Everyone openly acknowledges the fact that US clambux are flooding Asian markets to the point where dangerous bubbles are being formed. If you think about it, what better way to fuck your enemy than to create a monstrous bubble in their bullshit country that will one day blow up and cause armed revolt? Rofl.

China might have us by the short hairs via treasuries; but we have them by the fucking head with all of our clambux over there.

It should make for an interesting decade.