The Return of R.W. Pelican

As you are well aware, the internet was not the same today, because iBankCoin was offline for a staggering 4 hours. To my dismay, it has come to my attention that iBC’s many enemies have been consorting with one another, in order to exact fiendish schemes against our internets. Through proper channels of discovery and diagnosis, we’ve located the person(s) responsible for today’s travesty and have contacted the iBC Security Apparatus, led by none other R.W. Pelican.

R.W. Pelican, Executive Chairman of iBC’s Security Apparatus

Effective immediately, Mr. R.W. Pelican has suspended his duties with the Vatican (God will just have to wait), where he was dealing with the “gay priest” issue in the most heinous of ways. He will now deploy all of his knowledge and wisdom of the arts of subterrestrial espionage, in order to flush out and extract iBC’s many enemies.

Upon landing in JFK airport today, enroute to iBC’s NYC headquarters, R.W. was quoted saying “These fellows who have arranged for upheaval shall be swallowed whole, soon enough, by the iBC Security Apparatus.”

In other news, the markets closed mean, with reversals in a lot of key names. My gut tells me I am about to recapture some lost coin in [[VXX]] shortly.

[youtube:http://www.youtube.com/watch?v=T20PLsUZsZA&feature=related 616 500]

Anyway, the market has weak undertones to it, especially in banks and industrials. Big chemical stocks are taking a breather, allowing for decent entry points. I sold some TQNT, in order to make room for GMXR. At the moment, I have a 25% cash position and 8% long VXX. My year to date gains are about 18-19%. Should the market tank here, I am pretty exposed to the downside. However, in that event, I will quickly deploy my cash to the FAZmobile, AND MORE. Just kidding.

Make no mistake, this market is super-duper stretched. Now is not the time to be levering up. Instead, you should be winding down positions, before the misfit on the teevee start scaring people out of the markets with their “go away in May” market hit pieces.
Nevertheless, I like FTK on this decline and CGA on this mini-spike. Longer term, I like my chances in EMN, AES, JCI and PKX.

What’s with the government releasing the emails of Goldman employees to the public? Obviously, they are trying to shape public opinion, via using fucked up, Orwellian, tactics. Naturally, if Goldman was a provider of e-coli tainted beef or genetically modified seeds, they’d be sucking their pants off right now, instead of publicly humiliating them. After all, Goldman was not even a major player in the CDO market. Let’s see what those fuckers from Bank of America Corporation [[BAC]] were emailing each other. As a tax paying citizen of the United Steaks of America, I demand to see Angelo Mozilo’s emails!

I will be out of pocket most of the morning, busy “doing stuff.” Just know, Caterpillar Inc. [[CAT]] and Whirlpool Corporation [[WHR]] posted great earnings and the market is about to punch the shorts in the fucking face.

FYI: The Godly folks over at iBankCoin have released their May Seasonality report, exclusive to the Distinguished Gentlemen of The PPT (unfortunately, pikers are privy). If you recall, some of the April seasonality picks were General Cable Corporation [[BGC]] , TriQuint Semiconductor [[TQNT]] , Southwestern Energy Company [[SWN]] and Weatherford International Ltd. [[WFT]] —all winners. This report is far more extensive and includes historical losers too, just in case the market turns down, which is a silly idea considering the market is a dollar, cash, money, printing machine.

UPDATE: I started new positions, buying 15,000 GMX Resources Inc. [[GMXR]] ($8.83-8.91) and 2,000 Cytec Industries Inc. [[CYT]] ($50.25). And, I sold 25% of my [[TQNT]] position, @ $8.30.

UPDATE II: I bought 2,000 Jarden Corporation [[JAH]] @ $33.83 and 2,000 [[CGA]] @ $13.37

Samsonite Hamburgalar discusses recent events with Mr. Devildog.

Oil is not at $140, yet. Nonetheless, rig count activity, both onshore and off, is through the fucking roof. It should not be a surprise to you to see stocks like Flotek Industries, Inc. [[FTK]] , Helmerich & Payne, Inc. [[HP]] , Weatherford International Ltd. [[WFT]] or Lufkin Industries, Inc. [[LUFK]] go through the roof. Rig count is near all time highs in many parts of the United States. We are talking about 25%+ sequential quarterly growth, in both oil and gas. What does that mean?

Quite frankly, it means nirvana for depressed drilling parts makers. It is not by accident that piece of shit companies, like Flotek Industries, Inc. [[FTK]] , Warren Resources, Inc. [[WRES]] or Global Industries, Ltd. [[GLBL]] have gone parabolic to the upside, but by design.

In summary, oil is back. Drilling is back. For the love of stale donuts, Le Fly is back.

I was going to do some big huffy post about chemical stocks, thanks to my recent win in Eastman Chemical Company [[EMN]] . However, due to my allergies making me feel as if I had the black plague, I am opting out. I am not interested in doing a huffy-puffy post. Pardon my acute laziness, as I kick back and die, thanks to grass.

The market is very whimsical these days, totally devoid of reason. I do not care to mock short sellers any longer. I feel bad for them. It’s like watching some schmuck at the poker table, pissing away his family nest egg. What these people do to themselves, via FAZmobile transport and SRScoptors, is a danger to those around them. As such, I propose rounding up all short sellers and sending them to “re-education camps,” where they can learn about Jesus, Santa Claus and Keynesian economics.

My Flotek Industries, Inc. [[FTK]] is following the path of the prophecy, and so is everything else. All of my positions are listed, very neatly, inside of The PPT. Go take a peak and see why I am better than you, despite taking a month off, busy doing “The Hugh Hendry” (never a crowd pleaser).

Once again, I was tossed into a murderhole for being long [[VXX]] . Immediately following today’s purchase, the market reversed and never looked back—sending those who are long volatility into deep, umm, murderholes. Seeing that I was wrong for averaging down, quickly and rather amazingly, I took a wad of cash and bought more Johnson Controls, Inc. [[JCI]] , TriQuint Semiconductor [[TQNT]] , Eastman Chemical Company [[EMN]] and Flotek Industries, Inc. [[FTK]] —all documented through neatly posted and time stamped notes inside of The PPT, of course.

Which brings me to my next point: I am entirely open to the realization that I will be killed, daily, long [[VXX]] —just so long I continue to bank coin in my stocks. I expect to enjoy some big dicked gains in a variety of my positions, none more than Flotek Industries, Inc. [[FTK]] . When I, finally, end up a net winner in Flotek Industries, Inc. [[FTK]] , expect “The Fly” to take a month off from blogging, as a punishment to you for doubting and/or questioning my market hand.

I want my daily 40 Dow points, like this guy wants his fucking cake.

This is what I am seeing:

Financials are weak, especially Janus Capital Group Inc. [[JNS]] , Credit Suisse Group AG (ADR) [[CS]] and BB&T Corporation [[BBT]] . But, SLM Corporation [[SLM]] , BlackRock, Inc. [[BLK]] and PNC Financial Services [[PNC]] are bucking the trend.

[[TLT]] was strong, but now weak.

The dollar, [[UUP]] , is strong.

Tech is mixed. There is weakness in Nokia Corporation (ADR) [[NOK]] , QUALCOMM, Inc. [[QCOM]] , ADTRAN, Inc. [[ADTN]] and Equinix, Inc. [[EQIX]] and strength in SanDisk Corporation [[SNDK]] , [[ARMH]] , Mellanox Technologies, Ltd. [[MLNX]] and Akamai Technologies, Inc. [[AKAM]] .

Generally, CRE is strong with leadership in Host Hotels & Resorts, Inc. [[HST]] , CBL & Associates Properties, Inc. [[CBL]] and Kimco Realty Corporation [[KIM]] . Ag stocks are mixed, with losses in Potash Corp./Saskatchewan (USA) [[POT]] , Manitowoc Company, Inc. [[MTW]] , Syngenta AG (ADR) [[SYT]] and Monsanto Company [[MON]] . Gains can be found in Astec Industries, Inc. [[ASTE]] , The Mosaic Company [[MOS]] and [[ARTW]] .

The most important sector in the market, the metals, are lower today, amidst China weakness. Names like Reliance Steel & Aluminum [[RS]] , United States Steel Corporation [[X]] , Mechel OAO (ADR) [[MTL]] , Olympic Steel, Inc. [[ZEUS]] and ArcelorMittal (ADR) [[MT]] are being taken to the cleaners.

Finally, retail stocks are strong, with gains in NIKE, Inc. [[NKE]] , [[CONN]] , AnnTaylor Stores Corp. [[ANN]] , [[KSS]] , J.C. Penney Company, Inc. [[JCP]] and Sears Holdings Corporation [[SHLD]] .

Regarding the near term direction of the market, pfffffff, the bias is still up.

I bought 10,000 [[VXX]] in the $19.20’s.

Okay, let’s hear about how terrible VXX is, with all of its fucked up contango.