Many of you wouldn’t know greatness if his cleats were stuck in your chest. “The Fly” is in the process of making his second greatest call of 2008 and most of you are doubting him.
Not only are you doubting him, you are not paying attention.
Often times, “The Fly” could care less if you read his blog or take advantage of his superior instincts and intelligence quotient. However, this time, you need to watch.
Speaking to my “smart friends,” I can tell you they are BIG TIME oil bears. In addition, one of them is heavily long Fannie Mae [[FNM]] , “based upon the technicals.” Without besmirching him too greatly, I say he is 100% wrong on both fronts.
Under no circumstance, aside from a criminal act, should the government enter Fannie at the equity level. Therefore, it is likely the stock will go to zero.
As for oil:
The trade is crowded to the downside. Everyone is betting against it, due to “dollar strength” and other gay stuff, like: “hey it didn’t go up on that Russian thing ova there.”
Look you, I have zero patience to explain how I operate and when I will catch fire.
Just know, “The Fly” is on fire, in a very egregious way, with year to date gains topping 45%—at the present.
Top picks: [[DIG]] , [[RKH]] , [[UYG]] , Southern Copper Corporation (USA) [[PCU]]
‘Cane Update: Via Dr. Masters.
Comments »However, most of the cone of uncertainty lies in the major oil and gas producing areas, and I give a 60% chance that Gustav will significantly hurt oil and gas production in the Gulf.