[youtube:http://www.youtube.com/watch?v=Ev_1lzEixXQ 450 300]Comments »
The news from Pakistan is not good. Aside from that, the market was extended, which equals loads of pain ahead for the bulls.
While it’s true, “The Fly” loathes beartards, it makes sense to do some serious selling, up at these lofty levels.
I don’t know why I’m so bearish. It’s rather perplexing. Whenever I see stocks, I want to sell them.
During Christmas festivities, I was the guy, near the fireplace, who told you, : “sell everything fuckface. We’re going significantly lower, soon.” Then, I’d walk away and grab another shot of whiskey, much to your chagrin.
The purpose of this site, is to provide actionable ideas. However, as you know, from time to time, “The Fly’s” time machine transforms into a shitmobile, effectively losing everybody money.
I’ll have you know, the shitmobile is parked in the garage. I’m now driving a brand new, space aged, pimped out, time machine— not to be confused with time masheens.
My point: “The Fly” is much smarter than you, and wins all the time, even when he appears to be losing. Over the last quarter, I snagged sweet trades, such as [[GRMN]] @ $85, [[RIMM]] @ $100 or [[VMI]] @ $74.
What did you do?
Let’s not forget, my fellow blogger here at iBankcoin, Danny, was right 72% of the time, booking a 123% gain in [[RICK]].
As for today’s trading:
This is not a buy on the dip scenario. I want to sell short [[LEH]] and go long [[FXP]] and [[SKF]].
Then, I want to go eat a sandwich, drink a few Monster Energy Soda’s, while throwing empty glass seltzer bottles at my trader/servant.
Proof of genius pending.
UPDATE: Proof of genius has been canceled. A rain out if you will.
UPDATE II: “ASSHAT OF THE YEAR AWARD” coming soon.Comments »
[youtube:http://www.youtube.com/watch?v=tsm2hSKkH7E&feature=PlayList&p=8AF18B710B3DB739&index=22 450 300]Comments »
Today marked the 6th consecutive winning session for the Naz. Without doubt, we are enjoying a “Santa Claus rally.”
In addition to that, many fund managers are walking up their positions, for end of year sales literature. Basically, they want prospective investors to see their fund is long [[AGU]], [[MOS]] or [[GS]].
One big positive for the market is the resurgence of liquidity, via sovereign wealth funds. A new one coming out of Saudi Arabia will manage 900 billion dollars. It’s like fucking monopoly money to them. Unreal.
With all that coin, it seems plausible that there will be a bid under many of the financial stocks. The zillion dollar question (clearly not to outdone by trivial billion dollar questions) is: How stupid are the Arab managers?
If I were them, I’d see to it that the insurers, like [[ABK]] and [[MBI]], go bankrupt. This way, I’d be able to go “jumpin’ jihad” on [[C]], [[MS]] and [[MER]], buying all of them for half of what they are worth now.
However, that’s just me. I’m somewhat evil. They’re much nicer than “The Fly,” without a doubt.
As for today’s light trading:
I enjoyed caffeinated moves in [[WBD]], [[CORS]], [[LFT]], [[AGU]], [[RIG]] and [[MVIS]].
Again, I cannot stress this point enough: use this low volume manipulatory rally to lighten up and set up hedges. The reasons why I believe the market will get flushed, during the first two weeks of January, are “time machine” related and, quite frankly, none of your Goddamn business.
Top pick: [[FXP]]Comments »
I sold 1,000 [[VMI]]Â @ $96.25.Comments »
[youtube:http://www.youtube.com/watch?v=l1RPHWjb2Ik 450 300]Comments »
I sold short 1,000 [[LEH]] @ $64.38.
Disclaimer: If you sell short LEH because of this post, you will suffer from food poisoning on New Years Eve. And, you may lose money.Comments »
I bought 1,000 [[FXP]] @ $70.65.
Disclaimer: If you buy FXP because of this post, someone will throw hot tar on you new car. And, you may lose money.Comments »
I sold 2,500 AGU @ $72.Comments »