IF YOU THINK YOU’RE STOPPING ME — YOU BELIEVE IN FICTION

HERE HERE.

It is a Friday and I don’t need to be doing this; but I am doing it anyway. I have nothing to prove to the world at my ancient age. I’ve been around, more or less, for the past thousand years — trading to and fro — having a grand old time on these internets in recent years. Some of you are GIGANTIC faggots and some of you aren’t. But one thing you all share in common is this notion, this far-flung theory, that you can stop me. This theft of honesty is, frankly, alarming.

Into the teeth of a short weekend, I stepped in and bought YEXT. Yes, indeud. Gaze at the chart and fucking tell me it isn’t heading straight for $20 — like a cock into condom.

Also, I bought BILI back, higher from whence I sold it — because Chinese video streaming is nuts. Look at IQ. Look at HUYA.

I teach you these things, my methods, because I am a generous man. You should thank me for being very nice, and very beautiful, believe me.

What the fuck is going on? It seems like every day someone else is hanging themselves. Sad news with Bourdain. He’s one of those people that everyone seemed to have liked.

If you’ve never read his epic book, Kitchen Confidential, do so. Here’s a piece in the New Yorker that led to his rise to fame.

People who order their meat well-done perform a valuable service for those of us in the business who are cost-conscious: they pay for the privilege of eating our garbage. In many kitchens, there’s a time-honored practice called “save for well-done.” When one of the cooks finds a particularly unlovely piece of steak—tough, riddled with nerve and connective tissue, off the hip end of the loin, and maybe a little stinky from age—he’ll dangle it in the air and say, “Hey, Chef, whaddya want me to do with this?” Now, the chef has three options. He can tell the cook to throw the offending item into the trash, but that means a total loss, and in the restaurant business every item of cut, fabricated, or prepared food should earn at least three times the amount it originally cost if the chef is to make his correct food-cost percentage. Or he can decide to serve that steak to “the family”—that is, the floor staff—though that, economically, is the same as throwing it out. But no. What he’s going to do is repeat the mantra of cost-conscious chefs everywhere: “Save for well-done.” The way he figures it, the philistine who orders his food well-done is not likely to notice the difference between food and flotsam.

Look at this shit. Trump is going in hard against Canada, France and the G-7. He’s bring the trade war from Asia all the way back home and now over the Atlantic to the faggots residing in Paris.

Looking forward to straightening out unfair Trade Deals with the G-7 countries. If it doesn’t happen, we come out even better!

— Donald J. Trump (@realDonaldTrump) June 8, 2018

Canada charges the U.S. a 270% tariff on Dairy Products! They didn’t tell you that, did they? Not fair to our farmers!

— Donald J. Trump (@realDonaldTrump) June 8, 2018

Why isn’t the European Union and Canada informing the public that for years they have used massive Trade Tariffs and non-monetary Trade Barriers against the U.S. Totally unfair to our farmers, workers & companies. Take down your tariffs & barriers or we will more than match you!

— Donald J. Trump (@realDonaldTrump) June 8, 2018

Prime Minister Trudeau is being so indignant, bringing up the relationship that the U.S. and Canada had over the many years and all sorts of other things…but he doesn’t bring up the fact that they charge us up to 300% on dairy — hurting our Farmers, killing our Agriculture!

— Donald J. Trump (@realDonaldTrump) June 7, 2018

Please tell Prime Minister Trudeau and President Macron that they are charging the U.S. massive tariffs and create non-monetary barriers. The EU trade surplus with the U.S. is $151 Billion, and Canada keeps our farmers and others out. Look forward to seeing them tomorrow.

— Donald J. Trump (@realDonaldTrump) June 7, 2018

Markets don’t like this rhetoric, so futures are off 50, Nasdaq ~40. Truth is, this is just rhetoric. Trump is like a child who needs to be placated. All of his threats, or at least most of them, end up in nothing. I would not be surprised to see stocks dive down lower on this news, especially because it’s Friday — but I’m pretty sure it won’t last long.

Trade wars aside, we’ve got a pretty good thing going here, globally. Business is strong, spirits are high, and markets have never been better. There’s literally nothing to fear but fear itself, or Zerohedge.

This is something that might rattle markets at little, should people pay it mind.

Near-term memory softness – reducing estimates on LRCX, AMAT, ASML, etc – Cowen (188.83)

Cowen notes recent checks suggest that market concerns regarding near-term NAND and DRAM capex softness appear to be true, but is not demand related, but more focused on pricing. They believe there is potential for wafer fab equipment (WFE) spending push outs due to chip pricing (for NAND and DRAM) and to a lesser extent yield-related issues (DRAM 1Y-nm) at Samsung. They view this as a timing related issue and believe it could be reflected mostly in C2H estimates and translates into roughly $2.5B in WFE spending. They are lowering 2018 industry WFE forecast from +12% Y/Y to +6% Y/Y and raise CY19 to +13% Y/Y from +4% Y/Y. Clearly LRCX (Outperform) and AMAT (Market Perform) might see the most impact due to their memory exposure, and KLAC (Outperform) appears the most defensive. They view this as near-term weakness and resulting in a resetting of expectations and forecasts. The more important takeaway, in their view, is that both CY18 and CY19 would still be growth years for WFE and speaks to their thesis of improved durability and lowered variability (less cyclicality) for the sector. Also reducing forecasts for KLAC, AEIS, and MKSI but maintain positive LT outlooks.

We’re only buy tech stocks — because those are the nerds who make us the most money. OilFAGS get beat down 8 months out of 12. Anyone who’d like to argue against that fact can go fuck themselves.

I don’t give a shit about futures or the fact that XYZ is already up 5,000% over the past 3 years — it’s going higher.

Here’s a simple enough screen for you Simons that displays the best tech stocks over the past month and the one’s that suffered the largest drawdowns today. What we want to do is watch them for upside reversals — get in — and then get the fuck out.

SAAS stocks are preferred, because it’s the Bernie Madoff of business — literally bullet proof. These companies didn’t slow down during the financial crisis; why would they slow down now? They’re using big data to drive sales inside high tech boiler rooms. Companies like HUBS, CRM, NEWR, and ZEN are making it easier to analyze and parse data for businesses to A/B test their ways into predictive and repeating streams of revenues that cannot be stopped — just like me.

Bet against me, fuck around, end up losing your house, wife, and kids.

It would be nice to take the day off from winning. The saltiness of loss and is a flavor worth tasting, in order to truly enjoy the sweet taste of success. But I sacrifice for you, the unwashed reader pleb, winning — day in and day out — because I am selfless in that regard.

Case in point, early this morning I stepped in and bought some Shitspotter (SSTI) in the $33s and now it’s in the $36s and heading higher. Most of the high beta stocks are diving lower today. My Bubble Basket is off by 2% and many a high beta name is off by 4%, including my ZEN.

But I also have a position in PS and it’s bucking today’s trend and pressing higher. All in all, my losses are minimal — thanks to my smart positions.

The only sectors working today are in oil. If you’re trading high beta stocks — you’re not enjoying life right now. But have faith in knowing that losses in high growth areas of the market are temporary phenomenons, likely to dissipate within a day or two.

Find your favorite stocks. Put them on a watchlist. Buy them.

I bought SSTI here because of the MUH chart. Open air running here, nothing but net.

Gonna slide for a few. Top picks into another rally infused mood: CBLK, PS, PVTL and MDB for a late day upside reversal.

Good morning lads,

It looks like my MDB earnings play is down a little in the pre-market, but up from my basis. I shall not be selling it today, unless it reverses and goes MONGO to the upside. The way I see it, I have so many irons in the fire that are stoking hot, I can afford a little set back in one name.

Early this morning, news hit the tape that the US came to terms with China over ZTE. This is good for semis and China stocks. Also, Jamie Dimon and Warren Buffett want to put an end to earnings estimates. These fuckers are hogging out.

THESE ASSHOLES TOPPED OUT pic.twitter.com/ecb6T3U3ww

— The_Real_Fly (@The_Real_Fly) June 7, 2018

Futures are up, Europe is up, Oil is up, the dollar is down. Welcome to the new normal where no one loses, unless they had it coming to them.

Here are this morning’s movers.

Just in case you’re keeping track. Here are my recent sales.

And here’s how I was positioned during today’s SAAS trade. You cannot defeat me. I can never be stopped. Just STFU.

I’m long MDB and they’re reporting earning after the bell. If you followed me into this, then you’re long from $49. This is where you get off and enjoy the gains and celebrate the virility of Commodore Fly.

All those riding with me into this dangerous and potentially ruinous report should know the risks. Mongo is a caged animal and wants to bust loose. Will it happen or will the stock Gods deny me?

Tune in after the bell for the exciting conclusion.