Feel Like Being a HERO!?

HERO –  Hercules Offshore, Inc.

Been getting lots of mentions lately and some buys in The PPT. It’s currently “teetering” on / just below it’s 20 day. I’d still like to get into this hurricane play mode besides my lackluster investment in HNU.TO BUT  I will wait. Should we go higher and you buy now “You’re a genius” and you got it on the dip, if we break this support you’re “Just another sucka”. Frankly I don’t care who I am or what you think as long as I bank coin.

As a result I”m eating a sandwich and god damn I’m hungry AND patient so might as well order a side burger as well.

That is all.

Some Offshore Rig

Yesterday, “Le Fly” posted some refiners he liked:

“In closing, I like the refiners here, specifically Tesoro Corporation (TSO: 13.64 0.00%) , Holly Corporation (HOC: 24.03 +0.21%) and Western Refining, Inc. (WNR: 6.27 -1.42%) . Additionally, I like Sunstone Hotel Investors, Inc (SHO: 6.73 -0.74%) , Flotek Industries, Inc. (FTK: 1.77 +2.31%) , Complete Production Services, Inc. (CPX: 9.70 -1.62%) , Hercules Offshore, Inc. (HERO: 4.83 -2.62%) and TeleCommunication Systems, Inc. (TSYS: 7.92 +1.41%) . Now get the fuck out of here and go eat a burger.”

They were up yesterday but at the time of this post they are down or at least most of them…  If you believe in the thesis,  you may want to look at potentially considering them on this “dip”.

As any “dip” you never know if you’re getting the bottom of it or just the start so …

I’m looking at WNR but probably won’t bite.

Western Refining Inc (WNR)

Being the percentage play kinda guy that I am, I’d rather see this close above atleast $6.53. Therefor @ $6.22 it’s not that appealing. Should I go for the “let’s get in early” approach I’d wait and let it drop much further as there appears to be no support down there.  I have no clue what the future holds but I do have control over my moves.  I’ll continue to wait, for now.

If you are interested in WNR here is some more reading “No Finer Entry Point on this Refiner”

A few excerpts worth noting:

“Western Refining used to be a high-flyer. The stock ran all the way to $64.59 in 2007 before tanking under the weight of the credit crisis that summer; WNR now trades at just $6.39 or a whopping 90% below its best price since going public in 2006. That’s a crash. [The stock closed $6.11 Friday before spiking 6% to $6.48 by midday Monday—Editor.]”

and

“The company is saddled with high debt, wobbling cash-flow and bad earnings. The stock has a market-cap of just $438 million. That means this little stock can be extremely volatile—rising or falling in excess of 5% or more in a single trading session.”

Any thoughts?

It’s Tuesday already and the future are UP. Seriously is anyone still short this market? Are you nucking futz!? Seriously!?

The only way I’d short this market is if I was guaranteed a spot in the nut house with this lady but I digress.

I’ m going to let the market continue to do what it’s doing. I mainly have gold, silver and some garbagio left and the rest is in cash. I’m cool with that and I’m patient.

I’m curious what the NEW RANGE is going to be. All the bulltards will assume we’re just going on a straight line to the moon, not going to happen. Remember how long we were in the last range? Those who bought at the top watched their positions go deep red all to have mega monster rally’s to get “back to even”. That’s the weak shit gentlemen.

I’ll be sipping,  smoking and waiting, patiently waiting.

Bear “Sitting” is not “BearShitting” you got that? Bear “SITTERS” just sit around saying this shit has to pull back, bear “SHITTERS” bet money on it and effectively “fuck themselves”.

I’m not bullish at the moment even though my bias stock wise is long. Truth be told I’m just patiently waiting something to happen. I sold out about a week ago in preparation for a potential pullback. Did it happen yet? NO.

I’m a patient guy unless it involves traffic or waiting for a girl when you’re taking her out for dinner. I can keep waiting… The market is all red now, statistically speaking it will go green today but secretly I hope it won’t. I want in on some high quality stocks and want them cheaper.

As a result I will continue sitting on a picnic table eating sandwiches waiting for my time to strike while you the “uninitiated pawns” continue to throw your money at anything and lose your limbs in the process.

You see… You buy stocks like some dude who is broke who needs a job. You’ll take anything trying to get “richer” but effectively you take the “Burger King Job” while I eat sandwiches and lay back on my picnic table waiting for the “Executive Position”. I then work half as long and a third as hard for triple the profits.

That is all.

P.S Instead of buying shit today, I sold shit. I sold the final 60% of my TKO.TO (TGB) position @ $2.94 from $1.90. Money in the bank is what it’s all about.

So is the rally going to continue? Futures point to yes but who really fucking knows. I’ve got “bigger fish to fry” then waste my time making some bullshit post for you, the uninitiated. If I was actively following the market and looking for setups then sure I’d share but I’m not, so I won’t.

It really is a shame that I don’t trust the market so much right now. Typically I love to trade, however I just don’t like ice fishing on thin ice so to speak. What a boring ass weak (sic).

Going long is interesting, interesting indeed. When you “go long” it usually means set it and forget it like that commercial for a crappy consumer item I can’t recall. I’m more into selling rips and buying dips but I don’t do it as often as I should.

SU – SUNCOR

While you’re busy buying shitty companies like CPE (sadly I own that) and other nickel and dime oil companies I’m sticking with Suncor. It’s a “STRONG SELL” technically on The PPT right now. Should we keep rallying and oil comes around, I’ll rebuy. I sold my previous holdings as follows 2/3  @ $33.33 – $36 and I bought 1/3 @ $34.85 – $36.43. I made a decent return, had I held I’d be nowhere right now. I love this company as it’s the low cost producer in the tar sands and solid fundamentals.

On the topic of “Buying the Dips & Selling the Rips”, next time I EVER own a stock that Cramer pushes, I”m selling at near the HOD before the stock comes back to reality. Most of the people taking trading advice from Cramer’s show are novice I assume. Why? Because if you listen to him maybe once, definitely twice you’ll be “Out of the Game”.

EGO – or ELD.TO – Eldorado Gold Corp Ltd.

Eldorado Gold – EGO shot through the roof after his mention. I”m in @ $10.70CDN on the TSX it jumped to $12.37 and I watched the whole thing. It’s now fucking around $11.50 or so.

What’s even funnier is how many people actually “Buy the Rip, Sell the Dip”. Don’t be one of those dudes ok? Got it? Good.

Have a FAStastic Friday or something like that.