Gone Fishing

I bought a few tiny positions yesterday and closed out a few more today most notably Suncor (SU). I’m not liking this action at all and frankly, I don’t care where the market goes from here.  We’ve had a most epic run the last few months and I’ve made some decent coin.  I still have some positions open and I had big cash reserves relative to my portfolio before I even started selling stuff the other day.

The fact that I’m impulsive and love fucking around with my brokerage account will be the death of me. To save myself from myself I”m “going fishing” the term just kinda fits, but in reality I will do some fishing and mainly just play golf as it’s more entertaining and hell, I already paid for it.

I don’t need to catch the inflection points and “make a killing on anything”. I’ve got it good and after watching that Paul Tudor Jones thing last night it made me realize, fuck dreaming of the profits, protect your capital.

If this was a war, and I was the general, I’d be back sipping tea while you pawns go out and risk losing your limbs. I don’t know where the market is going but I”m man enough to admit it. As a result I’m not putting much of my ammo into this current battle.

I’ve got things to do, important things. I’m sitting here with a massive jug of water and a smile on my face.

I’m not smiling because the market’s going up again or appears that way and I sold 66% of my SU yesterday, I’m smiling that GOLD is kicking ass and as a result one of my major holdings EGO aka ELD.TO looks oh oh oh so close to making new highs. Indeed.

Also, most of the stocks I sold the other day are still depressed because they are shit companies I never should of given a dime in the first place. I could say I wish I had kept 50% of my STAR but that’s asinine. I sold a tone of equities shotgun style, bound to be 1 or 2 that react better than expected, of course no way of knowing except after the fact.

I watched some of that Paul Tudor Jones last night until I was forced to leave for a pre-arranged dinner arrangement. I suggest you check it out, it’s quite fascinating to see someone that passionate and good at something, refreshing really.  If you watch “Trader” I suggest you go to 14:20 and listen to his economist assistant. “You don’t have to catch the top tick”.

EGO – ELD.TO

I was just checking in on The PPT to get this graph and it turns out Cramer has been talking up and thinks it will double. Not sure what that means but people are sending in buy orders and I won’t argue with that.

P.S: Obviously I heard about, thought about and bought EGO AFTER reading all the great material and backing provided by none other than “Jake Gint” if that is his real name. The link is to one of his many posts on the topic of EGO & of course precious metals.

P.P.S Everyone is going all “ape shit” that Paulson bought such a large stake in BAC and that “we must be out of the recession”. Who knows, we may be. Just remember that he didn’t buy it YESTERDAY he bought it months ago ~ $10. There is a big difference.

Ahh yes, I’m enjoying life and particularly my significant cash position with the majority of my gains LOCKED IN, the way they should always be.

I don’t care much what happens in the next little while considering the creature comforts of the cushion I’m currently sitting on. It’s quite nice, really.

So… Sold out of GU yesterday – HOMO-HAMMERED in earnings. Rev down 57%. Sold out of my entire PRGN – 60% @ $4.61 (Close) the other 40% @ $4.87 in after-hours. Kept SOL and it’s earnings are well quite decent considering JASO lost ~50% revenues and is getting the “homo-hammer of death” administered by none other than the CEO of ANF himself.

For some reason I stayed up last night to an ungodly time doing ungodly things… I’m most definitely paying for it now.

I think I’m going to go shopping today. Not for some consumer retail bullshit, you see you can dress a piece of shit up but it’s still a piece of shit. The inverse is also true which relates most accurately to yours truly. I think I’m going to start looking for another online business that has a hap-hazard owner. The kind of guy who is like a “Mule and a spinning wheel, damned if it knew how it got it and even more damned if it knows what to do with it”. Take that and add another stream into what is quickly becoming the “Funnel del Dubz” into a reservoir that grows on its own. For you, the uninitiated it means it’s passive income.

Before this most significant market crash I always thought of people who invested as those who lacked creativity. Why give my $$$ to some Joe Blow when I can better utilize it myself for returns!? Then you start getting more and more money until you get to a point where you say “Fuck it, why not let some grow their as well”.

As far as I’m concerned this “rally” that started magically on the 6th of March is getting well … Tired. That said I’m not totally out of the market but I have SIGNIFICANTLY reduced my risk, particularly by getting rid of the “terds” (sic) that I held too long. I could go into a SICK analogy but I won’t.

Current holdings:

Big Holdings:

HNU.TO -> Think UNG
SU
TGB aka TKO.TO
EGO – ELD.TO

Other holdings:

AIB
CPE – Getting ass raped
DSX
DVAX
EXK AND EDR.TO (Own it on both exchanges!?)
SOL
STAR
GSS – GSC.TO
NGX – NGX.TO

If gold goes under $900, mark my fucking words I’m marching downtown and buying some gold bullion.

That is all.

I had the displeasure of going for a leisurely yet lonely stroll through a somewhat popular mall. I use the term “popular” loosely and was accompanied by a lady friend into a myriad of empty and depressing stores.

For starters, it is summer and the weather was decent. We’ve been having awful weather lately so it’s possible people were just “soaking it up”. That said, I had to cancel a golf game due to lightening earlier so it wasn’t that good.

The mall was totally empty, let me paint a picture for you. Picture yourself at a tradeshow for some lame industry at a horrible location. Now look around the room and the only people you see besides the odd straggler or luncher* are exhibitors. It was the same deal here, if I had to guess, I’d say retail and mall staff made up a solid 70%+ of the people in the mall. It was basically just workers and the odd retail slave.

We went into some store for god knows what reason and she started looking at pants. I didn’t look at prices and was more interested in the lady working retail to be honest. The point of this story was all I heard was some other girls say “Wow, at $20 I can’t not try these on”.

We then proceeded to a Starbucks that was empty. No one in line, nothing. The traffic in the actual mall itself was abysmal.

To cap things off we stopped by Laura Secord. There was two gothic looking staff in a storefront that was not being restocked. Of the little merchandise I did see most of it had a 40% off sticker. Finally, all the racks that were available were almost too full, as though NO ONE was buying any.

On my way out I also noticed a storefront that was empty with a “something new is moving here soon sign”. I’ve been going to this mall off and on for over two decades and I’ve never seen a storefront open. It’s possible it emptied out today and was being rebuilt tomorrow but I doubt that.

In closing, the retail acion I had the displeasure of witnessing can only be described as depressing.

*luncher: a type of miscreant that routinely crashes tradeshows for the free lunch.

GOD DAMNIT!!! I’m pissed off that I’m such a greedy fucking bastard. Last night in the middle of serious indigestion from drinking a solid 2L of orange juice with extra pulp I woke up with a thought. The thought I was “I NEED TO FUCKING CLEAR OUT MY POSITIONS”. I woke up this morning and I had the perfect opportunity as most were UP pre-market. However being a GOD DAMNED GREEDY BASTARD I HELD.

Now, let’s make one thing totally fucking clear, I absolutely HATE losing money. I fucking loath it. I just got back from lunch and as I expected… Most of my positions are getting HOMO-HAMMERED.

Most of the positions I was going to sell / still holding onto like a bag holder took for fucking ever to get back to “break even area” after this melt up. I was actually looking this morning being like … WTF how did the DOW climb 1000 points and my shit is barely getting back to even. It’s like I was in the stock forever for it to climb 20% just to get back to b/e. Want to know what sucks? Half way through well just now in the rant the phone rang and I just sat and listened to shit that didn’t interst me and it threw off my aggression. God damnit!

Either way look in the comments I’m going on a fucking selling spree. I have great gains that WILL be kept and keeping my gold related stocks and silver. The rest for the majority are about to get a big ass punt and in the future I am going to be VERY VERY hessitant to buy and quick to sell instead of the opposite.

Now, in case one of you fucks says I”m copying “The Fly” with his post here, “FUCK YOU”. I just rushed in from a long lunch as I said with this in mind and it turns out we’re on similar pages in this particular matter. THAT IS ALL.

The following stocks just got killed in the guillotine: ESLR, BRCD, GU, AMD, SMTC, TKLC, TXCOQ, TGB (Sold 40% @ $2.68 from ~$1.90.)

Waiting longer in the day for a climb or ditching if it drops: AIB, XTXI, 50% of my STAR, CSIQ, SOL (waiting as tomorrow is earnings), CPE. PRGN releases earnings after the close… Waiting that out until at least near the close.

Undecided: TGB, DVAX, DSX.

I’m going to keep this brief as I have many much more important things to do today. That said, I have done a few scans and found some stocks of interest to me and who knows, you may find them interesting as well.

Pengrowth Energy Trust – NYSE:PGH – TSE:PGF.UN – PEG Ratio – 0.07

“The Company, through its subsidiary, engages in the acquisition, ownership, and operation of working interests and royalty interests in oil and natural gas properties in Canada.”

This stock looks good to me and The PPT seems to like it with a hybrid of 3.86 of note is the fundamentals of 4.9/5. It says the dividend is 20.1 but that seems a little too high, this is something I may look further into. I’ve heard from a friend of mine in the past that energy trusts are a great source of dividends for the long run, especially some that are severely beaten down now. My worry however is that should this recession/depression be a big W many of these trusts will cut / suspend their dividends indefinitely until things normalize.

NRG Energy Inc (NRG) – Hybrid 3.82 / Fundamentals 4.7/5 – PEG Ratio – 0.03

“A wholesale power generation company, engaged in the ownership, development, construction & operation of power generation facilities, the transacting in & trading of fuel & transportation services, & the trading of energy, capacity & related products.”

This company looks alright as well, no yield and no ticker on the TSX though so it’s of very little interst to me.  It did however come up on my screen and I thought I’d share though.

As mentioned earlier, I have a busy day today and I”m not even sure how many people read these so I will stop with these. I’m not going ot go into length about what my gameplan is as it changes often. I will however notify you should I start sending in mad sell orders. I’m looking to distance myself from the US exchanges for a myriad of reasons well mainly one.

Yesterday I bought a few things including more DVAX and some SMTC. I’m looking to sell more than buy now as a general rule until I free up even more cash. Like I said earlier, if this recession / depression is a W… I’ll be damned if I’m one of the trapped soliders with no chopper coming to get me for months or years. It would be devastating to watch the economy go down and not have lots of firepower at my will to take down some big yielding blue chips.

Hopefully your day will be prodigiously profitable.

P.S: I posted about PRGN Shipping last night. I’m expecting it to climb into the close.