I promise you the market will swan dive into an empty pool, filled with rat traps, sometime soon. However, in the event some of you enjoy buying into lunacy, I have a few long ideas.
Contrary to popular belief, “The Fly” does have some long positions.
My favorite financial is [[AIZ]]. These pencil pushers sell home insurance, amongst other things, to banks taking possession of foreclosed homes. In this environment, you have to love that business. I’m long from the low 60’s.
In tech, I am long [[AAPL]]. That’s it. I had a monster position in [[RIMM]], but sold it out last quarter. I do not believe there is much upside to AAPL, at these levels. Nonetheless, I will not sell it, since it’s the last great American hope.
A la Cajun, I am long [[GU]]—just because he’s been “space alien-like” with his picks.
In consumer staples, I like [[WBD]]. It’s a Russian dairy company, who phonetically named the company after a tennis tournament. Nonetheless, they are buzzing along. I am a big believer in the theory that says to go long beverage companies, when a country’s standard of living is raised. When indigenous get a few pesos in their pocket, they buy soda, milk, etc. There is a lot of data to support this theory. Go look it up.
At these levels, by the way, I am tempted to start buying [[HANS]] again.
At the moment, I am not long any retail names. I sold [[GME]] two months ago. However, I am looking for entry points into [[ZUMZ]], [[BEBE]], [[AEO]] and [[JCG]].
Within energy, I am long [[UPL]] and [[VLO]]. I love the growth of UPL and the cheapness of VLO. Should basic material expenses subside and prices of oil stabilize, VLO and other refiners will start to rip, once again. If it’s going to happen, it will happen during the summer.
In the drug sector, I am long [[GILD]]. They are the only viable play on Aids, terrible but true. Frankly, I hate the drug sector, but have kept this one because of my ridiculously low cost basis.
I am not long any internet companies, aside from iBankCoin. However, it’s worth mentioning, I am short [[TSCM]].
Finally, I sold out most of my gold holdings. I believe gold will moderate here. Furthermore, I have better places to invest the money. Going forward, the earnings will dictate the direction of the markets, not CNBC breaking news alerts or internet rumors.
Three earnings plays to watch very closely, coming up, are [[AAPL]], [[VMW]] and [[RACK]].
On a pullback, I want to buy [[VMI]], and Vestas Wind Systems.
NOTE: “The Fly” is also long Vestas.
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Great post, thanks for putting it together.
After reading today that Kass put on the same trade I did on Friday I feel pretty confident in the long run. This run up is just a trap.
Also, I still can’t believe you sold your GD 🙁
Fly did you get rid of your SKF yet?
Hello? Hello? Fly? Jake? Calvino? Bueller? Anybody home?
It’s rubles, not pesos, comrade – and their “coke cola light” is much better than the flat, metallic goat piss sold under that name here.