The near term fate of this market is completely dependent on the price of crude. If you’re like me, watching every tick, like some sort of box watcher, you know the market wants to go lower. Crude is just waiting for an excuse to spin higher, effectively leaving everything else crisp to a cinder.
At the same time, some energy related names are taking a breather. For me, that means FTK. Let me tell you something, right now, FTK is a fucking steal down at these levels. Should they give robust guidance, the stock will print $30 quicker than Dick Bove changes his opinion on bank stocks.
Elsewhere, I am big fan of SRS, short MER, short LEH and short FED. For some odd reason, FXP tortures “The Fly” with counter-intuitive moves. If FXP was a person, I would have punched its eyebrows off long ago.
I am bottom fishing some ethanol stocks here, specifically VSE, AVR and BIOF.
And, finally, I am a net seller of AUY. The quick move has already been made. The near term game plan is to raise cash, reevaluate the market, then get back in.
A pit stop, if you will.
NOTE: My degenerate OTB pick is LEI.
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i horsed around with AOG yesterday but exited at the open today. MXC is dead this morning, and i figure they’ll start gunning for the other chaff stocks soon.
The fly should consider a game of Pitfall on Coleco Vision to calm himself.
See you at Bilderberg.
http://www.jonesreport.com/article/05_08/21bilderberg_confirmed.html
MVIS @ 2.50
If FXP was a person, I would have punched its eyebrows off long ago.
(Poof!)
Dat is why Venalaber FXP shave eyebrow evely molning!
HAR HAR HAR HAR!!
(Poof!)
Media’s portraying “America’s Oil Crisis”?
I’m calling a fucking top on OIL! That’s right…
I always think about something before making critical decisions: “What would the Fly do?”….then proceed to make the complete opposite trade.
We will sell off tomorrow;
Note: FXP is indeed a torture; market down 200 points yesterday, shit barely move.
**GET SHORT NOW**
2nd FINAL WARNING
Its dumbass hour on CNBC, led by D Kneale, Maria Caruso Cabrerra … unreal
Speaking of degenerate OTB picks, how about MVIS on the pullback?
-DT
Hold the line on MVIS – the fly has spoken.
EF Hutton say 2.50
Jeff,
What if the Fed decides to go and sell oil futures?
http://www.ft.com/cms/s/0/07cb8b1a-275e-11dd-b7cb-000077b07658.html
Banks ask for Enron accounting to be reinstated
You, I will see you at Bilderberg
Did Dick really change his mind? I remember the day the XLF hit $28. CNBC had him on touting him like some Nostradamus.
I can’t recall the last time SRS and SKF acted inversely. Looks good for SRS.
We’re having an Oil-isn’t-going-to-$150-today, rally.
Next week we’ll get the Oil-is-going-to-$150-today, selloff.
Using the new accounting suggestion we should be able to revalue our stocks at historic prices to avoid a margin call, right?
Yo Fly – you got any more shorts like FTK?
Drys down $10 today. Didn’t Pete Najarian get long $15 ago. DRYS will eat everyone at least once.
I have won an lost big with DRYS in the last two years. Its the Greeks.
PS – BOOM is poised to run again.