I was going to rant about my Memorial Day experiences with asshole picture taking tourists. However, as you already know, I am the recipient of a “homo-hammer of death” this morning, thanks to the inadequacy of FTK.
Nothing in the world beats coming to work, hung over, seeing a top 10 position blown the fuck up.
Needless to say, I have not made a decision, whether to cut my losses, or average down. My knee-jerk reaction would be to sell it and get done with it. However, it is probably good for a moderate bounce here.
Early this morning, I covered my LEH short, on the BAC downgrade. Killing LEH is too mainstream now. I’ll revisit the name at higher prices.
Also, due to the bastards at FTK, I took profits in a variety of stocks/etf’s, such as SKF, NOV, short MER, short DSL, short FHN and short WM. I will keep my FED short, due to its egregiously high valuation.
With oil coming down, I suspect the bulls will attempt to hold these levels and kill a few bears.
For now, I will reduce my short exposure, raise cash, and figure out where to go long.
Developing…
NOTE: One of my lotto tickets (LEI) hit pay dirt.
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When I came to work this morning, I was hung over too. Moonshine. The shit will rot your gut and make your pecker fall off. Still, the buz is worth the gutless, dickless fun. But unlike Fly, who’s caught in FTK’s lower estimate spiderweb of death, I just look at my golden fields of grain and get that warm and fuzzy feeling. Money. Lots of phucking money. Enough to make fly one envious little phucktard insect.
It happens to all of us. You’ll hit paydirt on another one.
What do you think of WDC, Senor Tropicana?
Looks like Sidoti was right after all.
Ags are getting killed and “X” is finally down.
Is this the Fly’s top before Lehman inevitable crash, just like Bear Sterns? Einhorn is a smart dude and he makes some valid points. $6.5 billion in CDO’s, $200mil writedowns? Hah! Get the fuck out the here.
Go over Lehman’s 10-Q. Bought some puts just to play it safe…You never know;
Tough luck on FTK, at least FXP is down.
I am fucking short the materials (short STLD, SMN, DUG) like Rick Santelli on low IQ traders.
POT to $100, by year end.
sorry about FTK, fly. that’s shitty.
their management is like AOG’s: best industry to be in right now and can’t figure out how to make a buck.
i’d dump it on a bounce and hope, nightly, that they all lose their jobs in a pathetically uneventful fashion.
Not that this would have been a “tell” in time, but did you note the egrigiousity of this FTK press release?
Usually, a professional will write these things, but it appears the CEO was looking to “cut G& A costs” and had his eight year old daughter write it instead.
The CEO is old. He may decide to sell the company and put everyone out of their misery.
Oil is down to the bargain price of $130. Needless to say, BUY Retail stocks!
Wait for $125 to buy with both hands.
At $120, load the boat.
At $110, put 50% of your money in retail
When she dips below $100, start selling.
Hey, at least QTWW is ripping.
_
Fly, they’re talking about the price of meat going up. Got any plays on that? CRESY?
down with MON
Will you average down? Is this a good level to enter?