The market closed strong, as the asshole dip buyer put some money to work—late in the day. For a bounce, I bought some [[WB]]. Let’s see if it sticks.
All in all, “The Fly” is becoming increasingly bearish. However, he does have a multitude of long positions that may need to be clipped, in the event of a full fledged market retreat.
I’ve done well with “The Bank of Cocaine” aka [[BAP]]. However, it may be time to take some profits.
It appears the U.K. is starting to “enjoy” a housing crisis of their own. I wonder what the ramifications will be? Perhaps higher equities?
I think not.
For the time being, the energy trade is still intact. Some of my positions include: [[ARD]], [[FTK]], [[NOV]], [[RIG]], [[PCZ]] and [[PZE]]. They all look good.
Expect tough times ahead. If you have bountiful gains, consider taking them, prior to smoking a large cuban cigar, with a large serving of aged Portuguese Port.
In short, “The Fly” is in control of an egregious time machine. Let’s see if the bulls will fight back tomorrow.
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Options available on GLD starting June 3. (PHLX)
Mr. Fly:
Besides aged Portuguese Port, what other alcoholic remedies are on the “Official Fly Wine List”?
Alis:BPOE
Fuck Starbucks. In order to save gas I bought a KEURIG coffee maker. They have great names for trading. Today I had Cowboy coffee by the coffee poeple. Great for Wild Wild West trading. I started to get the urge to put on a cowboy hat get drunk and buy stocks!!!
Portughese Port?
Is that like Swiss swiss?
Larry, just curious….what does BPOE mean?
Anybody venture a guess?
You know what’s not a bad “drinking all weekend” wine?
Liberty School Cabernet, from the people who make Caymus, for about one seventh the price.
Energy is going to flop over soon…
Not sure why you’re bearish. Financials suck – you are correct. But energy only went up due to bitch-ass financials making the dollar weak.
As soon as this dumb shit is buried again, energy is going to do a full belly-flop and then the hedgies will rotate out into:
Here you’ll have to make an educated guess.
I say tech and healthcare will get some of that money. Even retail gets a piece. And China stocks go up.
Refiners going ballistic are calling a top in oil.
And you’ve got to look smaller cap now. AAPL, RIMM won’t be leading the way — too crowded.
Biggest Pig On Earth. He used to write it all the way out.
No clue why he puts in every post. Maybe a tic, like “jog.”
Larry — do you have a link to “Cowboy coffee?” I used to know a guy in the coffee bidness who went by that moniker (in reverse).
Alias:BPOE
Biggest Pig On Earth!
Alias: BPOE
Not for nittin:
You can order coffee from keurig.com. Cowboy coffee is from coffee people.
Mother market, thanks.
You Give Me Something
Fly, can you recommend a nice French Champagne?
douche-
refiners reversed because they got “upgraded”.
refiners got “upgraded” because the big boys have established their positions, at the lows.
hence, the big boys will sell into the ensuing strength, leaving retail (you) holding the bag.
if TSO loses $ in Q1 when oil averaged $110, how well do you think they are going to do this Q?
// edit: removed the condescending closing line.
Fly, can you recommend a nice French Champagne?
Lol.
Maybe he’s got a line on some Scottish scotch, too.
I could use a rec on that, and on Kentucky bourbon, too.
“Rich man’s only,” s’il vous plait.
_
Q4 —
don’t think we don’t notice when you slip your own vids in the queue.
Jake,
that’s mean. lol.
french cognac
spanish sherry
I was being sarcastic, people.
Steve,
I, for one, got it. I was just adding to the list.
_
Jake:
I’m famous.
Null are you short TSO? I have been long the name for some time with a cost at 25. I think it has plenty of room to run, its barely off its lows.
Its not just the crack spread anymore, its about infrastructure and not allowing anymore to be built. If oil ticks to 100 TSO will rip to 40.
gapping – that bit about “not allowing anymore [refineries] to be built” is a very small part of the story about U.S. refining capacity.
I’ll turn you over to the introductory paragraph of a 2007 white paper by Jeff Hazle, Technical Director, National Petrochemical and Refiners Association:
Investment in U.S. refining capacity has fluctuated significantly over the past 40 years due to the effects of government policies and market forces. The federal crude oil allocation and price control system that was in effect in the 1970’s stimulated investment in capacity until, in 1981, there were 324 refineries with a total U.S. refining capacity of 18.6 million barrels per day which were collectively operating at less than 70% of capacity. However, the U.S. abandoned those controls in 1981 and allowed market forces to take over which quickly forced the closure of the most inefficient and unsophisticated refineries. Since 1981, 175 refineries have closed leaving the U.S. with 149 refineries with a total U.S. refining capacity of 17.3 million barrels per day and a collective capacity usage greater than 90%. The refining industry’s capacity reached its nadir in 1994, but since then has seen increasing capacity and throughput fueled by billions of dollars in new investment. Since 2000, the pace of refinery capacity investments has increased and has now reached a point where investments are being constrained by a lack of resources (manpower and materials) rather than will.
I like Liberty School Cab. I have a bunch of cheapies I will post ala Gunners.
“The Fly” has left the building ……I hope that he maintains moderation with the alcohol because too much is not compatible with “banking coin”.
Buy SRS, help this bullshit market correct so we can get long again.
hey boomer, your stock “BOOM” is a POS right now. Short it!
CDs – your chart is upside down. I’m up about 30% in that holding. It also tested and then closed above the 50 day MA today.
I throw a meatball at you.
To whomever was said LULU was gonna die on earnings this evening; very nice call.
re LULU i believe that was Calvino
Why Bernake Can’t Lose (or why he thinks he can’t):
This is awesome, from the actual rules of the Parker Brothers’ Monopoly board game.
_
Hey Fly do you have a “Green Friendly” house? Or should I say did you pay twice as much as the shit is worth to feel better about living there?
I think I am going to start selling green friendly water. I mean fuck why can’t I just bottle my fucking tap water, call the shit green friendly and then sell it to fucking gullible people.
Anyone want to back me? My plan is to use the cheapest most polluted fucking plastic shit available that of course “Looks Green” so you can rest assured your money will not be wasted.
By the way if you feel like taking a time out from turning yourself into a fucking green pussy take a look at the History Channel (8-10 cst), pretty good show on expert marksmen.