I have been buying 250 share lots of National-Oilwell Varco, Inc. [[NOV]] and The Mosaic Company [[MOS]] , like a hypnotized inflation hawk. While it’s true, inflation is virtually non existent, commodity stocks are still cheap. These fuckers will bounce all around, before dying—just like the dot coms, circa 2001.
My position in Citigroup Inc. [[C]] is sucking wind, but that’s okay. I am long from the 13’s and view it as a long term hold, sort of a proxy for the distressed banking system.
With reference to my top 10 positions, some of those positions are not very big, considering my cash position is around 28%. The only meaningful positions are The Mosaic Company [[MOS]] , National-Oilwell Varco, Inc. [[NOV]] and [[UYG]] .
With regards to Apple Inc. [[AAPL]] :
Investors are thinking AAPL will RIMM itself to death tonight. However, I believe those people are idiots and do not realize the tenacity and nazi-like management skills of “Skinny Steve.” I’m holding my AAPL through earnings.
All in all, today’s pullback is healthy, providing the losses remain under 3%. I’m not a fucking perma-bull. I’m more like a temporary bull, with a keen interest in kicking old bearshitters down idle elevator shafts, while guzzling down a few liters of Monster Energy soda.
Top picks: National-Oilwell Varco, Inc. [[NOV]] , The Mosaic Company [[MOS]] , [[UYG]]
UPDATE: I bought 5,000 Arch Coal, Inc. [[ACI]] @ $25.32, 2,000 [[NOV]] @ $30.15 and 2,000 [[MOS]] @ $37.20
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Paulson mere presence just bottle rocketed the market up 100.
Overall, market action today is pretty positive. Provided we don’t shit the shower going into the close, adding to long positions here makes sense. Financials are holding up which is a plus since weak financials have led the market lower. TED spread continues to drop.
does anyone have any news on the Lehman CDS?
ROM – you out?
I’m with you on all that.
The light came on when I realized that “risk is cheap”.
I am viagra for the market.
Sing it with me now — “Viva Hank Paulson!”
Fly- doesn’t TI supply parts for Apple products? With RIMM and TXN’s recent results, isn’t that an indication that AAPL could report weaker results? Not even Skinny Steve is exempt from this economy.
Khan:
AAPL probably stole more PC market share. Quite frankly, I could care less what happens to the stock. If it goes to $60, I will buy more.
Anybody buying RIMM at these levels?
You recently posted that MVIS “is so 2006”. You had also said that MVIS was a buy below $2.30 after the last round of financing. Are shares dirt cheap here or is the company a “gonner”? Thanks.
if apple goes to 60..i will put all the money i have in this stock…i hope it goes there..probably wont, most likely will double because i know the market just loves to fuck w/ me..
What happened to Citi and GM going bankrupt..gotta point it out….your on tilt brother.
Lately..the Fly looses even when he appears to be loosing
fly,
Are you equating energy stocks with dot-coms circa 2001 — I.e. — a burst bubble destined to go much lower?
Or do you think energy and commodites are still in a long-term uptrendthat will continue after this bout of deflation?
Sorry…this bitch is going to much lower into the close
Marty Chenard column noting a slowing trend of institutional distribution:
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm
Ducati hater:
Oh, I don’t know. Maybe it has something to do with all the free money the Treasury is giving to the banks.
Idiot. Wake the fuck up.
Speed:
For now, I am equating this bubble burst, just like all others. However, since Energy is something we need, there is always a chance that they are not destined for the graveyard.
I’m just playing bounces.
You know as well as I that the dipshits at Citi will fuck it up. I feel like Tim Knight..the end is upon us!
Mr. Market. You are going to break 9500 before you break 9000. Book it.
Tim Knight is the investor equivalent of a school girl with an affinity for rulers.
Posted today’s buys above.
Energy Bubble Yes… but this difference this time is that it’s tied to something real, and eventually demand with outpace supply.
My agent never told me he sold you the rights to publish my photo.
I am off, to strangle him with a rusty strand of barbed wire.
OXY frogmarching.
Get ye some.
“Be one” with fatass God of Green, Al Gore.
_________
My mandate is to take the DOW below 9000 today.
I thinks The Fly & Tim Knight are sort of in love with each other. From afar …… very, a———far.
I once saw Steve Jobs goose-step into Apple headquaters. True story.
Bennet Sedacca
12:47:50 PM
No positions in stocks mentioned.
More on stuff I don’t wanna do…
National City (NCC) debt trades around 50 cents on the dollar, or a yield in many cases 20% or so.
And to be perfectly frank, I wouldn’t touch it with a 10 foot pole. The company’s preferred shares trade in the 15+% range.
Yet it stated that it ‘we don’t need capital’ and in the next breath said ‘ we are considering using the TARP plan’. Which means I give NCC money at 5%, when I wouldn’t ordinarily lend at 20%.
Ripping higher tic tic tic