Don’t Expect Santa to Bail You Out

I’m not looking for any significant move, up or down, prior to the New Year. We will likely grind lower, as traders call it a year and go fuck themselves.

Thus far, the holiday shopping season can only be described as “a fucking disaster,” with retailers giving shit away—desperate for capital.

With regards to the markets:

There are many idiots tied up in low yielding t-bills, which may begin to unwind itself in 2009. However, do not expect it to happen right away. Bubbles take a long time to pop.

With gains of more than 60% booked for the year, and bus loads of freshly minted coin going into “The Fly’s” checking accounts daily, I find little need to press the envelope here. Methodically, I’ve been selling longs and covering some shorts, in order to raise cash. My goal is to have more than 50% cash by the end of this week, in order to get a ‘clean slate’ going for 2009.

I’m a huge believer in ‘clean slates.’

Also, I will make an effort to unwind most of my inverse etf’s; because they’re bitch of a whores. Again, the CEO of Proshares is a ‘corn on the cocks’ for inventing these ‘tools of terror.’

As you can see, oil is defying the laws of reason and romance, if there is such a thing, via stabbing dollars in the eyes of oil producers. Expect the oil trade to continue on the path of ‘most pain.’ For the most part, I am pleased with DUG, short XOM, short RIG positions. However, I will be selling DUG soon, due to my inverse etf protest.

The ag sector caught some downgrades today. It’s amazing how poorly the classic ‘inflation stocks’ are behaving, post Fed cut to zero. I knew the market would fuck everyone, via marking the classic plays down. Expect that trend to continue.

Finally, bullshit biotech stocks, like MAXY and ACET, have been outperforming. Stay away from that sector, for it is a ticking time bomb that will blow your arms off when you least expect it.

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