Masterpiece Theatre

According to the Fed minutes, times are tough. As a result, this mornings rally has dissipated into the closet of Merlin “The Bull Killer.”

Let me explain my strategy:

I am buying low priced outliers, while shorting main stream banks, semiconductors, crude and REIT’s. Best case scenario, my little off radar stocks will hold value, while the market plummets. Or, if the market rips higher, my small cappers will zoom higher, effectively canceling out losses in my shorts. My overall bias is to be short. But, I will use all available cash (12%) in order to catch some swing trades, if needed.

Into rips, I will sell some longs. Conversely, into dips, I will take profits on my shorts.

Let me make this perfectly clear: there is no scenario, barring a positive GDP, that will make me bullish in 2009. My default will always be to short stocks. However, I am not stupid and do not like being on the receiving end of a short squeeze. I will get long when needed.

Understand something, “The Fly” roams around his office, decked out in white robes and sandals aka “the wardrobe of the Gods”; he is creating “art,” not portfolios, on a daily basis—for the sake of humanity aka “the people who are lucky enough to know him.” Whatever the fuck you are doing, I am not. My buys and sells are done, methodically, in order to create a pastiche of harmony, all done in a very dignified, honorable manner.

Into the bell, I will be long [[PKD]], [[TER]], [[AMKR]], [[EZCH]], [[CIEN]], [[TLT]], [[ISIL]], [[STAR]], [[GU]], [[WRI]] [[SRS]], [[FAZ]], [[SCO]] and [[SSG]] and short [[ACC]]

I am winning, yet again!

UPDATE: I sold out of my WRI position @ $11.75.

UPDATE II: I sold out of my ISIL position, north of $12.90.

UPDATE III: I bought 2,000 ERX @ $25.05.