My positions shed a little more today, due to my over exposure to small caps and commodity related names. In recent weeks, the general market has corrected very little, but the internals are far worse.
All commodity related names have been God smacked, over the past 10 days, ranging from -10 to -30%. Yet, at the same time, tech stocks have held up well.
Part of my recent frustrations stems from the fact that I’ve been exactly right, regarding the tech run, but no longer own the names worth owning, if you know what I mean. I took profits in Dell Inc. [[DELL]] , Atheros Communications, Inc. [[ATHR]] , Cavium Networks, Inc. [[CAVM]] , Starent Networks Corp. [[STAR]] , RF Micro Devices, Inc. [[RFMD]] , [[SPIL]] , Teradyne, Inc. [[TER]] , Amkor Technology, Inc. [[AMKR]] , Advanced Semiconductor Engineering (ADR) [[ASX]] , Ciena Corporation [[CIEN]] , Brocade Communications Systems, Inc. [[BRCD]] and Aruba Networks, Inc. [[ARUN]] , and now find myself saddled with shit.
Well, shit is a relative term. However, it’s worth noting, I’d prefer owning the stocks mentioned above, my sales, than the ones I have now: Flotek Industries, Inc. [[FTK]] , Trident Microsystems, Inc. [[TRID]] , [[ENTR]] , Sify Technologies Limited [[SIFY]] etc.
I knew something like this (get stuck with shit) could happen; it always does towards the tail end of a monster rally. However, I am not stupid and consider all of the crappy positions to be of little consequence, with exception to FTK. Most of my small cappers are less than 5% of my holdings. In recent weeks, I’ve been bulking up on [[UNG]] , Corning Incorporated [[GLW]] , OmniVision Technologies, Inc. [[OVTI]] and GameStop Corp. [[GME]] . Additionally, at the close of trading today, I was in possession of a 13% cash position.
In short, I am doing just fine, but need to get my mojo going again.
For those of you who address “The Fly” in a derogatory manner, calling me “cow” or other childish names; quit doing so immediately. I am your superior being, with a genetic makeup much finer than yours. Don’t get haughty with me, fucker. Most of the time you think like a fucking monkey, always FAZZING yourself into egregious cocksucking situations.
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Ahh The FLY, always around the “cow” dung. Your literary prose is pathetic. Stop with the redundency of such SAT words in an “egregious” fashion. PUHHHLEEEZZ.
SOLD THE CREAM AND KEPT THE SHIT THATS FOR SURE BY THE LISTS ABOVE.
Me thinks something is afoot for next week. A hard rain a commin……
DD
i do hate you, no doubt. But, I still would like you to blog on Monday’s. Why give up? It’s sort of ironic that the guy who dishes out so much is unable to handle the pressure of an audience.
Odd, No?
I challenge you to continue.
DD,
I agree with Fly, for once, that you should continue blogging on Mondays.
I know that there’s only so many ways to say SPX is going down to 150, but it bears repeating, pun intended.
Fuck Devildog. His problem is that he can’t handle being spec-fucking-tacularily wrong AND he’s furious that people are making money despite his rants. This guy has no rigor at all and is no different than all the other fucking doomsayers out there. Yes, the sun may go out tomorrow but it’s a low probability bet. And if you bet that way and are wrong, then what. A one trick pony this tool is.
Have a nice weekend, douchebag.
UNG is a dog that is raped each month by GS and its ilk on rollover of futures contracts. New lows coming.
DEVIL_DOG
Grade 5 was tough. wasn’t it?
redundency -> redundancy
I can dish it out and take it too, and I know how to write in DD fashion. Oh please let scummy be the monday morning atbbed blogger. All you f@ckers won’t be sorry bitchez!
New lows by July 4th bitchez!
Fly,
Did you get my email a few days ago? subject – Flyvestor
GBP/USD long, worked well
USD/CAD short
+12%
and I also have $UNG….long “In it to Win it”
Energy Greed will prevail
When it goes lower on a dip
BUY it
or stay broke and whine
A dog you know?
http://media.photobucket.com/image/toilet%20dog/CathyRD81/dogintoilet.jpg?o=13
Fly,
An added attraction to this site,one you may not have considered; this place is great therapy. I find a lot of people have the same doubts and misgivings and make the same mistakes that I have made, some I have corrected,others I am still working on. It’s like a 12 step program, if you get my drift.
great read on the UNG etf:
http://www.djnewsplus.com/article_ss/SB124508042513596202.html?param=ef
A Modern Promise – http://www.youtube.com/watch?v=us9GDY5fa6A
My largest option pisition ever is almost complete. Will finish Monday.
$1M puts on EDC and TYH
$1M puts on FAS
$1M puts on SSRI and AU
$1M CALLS on UNG
All the options expire between Sep and Nov 09 exept for UNG calls…Mostly Jan 11
Betting against John Paulson?
Ballsy.
And “brainy.”
__
Coming soon, a post from Joe on how to blow up your account.
Joe, if you don’t mind, log into the Peanut Gallery and put up a post with your option positions. That way it will make it easier for us all to track what happens. Also, consider adding your avg. strikes with expirations.
I gotta admit, I’m really curious.
glad you are waking up to reality fly
Joe you may make a lot of $$ good luck
Devildog….
I have little respect for you as a human being. I will have even less respect for you as a mammal if you stop blogging on Mondays. Stop being a fucking coward, you big over-sized pussy.
Look, you big Mary, if it means so much to you I won’t comment on your blog pieces anymore. Does that stop you crying , you pussified crybaby.
that’s the deal… Start blogging and in fact I won’t ever mention your pathetic name again.
If you don’t blog I will be absoltuely relentless with you and make you cry.
That a deal?
In fact I won’t ever mention your FAZ again, Dog except this one time.
SAT numeric quiz
This number series represents:
18,16,14,12,10,8, 6, 4,….
a) subtraction by 2
b) addition by 2
c) Dog’s worthless FAZ position
d) None of the above.
Answer C
DEVILDOG,
If you blog on Mondays, j will invite you to join him with his 2 dudes at the “tit bar” (sic). If things go well, he might even invite you to create a video with him called “3 dudes 1 jar”. Now c’mon…thats an offer you can hardly refuse. Think about it.
Joe
All this discussion of golden crosses and such…
Makin’ me think…
An elephant-cock sized order against the “Fast Money trading desk” might be in short order..
P.S. – We love DEVILDOG MONDAYS! (even though he’s too old to post here, haha)
I like the game: “Make Up a Bullshit Position” much better.
It’s a shame how it always morphs into “Never heard from Again,” though.
______
looks like the dd dude is going to pre-empt his unceremonious firing pre-fireing. so sorry if i tipped him off to his uselessness. there will be yet another punching bag to emerge for your amusement in no time. fret not.
Joe;
Get shoe elevators. You could put on a couple of inches and no one would know.
I think DD does a great job.
He has opinions which he is comfortable with and is confident enough to share. These opinnions reflect in his trades.
From memory, he bought FAZ in the “3.40’s” and as of friday has made an approximate 8.0% return. If he closed out last wednesday, he would have made approx. 14%. My bet is he will go long and aim for a 25%+ return.
Web-sites like this thrive as an exchange of ideas. Ideas only ferment when both sides of the arguement are carefully considered.
If the best that some of you have to offer this site is psychophantic arse-licking, go join a hoodie gang. Some of the best traders are contrarians and independent-in-thought and I would bet that DD knows what he is doing and making far more coin than most of you.
In declaring my position, I bought SDS at $53 and will sell at $60 next week during the Fed treasury sales. I may do better. I am long physical metals, I am watching to go long UNG. I also went long USD on Friday.
“DD support”
RE: Long USD
We are nearing a top, yes maybe get 1.15 briefly
after that its a possible mudslide
ONLY MY OPINION
Good pipping to you Sir
I’ll keep watch on GBP/USD….after next dip, I’m thinking 1.6870*
Too many ‘what ifs’ U.S.D. re: spending<—seriously…where will it stop?
No Pain
No Gain
No doubt I’m completely wrong, follow me to a new house of cardboard
DD Supporter:
Who is actually telling the Dog not to voice his opinion? No one really is and in fact even people like me who consider his views about equal to 911 Truthers and the Unabomber’s have suggested he speak up. Furthermore if there has been one nimrod that has tried his best to stifle opinion through unchecked criticism and unsophisticated redneck like put downs it’s him.
I turned on the dog when he started to make fun of people who had losing positions. In fact it was only the other day when he wished death on me simply because I was bullish. That’s right, he hoped I would die!
If the best that some of you have to offer this site is psychophantic arse-licking, go join a hoodie gang.
Exactly right.
Some of the best traders are contrarians and independent-in-thought and I would bet that DD knows what he is doing and making far more coin than most of you.
And your point is what that the Dog fits this category? Are you injecting heroin or smoking crack therefore making you delusional? The Dog doesn’t offer that sort of opinion. He offers Unabomber screed made to look like opinion. It’s about as worthwhile as a rat soaked in gasoline with a lit match heading its way.
Having said all that, the Dog can offer any opinion he likes on Mondays and I won’t ever interfere with his lunacy again seeing he was bawling like a big baby the other day. I don’t like making gals cry.
LOL!
What a bunch of ugly, puffed up play-ground pussies.
Do you guys ever do much trading & planning over here – or – is sittin’ & bitchin’ about the scope of the collective contributions.
http://www.masterwaki.com/wp-content/uploads/2008/09/kids-fighting.jpg
Pfft.
This Golf shit is kick-ass! I’m gonna get me a big tent next year for the Players Club. Lots of rich cats come to this. I’ve already raised a couple million for my brand new Nutritional And Weight Loss Supplements business….Fly you want in Brobama!
GE is taking a green shoot shit on the “V” shaped reoovery nonsense.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ayc5BDPO_GGs
First, there’s another Joe posting here. I am not the Joe arguing with J. I think J is filth and I wouldn’t spend my time arguing with him. Anyone can tell that the “other” Joe’s english is much better than mine. Something I am not proud of but english is my fourth language and writing, even in my “mother tongue”, has always been a problem for me…that’s my scapegoat.
Woody; I am not going to take my time to post the details my positions, I will not have the time nor the desire to post when I get out of them, I am not making recommendations for anyone tofollow and don’t really care whether this makes any sense to anyone. It may not make sense to you but, generaly, ther reason for doing a large optons positin at this tme is that I am VERY dissapointed with my performance this year. I am up 9% in 09 and I was much more three months ago. In a crazy way, I can relax better when I have an option play than chasing large stock positions and watching every tick, micromanaging it with options…Too consuming…I’d like to be a good father to my three kids as well.
It is what I can afford to lose and since I see it as such, I can enjoy the summer doing other things other than being mesmerized by every tick on the monitor. My intent right now is to forget about them if I can and make decisions in late August.
I watch my tally today of what I spent last week and what I will spend on Mon-Tuesday and I am running about 10% more than I had originaly planned, so be it.
Cuervos; I don’t want to tell you what % of my account this play is but I assure you, its not an irrational gamble relative to my account and losing all wouldn’t in anyway impact the way I live other than I would be really pissed off for ego reasons.
DDOG; You have good ideas but stop believing in SP 150. It ain’t gonna happen. The sooner you adopt that thought in your head, the faster your ideas start making sense.
GLTA
Tired of the rain? Hit the theatres and see The Hangover. Funniest guy-oriented movie I have seen in many years.
A big thanks to JakeGint for all his participation on the PPT notes board!!
No safe haven on any one stock right now. Need to look ahead 6 months. We will be out of a recession and the demand for things that keep this world running will be needed. Sure we have had run up in pcu ir and they will run up again…This is called a pull back. Media is trying to feed us the fear factor.
Joe says:
First, there’s another Joe posting here. I am not the Joe arguing with J. I think J is filth and I wouldn’t spend my time arguing with him
You dickhead, you’ve been the one insinuating I’m gay for days on end. You insanely suggested I’m gay ( I’m not, but as though it matters) for linking to a story about bay area real estate having risen a little, you homophobic dickhead.
Your real gripe seems to be that I made some silly joke about short people and that has got you upset. Grow up ( pun intended) or fuck off and go buy yourself a pair of stiletto’s to make yourself appear taller.
I’m not filth, you are, shorty.
DDOG; You have good ideas but stop believing in SP 150. It ain’t gonna happen. The sooner you adopt that thought in your head, the faster your ideas start making sense.
No he doesn’t. He’s got shit ideas and the recent example of the idiot bringing up a 200 year chart of the stock market as somehow being predictive for the next few years is a good example of what I mean. That’s ridiculous. Telling people all the time that the government apparatus is corrupt is the shit you get from truther sites.
That’s not analysis, that’s the insane meanderings of a mental case, which proves you have no fucking idea what you’re talking about or can add value.
Grow up or fuck off.
Elditto-
Thank you and you’re most welcome.
I’d like to point out here that I am just a minor player on the PPT front, and that there are many big brained experienced traders there who seldom- if ever- show their heads here at all.
The “Notes,” as a result, have proven invaluable.
__
For those I offended with that short jibe… I’m sorry. It wasn’t iuntended to be that way.
this comment thread is a perfect example of why I spend most of my time @ PPT
What is “PPT”?
This wandering thread of pointless opinion is exactly why I don’t use this site at all (with the exception of the occassional look-in)…
Wait til The Fly gets home. You’re all in a lot of trouble.
you guys are donkeys. DD is the Fly. I give mad respect to the fly, cause he knows you donkeys need a villain(like a group that needs a outcast).
Prepare for possible superspike, long DXO. If oil spikes like I think it may say goodbye to your fucking bull market.
you guys are donkeys. DD is the Fly. I give mad respect to the fly, cause he knows you donkeys need a villain(like a group that needs a outcast
Bull. the fly wouldn’t be stupid to average down FAZ from 18 bucks all the way to 3 bucks and then have attitude problems.
No, DD is a freaking whacked up moron that wants to be taken seriously about dumb things and gets angry when people laugh at his insanity.
Gaps — what makes you think there’s a “superspike” coming?
And when you say “goodbye to your bull market” I assume you mean goodbye to everything not earl or energy related?
______
Quiet Storm — in case you were not just kidding, let me assure you that Fly can’t do “dumbass” with the facility you allege.
_________
For JUICE-
http://marketsci.wordpress.com/2009/06/20/testing-the-rare-downtrending-golden-cross/
Juice, leave me a comment on my blog if you read this. I want to make sure you see it.
Wood — too funny, I was just going to post this on your blog, but I found it on Green Faucet… (which is an aggregator, I guess?):
http://www.greenfaucet.com/blogs-specific-pages/traders-talk/04215#article-8886
____
who’s buying ung? Can you say hedge fund mgrs.
The FLY will win again i have a feeling. semis and commodities related stocks to lead the charge!