TEKELEC [[TKLC]] just reported better than expected earnings and the stock is down 9%. They are a key player in enabling text messaging for the AT&T Inc. [[T]] (10% cust) and Deutsche Telekom AG (ADR) [[DT]] (15% cust) networks. as well as a major player in building out India’s telecom infrastructure. For the quarter, the company booked 67% gross margins and derived 61% of its orders overseas. In my book, this is an opportunity to get long.
Last week, [[ENTR]] reported better than expected earnings. Since then, the stock has been falling. Once again, I deem this to be another asshole dip buying moment.
Despite today’s market sell-off, the bears are in a very arduous position, with commercial Re and banks in the green. If I was a betting man, which I most certainly am not, I’d bet for a market reversal higher today, effectively peeling the faces off of the shorts, like goat head soup.
Energy is doing okay, with exceptional strength in natty. Look for the rally to start there, then fan out.
As for “The Fly” and his positions: I will try to maintain a 20%+ cash position, at all times, since the market is overbought. Additionally, I will be an advantageous seller and greedy as fuck buyer. Essentially, what I do here, on a daily basis, is living art, which CANNOT be replicated or reproduced. Any attempts to reproduce Le Fly’s methods will result in a stern letter from one of my attorney’s, followed up with a punch in the mustachio.
Also, I deem my returns irrelevant, at this point in time. While my gains are chockful and my wins are bountiful, there is simply no reason for Senor Tropicana to lower himself to the low-grade standards of others, via unchecked hot dogging. “The Fly” is humble in his wins and conducts himself in a way that is not only admirable, but coveted.
In short, I will be buying the dip, even if it makes me look stupid. I have big balls and a deep wallet.
Let Le games begin!
UPDATE: I sold out of my ADTRAN, Inc. [[ADTN]] position, just north of $23.45
UPDATE II: I sold out of Abercrombie & Fitch Co. [[ANF]] , north of $29.40
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All hail the asshole dip buyer.
Fly,
I really appreciated your statement from yesterday about teaching us how to fish rather than just feeding us.
What sort of “outside the box” types of research would you recommend? I’ve poured through the websites you have linked on the side, and they’re pretty good for broad-based industry research.
But, for example, how did you know FTK is some financing away from taking off? Just looking at 8-K’s?
Pedro:
The big brokers offer up a lot of research each day so it’s really a matter of pouring through that stuff.
You can also subscribe to the PPT that Fly is flogging
I agree with dip buying — using PPT’s 80%+ sell ratings as contrarian indicator.
Perhaps CSCO will be the catalyst for next move up.
Fly:
I took a look at OEH yesterday on the PPT and bought the little sucker at 9.25ish. I actually think its not a bad little bet as they have some decent resorts around the traps and with the stock market heading higher the wealthy are likely to spend a little money on a well earned holiday. The fins look fine too.
I see that “le Fly”, refreshed from a week with animal characters,is in rare form. Indeud!
Is the Fly sporting a Ted Baker blazer today, to celibrate his winship?
The Fly is wearing three Ted Baker blazers, as we speak.
The last one…. on his laigs (sic)!
________
FIG.
No really.
It’s up again today.
Holzer Holzer & Fistel, LLC is Investigating Potential Violations of Federal Securities Laws by Flotek Industries, Inc.
ATLANTA, Aug. 5, 2009 (GLOBE NEWSWIRE) — Holzer Holzer & Fistel, LLC is investigating potential violations of federal securities laws by Flotek Industries, Inc. (“Flotek” or the “Company”)(NYSE:FTK). The investigation focuses on whether a series of statements regarding Flotek’s business, its prospects and its operations were materially false and misleading at the time they were made.
If you invested in Flotek common stock between May 8, 2007 and January 23, 2008 and have questions concerning your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at [email protected], or [email protected], or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, http://www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
CONTACT: Holzer Holzer & Fistel, LLC
That would be for Danny, King of the Disclaimers.
Fly’s legal counsel.
Interestingly enough, I actually received a good sized check about a week ago for some class action suit filed against Bear Stearns about six years ago.
Holdem, Holdem, & Fistem.
Goldman Had 46 $100 Million Days in Second Quarter
“While my gains are chockful and my wins are bountiful, there is simply no reason for Senor Tropicana to lower himself to the low-grade standards of others, via unchecked hot dogging. “The Fly” is humble in his wins and conducts himself in a way that is not only admirable, but coveted.”
http://online.wsj.com/article/SB124948551533308045.html
Small change for The Fly.
ENTR ripping.
WTF is going on with AIG and CIT?
Artist…
Great Gravatar.
thanks….this is one of three I made for Fly but he didn’t want them so I didn’t want it to go to waste, so I used it.
Seriously… I stand in awe.
____
Best gravatar evah! Very clever
Artist did good.
Fly should have grabbed it.
Fly,
Feelings on CNXT? Similar to ENTR, posted better than expected earnings.
not feeling cnxt here
sold out of ADTN and making a buy
I would not want to get in the way of the CRE perpetual Polar Express. With government assistance, investment banks underwriting massive secondaries and simultaneously upgrading the stock, and S&P downgrading and then reneging and re-upgrading (back to AAA so they can get said assistance) within a week’s time span, it’s obvious that CRE is juiced, Clemens style. Probably has the teenager girlfriend too, but that is Chuck Bennett’s territory.
Look at CBL fer crap’s sakes.
_______
All CBL did was pay down their credit facility with their stock offering. The most curious number from their earnings is the YoY drop in their portfolio occupancy in non-stabilized malls (malls open less than 3 years): 89.5% to 72.2% (btw, all sectors of their portfolio are down YoY). I don’t have the time to see where they’re located and what % that accounts for their overall portfolio but I did see something written in the earnings statement about non-performing properties in China.
My point is, don’t fight CRE now if you want to keep your money.
Check out SEAC for video on demand software apps. Their server products are weak but software is doing very well. Service contracts are steady QoQ, but overall revenue is growing.
AIG is ape raping shorts, as well as GGC.
Who’s buying here? Are people like Scott Nichols opening etrade accounts and planting their life savings in hope of not falling behind?
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/03/AR2009080302958.html
“Scott got a job on a paint crew at an RV plant, and by the end of 2007 his income had climbed to $53,000, more than he had ever earned. After work he was the man at the bar with the thick roll of bills, the man he had always wanted to be, buying round after round for himself and his friends. The man with “the full pocket,” as he liked to say. He took his son on a fishing trip. He took his family out to eat and told them to order whatever they wanted.”
I guess his 15 minutes are up.
So what’s Scott going to do in a few months when unemployment runs out? I’m not sure this technology revolution fly is talking about will be of much help to Scott. However, he does watch a lot of TV and maybe he can spend one of those checks on a shiny new 46 inch LCD TV.
Next phase of the Recession-busting Plan:
Just in time for 4Q recession dip: Cash for LCD TVs.
If much of the US are like those fat losers, there’s no hope