I have an interesting situation on my hands here, with my largest position Flotek Industries, Inc. [[FTK]] getting its cock blow torched. Just to be clear, FTK is my largest position, only because I sold everything else. In the big scheme of things, it’s only 5-8% of tradeable assets. Thanks to FTK’s 20% swan dive, I find myself down more than 5%, intra-day. Additionally, I do not believe the market will stop going lower here. In addition to that, I have been holding numerous positions that did not take off during the recent run. Pay attention Ladies, I am about to school you.
Because these positions were neutral to weak in a bull market, I know those fuckers will get “mushroom clouded” in a bad one. As a result of today’s black swan event, I am cleaning house—raising my cash levels to greater than 60%. The cash will not be held for more than a few days. I just need some time to figure out my next moves/set of positions.
I sold out of the following:
Chipotle Mexican Grill, Inc. [[CMG]] , Advanced Micro Devices, Inc. [[AMD]] , Brocade Communications Systems, Inc. [[BRCD]] , Ceragon Networks Ltd. [[CRNT]] and ON Semiconductor Corp. [[ONNN]] .
For now, I will hold the balance of my Huntington Bancshares Incorporated [[HBAN]] , TeleCommunication Systems, Inc. [[TSYS]] , American Capital Ltd. [[ACAS]] , [[UNG]] , TEKELEC [[TKLC]] , Flotek Industries, Inc. [[FTK]], Level 3 Communications, Inc. [[LVLT]] and [[ENTR]] positions.
NOTE: iBankCoin has a special guest blogger en route. Developing….
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fig sucks
your mother is a goat.
she’s not, im just tired of those fuckers constantly commenting about it
How about LVLT?
still in. forget to mention
odd that legging into shorts friday and yesterday was admonished by the dennis gay only bull types who seem to now permeate this blog….carry on bullshitters..as your longs continue to erode and trap your dumb ass after an historical-perhaps biblical run in equity prices over the last 3 months…2pm tee time.,,good luck to all…, well most,,,ok some.
you wan’t biblical? wait till the big boys get back from the hamptons and turn shorts inside out lol.
What about MVIS? Did you sell this? If so, when? I have a tight stop loss order but think/hope they should hold $3.30.
sell
We had a black swan event today??
I must’ve been asleep…
my largest position is down 20%+
Thats not a Black Swan event for FTK,, it s a normal flushing ..more like a Black Turd event..and just so you know I speak with empathy..owned that fucker 3 times lost twice
..
@ Cash-N-Guns..you re correct .. been all cash except Day and fast swing trades and a managable number of those
I love the way you took it in the ass on AMD. For surely you are not GOD.
your mother has hairy balls
Yes, but as you very well know they are much more hairy than mine [what I’m saying you stupid fucking simpletons (95% of IBC readers) is that La Fly sucks my cock on demand, like Comcast cable only faster].
he sold at basically break even, Gay hat. Go take a look at his buys The only one that takes it up the rear end is you.
I lv the spirit Fly!! School us dude
FTK is draining my treasury!
ROFL.
We get some smart, funny fuckers on this blog, no doubt. How many financial blog readers take in some Gibbon in their spare time?
_______
My captain
I am in your boat in my heart and soul. your legendary style trading amazed me and i am looking forward to you. I am PPT member. I think if everyone follow your style they wii be more gainer. thanks hasan
The Fly rocks even when the market rolls.
http://www.youtube.com/watch?v=vOpnOclSWNg
Isnt the pain trade to stay long right now? Everyone is looking for the correction.
There is no correction, only Zeul.
Our overlords and trade bot masters will make sure of it.
Holy SHIT!
“There is no correction only Zeul!”*
Holy fucking shit that is the BEST COMMENT OF 2009!
Omigod am I jealous.
Massive kudos.
______
*(I am not kidding you when I say that this quote and the myriad variations of “These are not the droids you are looking for” may very well be THE most quoted movie lines of my late high school and college career. Holy crap what a call.)
___________
Thanks. Caligula warmed you up for me.
I kind of liked my farmer comment over at your blog.
You sure comment a lot for a guy on vaca.
I have Bluetueth (sic).
_______
I have been raving about “There is no correction only Zul” all afternoon and evening.
Holy crap.
______
Found it:
Around 3:50 of this clip — There is no Dana, only Zul!”
im buying FTK here.. @1.77
Have to chuckle at the Obama Town Hall meeting going on.
The people behind Obama just couldn’t stop clapping.
It wouldn’t be staged would it?
tradder, how’s the weather? I’ll be landing in Sanford/Orlando tomorrow.
how’s the fishing as of late?
The weather has been the usual 93 for highs and 70-72 at night.
It hasn’t rained in four days or so here in Orlando but one never knows when the afternoon rains will hit.
The news says the bass are jumping in The St. Johns River but it doesn’t say anything about near St. Augustine or Ormand Bch or offshore.
Give a wave when you pass the Lake Mary exit.
And by the way good luck on the Allegiant Air lotto (if they have one on your flight).
TraderCaddy:
I see you got FAZ’d by the cops.
http://www.clickorlando.com/news/20352110/detail.html
I have already written the letter of apology and my community service will be picking up the popcorn on the street (Main Street) in the Magic Kingdom.
Seriously though, didn’t this groping happen when Fly was at Disney?
Coincidence? Or Not?
That FTK is a real albatross. Time to cut your losses and get the fuck out?
Kinda like WFC was for me last year although I did get a chance to get out without getting my balls cut off too much.
Looking to short more puts so more of this sell off is indeed welcome.
The sudden rash of bears coming out of the woodwork coupled with PPT scores of only 11% buys has me leaning heavily on the long side again. Bring it on bears…
I bid 1.25 for your whole FTK brick
My BVX is enjoying a nice ride today. You ass monkeys should try buying better companies so you don’t have to clean fucking house every time the market ticks down. Today i bask in it while you fuckers clean the elephant shit off my Alligator skins.
“special guest blogger”, is it Ted Allen the gay chef from Queer Eye?
no, it’s Jim Cramer.
He will tell you people all the best stocks to BUY right now and HOLD them forever. (or until he tells you to dump them after a 88% loss)
Uncle Howard wrote today that:
“the_real_fly [name] is Sylvio and he is 4 feet 11 inches”
True?
Ridiculous irony.
“Silvio” is “John Smith” compared to Fly’s real name.
He is a veritable Rumpel Fuggin’ Stiltskin.
________
The Fly is a saint compared to that goblin.
FTK will see $2.60 a share by end of September. I will eat it until I see $2.60. This month might suck more balls for FTK but it will be back and will make money on it.
What are your thoughts on GRT ?