Onyx: Slam Harder

[youtube:http://www.youtube.com/watch?v=OT1pwrscRu4 616 500]

[youtube:http://www.youtube.com/watch?v=-aJROW6cuEM 616 500]

This is a pretty straight forward process. If you run money and need to window dress your brochures, you will lap dog your way into tomorrow, being the proud owner of the “bestest stocks” in the world. Hell, even if you missed the recent run, don’t worry, you can buy now and just make believe you were smart and shit, despite your lackluster results. People will look at your holdings and marvel: “wow, that guy is a great manager.”

Stocks like Baidu.com, Inc. (ADR) [[BIDU]] , Google Inc. [[GOOG]] , Fuqi International, Inc. [[FUQI]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] will be bought, while asshole stocks like Flotek Industries, Inc. [[FTK]] are sort of tossed to the side, as if it were garbagio. However, this type of positioning often leads to great buying opportunities, especially in names that were sold en masse. What’s important to remember, in general, if the market is truly in recovery mode, most stocks will trade higher, not just the who’s who of Joe Mutual Fund’s holdings.

Naturally, there are many skeptics, who refuse to acknowledge the slightest improvements in the economy. These people believe the market will hit new lows, effectively ripping the country out from within, sending you into government controlled “food camps,” where the O’bama administration could control your daily caloric intake. Keep in mind, I really do not give a fuck, either way. As a matter of fact, I prefer to make money on the short side, since it’s easier. When stocks go down, everything knifes lower. It’s like taking candy away from an armless Madoff.

In closing, the trend is up, why fight it?

If you notice, a lot of small cap names that were flying higher, into the rebalancing of the Russell on Friday, are now nosediving. Consider it a wash and move on. What’s important to note is the resilient price of crude, stubbornly sustaining $70+ per barrel. In my opinion, today’s market strength is screaming “fresh leg higher” for indices and demand your attention.

I know it’s slow, summer, low volume fuckery. However, the market has been basing out for awhile, digesting recent gains. If this fucker will not sell off, well God damn it, it’s gonna break the fuck out.

With my money, I like TEKELEC [[TKLC]] , [[ARMH]] , TeleCommunication Systems, Inc. [[TSYS]] , amongst the usual suspects.

One thing to note: we are nearing the end of the 2nd quarter; therefore, beware of end of quarter trickery, as money managers window dress their asshole funds. In others words, before I sign up for the “fresh leg higher” thesis, I need to see the market continue to move higher, AFTER June 30th.

Finally, the banks look pretty good today. I am sure there are many worth buying: for the record, my exposure to the banks begins and ends with Umpqua Holdings Corporation [[UMPQ]] .

As Hollywood people drop like flies, a revolution is brewing, like a bullshit 40oz. of Colt 45 malt liquor. A technology revolution, fuckface, not some “I’m mad at the government and I’m not gonna take it any longer” variety. It is coming and it will be gifuckulous.

Just in case you are wondering “WTF is this asshole talking about?” Your  broke ass will have to bribe a “Distinguished Gentleman” of The PPT for scraps of information. In other words, my new investment thesis is for closers only.

As an aside, LG display just surprised to the upside.

Long live 32 inch LCD screens and all the shit that goes with it.

Disclosure: long Corning Incorporated [[GLW]] (now my #1 position by size) and loving it.

In order to sway a rogue Canadian blog contest. So you know, iBankCoin reigned supreme in this same poll about a year ago. Apparently, winning internet glory once was not enough for Senor Tropicana. He wants to win it again, and again, and again, and again….

Keep betting against me, pikers, see where it gets you. I insist, cease offering “The Fly” financial advice, whether it be via comments or asshole emails. For the most part, I delete all incoming emails, prior to even looking at them. Every once in awhile, I may bless one with a 10 letter reply. Quit wasting my fucking time; it’s worth more than yours.

For the day, I enjoyed toying with stocks, as assholes stuck to marching orders were forced to buy/sell certain stocks, according to rebalancing mantras, like dogs. I enjoyed HUGE rips in Trident Microsystems, Inc. [[TRID]] and [[ENTR]] . while seeing this Finisar Corporation [[FNSR]] character of a stock get tossed off the trampoline into a spiked bed.

All in all, it was a good day, with the bears, clearly, on the run. Going into next week, I will continue to reduce my exposure to low priced stocks, in exchange for companies that actually do business and conduct themselves with honor. I hate to say it, but 90% of you clown rapees are getting involved with a side of the market (micro-cap) that you do not fully understand. They should not take up more than 25% of your holdings.

Off to see about a vacation.

UPDATE: For the day, I was up 1.12%.

I bought 1,000 salesforce.com, inc. [[CRM]] @ $38.90.

UPDATE: I bought 5,000 OmniVision Technologies, Inc. [[OVTI]] @ $10.88. And, I bought 2,000 Corning Incorporated [[GLW]] @ $16.40

Disclaimer: If you buy CRM because of this post, the next time you are on a road trip, your car will break down in the middle of a freeway. And, you may lose money.

There are lots of “green shoots” in today’s tape.

The following stocks caught my attention:

Conseco, Inc. [[CNO]] (h/t CA), Commercial Metals Company [[CMC]] , AK Steel Holding Corporation [[AKS]] , J. Crew Group, Inc. [[JCG]] , Foot Locker, Inc. [[FL]] , [[LOW]] , Alcatel-Lucent (ADR) [[ALU]] The Macerich Company [[MAC]] , Weingarten Realty Investors [[WRI]] , Lindsay Corporation [[LNN]] , Intrepid Potash, Inc. [[IPI]] , [[RBS]] , Credit Suisse Group AG (ADR) [[CS]] , Janus Capital Group Inc. [[JNS]] , Corning Incorporated [[GLW]] , RF Micro Devices, Inc. [[RFMD]] , Atheros Communications, Inc. [[ATHR]] , Arena Resources, Inc. [[ARD]] , [[RAX]] , Himax Technologies, Inc. (ADR) [[HIMX]] , Baidu.com, Inc. (ADR) [[BIDU]] , Apple Inc. [[AAPL]] , Research In Motion Limited (USA) [[RIMM]] .

Frankly, the list goes on and on.

The fact of the matter is, we are in the midst of a technology revolution: fuck what Cramer is saying. I was first to mention the 4g/smartphone bonanza.

Just a reminder, you don’t want to chase the smartphone plays up here. Stocks like Starent Networks Corp. [[STAR]] , Cypress Semiconductor Corporation [[CY]] , TriQuint Semiconductor [[TQNT]] and Apple Inc. [[AAPL]] are great; but stretched like a donkey on a crucifix. Wait for a pullback in such said names, as the Cramer crowd gets poleaxed into oblivion. With my money, I rather buy the commodity pullback. You can short cut the whole process of finding the right name, by buying [[ERX]] . In my opinion, while in the $20’s, it’s a fucking steal.

This is my focus, in a nutshell:

Overweight GLW, OmniVision Technologies, Inc. [[OVTI]] and [[ERX]] . Buy dips in GameStop Corp. [[GME]] , Arena Resources, Inc. [[ARD]] , Ciena Corporation [[CIEN]] and ALU . Play lotto via [[ENTR]] , Flotek Industries, Inc. [[FTK]] and Umpqua Holdings Corporation [[UMPQ]] . And, simultaneously, I will try to keep a 10% cash position, in order to hedge my longs, if needed.

UPDATE: Almost forgot, buy [[UNG]] into hurricane season.

Don’t pay attention to the spending data. Americans saving money is like a fat kid on a diet, living inside a chocolate cake factory. Any and all saved coin will eventually be spent, binge style, on $500 tennis shoes and $5,000 purses. Providing we do not melt down, Nagasaki style, today will serve as a consolidation day, digesting yesterday’s gains.

If it wasn’t for my Flotek Industries, Inc. [[FTK]] sand raping me, I’d be enjoying today’s sell off, as if the market was up. Look, look, look, I have [[ENTR]] , Corning Incorporated [[GLW]] , Atmel Corporation [[ATML]] , [[CNXT]] , GameStop Corp. [[GME]] and Arena Resources, Inc. [[ARD]] higher here. Allow me to rationalize today’s losses, so that I may feel better about myself. In case you were wondering, I’m not buying anything. Fuck that.

I have my cigars in line and my position sheets full with equities, some of them are mustache-less bastards, always taunting me with downticks.

As for hedging: I am not convinced we are due to swan dive into concrete pools yet, so I have very little hedged. My hedges consist of legacy FAZtard and SRSucker positions, that make up about 1% of my holdings. Even with today’s dip, both [[FAZ]] and [[SRS]] are aimlessly running along the bottom. Fucking disgrace they are!

If anything, I like the action in [[ERIC]] and Alcatel-Lucent (ADR) [[ALU]] , not because of their euro-trash qualities, but for their divine power.

More on this later.