Shorts Josh’d in Late Day Surge

The late day weakness in the dollar resulted in a frantic short squeeze, much to the chagrin of the DevilDog crowd and others of his ilk. When will you silly bastards learn, there are mustard seeds everywhere. There is nothing you or your stupid friends can do to stop the ongoing rally.

My friend, buddy, pal, Danny, has a chart up that will blow chunks all over your face, whatever the fuckle that means. Shit is going up and down, all at the same time. People with 3rd grade math skills would deduce the market is trading sideways, with a very bullish bias.

So you know, “The Fly” has been busy dealing with general contractors (getting work done on house, ready to sell it), while juggling the responsibilities of an egregiously busy money management business and dealing with you bastards here on iBC and PPT. Needless to say, excess time is not a luxury nor a right for Senor Tropicana.

Bottom line: I liked the action in select banks and tech. To play the new iphone, I love OVTI, in a very manly, non-gay way. Also, I like TRID, FITB, GME and of course FTK. Accumulating FTK has become a hobby of mine. I sort of just hang around and say” hey, here’s 100k, let’s buy more FTK.”

The market trades up tomorrow. Position accordingly.

I bought 5,000 FTK @ $2.26, 10,000 FITB @ $7.35 and 2,000 OVTI @ $10.79

Dollar down/market up, like clockwork.

This sell off  is not scary at all, sort of like a baby pointing a loaded pistol. It’s true, I am losing some hard earned coin today; but it is a necessary development. I want to buy stocks on a dollar reversal to the downside.

Watch UUP.

God willing, this sell off will create some bountiful buying opportunities, specifically within the oil/gas space. I am using ERX, as my go-to ETF, to buy the industry in durress.

Once again, MVIS is taking the fuck off and OVTI, FNSR and FITB are holding up rather well, despite the DevilDogged Monday.

“The Fly” is fighting off egregious allergies and zombified bearshitters, all at once. My advice, wait for the dollar turn, for it shall set you free.

ibc_report_issue3 –

No man knows what he is doing, more than me, in the entire galaxy.

Think about that, while sucking on a few lemons.

UPDATE: “You’re internet hot”

[youtube:http://www.youtube.com/watch?v=pTy-4YRRwdY 616 450]

It was a great game, watching the Goldman Sachs robots battle the UBS robots for market dominance today. At the end, the GSbots edged out UBS, via an egregious buy program on the Dow 30, effectively “Joshing” all shorts into the bell.

Please avoid the low hanging fruit of [[FAZ]], for they are poisonous.

I had a good week, with big dicked gains, enabling me to have visions of grandeur, aiming for triple digit returns. Howsoever, I am sure Mother Market has a few brass knuckled punches in store for my face, so I may need to slow my roll—bet against myself or some shit.

The action in technology is the best since the dot com days, let it be known. Stocks like [[AAPL]], [[RIMM]], [[ALU]], [[RFMD]], [[ARUN]], [[CSCO]], [[BRCD]] etc, run higher every fucking day.

“The Fly” has a specific road map plotted out, in order to protect his gains and clear the way for an epic/record year.

It was a great week and yes, “The Fly” wins again.

A lot of chatter, regarding mortgage rates and the prospect of the Fed raising interest rates, is contributing to intra-day weakness. There is no fucking way the Fed is going to raise rates. People are just looking for reasons to sell.

Truth be told, most investors have no idea why they are long. Most money managers are chasing performance, trying desperately to show good quarterly gains to their idiot investors.

With the dollar spiking, oil down and banks weak, we are setting up for a down day. If you need to commit capital, try to do so during the final 10 minutes of trade. The market is up 11 of the past 13 weeks. Needless to say, we are due for a minor pullback, before melting short sellers to a cinder.

At the moment, my preferred longs are GLW, OVTI, ATHR, TRID, ENTR, FTK, ERX, IR ARD and FNSR.

I bought 15,000 @ $2.08.

Disclaimer: If you buy TRID because of this post, your boss will walk over to your desk, short after reading this, and fire you. And, you may lose money.

This is a Fantasy Island market, where all of your wishes come true. All of the recent buying, bidding up the Dow by 40%, was validated with today’s better than expected employment number. This is how it works, in small increments. We are trying to turn around a 12 trillion (or 13, who’s counting) economy. It takes time.

Thus far, during today’s trading session, all I have been hearing and seeing is denial. People are selling because they do not believe the numbers. That’s fine. Let people sell off on good numbers; I will buy the dips.

With that in mind, today’s intra-day action is somewhat bearish. I can sense the fuckery, whereby people are intent on seeing the market close in the red. However, I still believe, it is worth the risk being long here. The news is just too good and the momentum is undeniable.

An old favorite, MVIS, is popping today, based on rumors that the company is set to unveil an OEM partner, possibly AAPL. For the record, I still own a token 10,000 shares, mainly for sentimental reasons.

Within my positions, I am most impressed with FITB, ENTR, IR and TRID.

If forced, by gun point, to choose a stock, I’d buy TRID, then proceed to take a nap, shortly thereafter.

UPDATE: Just to quell MVIS requests, all I heard was a “strategic partnership is possible” which would eliminate the need for the company to raise new capital. I am not buying the rumor.