Off To Mexico

Instead of playing around with stocks, I’ve decided to press my luck with a global pandemic, by way of roaming the ghettos of Mexico with large diamond rings and chains upon my person.

My recommendation, regarding stocks, is to cover your shorts and be an American, by way of long equity exposure. By now, you should be sick and tired of my rants, always claiming victories, despite specious evidence of losses. Just know, “The Fly” wins all the time, even when his positions “death dive” on no news.

As you know, I like the semis, due to their “non-retarded” ways. Some names worth investment include: OVTI, AMKR, RFMD, ATHR and SPIL.

Finally, I have another urgent matter to attend to, which, as a result, unveils the insignificance of trading stocks and winning stupid internet bravado battles. Remember, stocks are for asshats, but life is for fucktards.

Words to live by.

NOTE: Into the bell, I will add to my death merchant position: FTK.

NOTE II: A shot out to Lord Gint for his terrific call on PL. Muchos gracias.

Japanese machinery orders came in better than expected. Despite stories of freight ship clogging the arteries of popular Asian ports, LCD manufacturers are bitching about supply shortages, due to big DEMAND in China. AUO is your play.

Everyone is obsessed with secondary offerings and how terrible it is for stocks. Says who, fuckface?

The fact that companies are able to go to market to raise capital is a fantastic.At the end of the day, most of you are simply overzealous clapping gay men, with rocks in your head and clouds beneath your shoes.

While it’s true, “The Fly” is getting taken to the woodshed on FTK; it’s also true, the battle is not over, just yet. The bear case for FTK is need for capital. They are burning through 2mill per quarter and have a bond payment due in August. At the present, they have 9mill in cash/line of credit. Without a doubt, they will need to raise capital. However, I do not doubt for a second their ability to raise cash.

The capital markets are open to everyone. Come one, come all. Take some money and spend it on cocaine biscuits and office building built from lemons.

With CLRT up, I like SFE here. Remember, SFE is a deep value play, who owns more than 50% of CLRT.

For the most part, stocks are just chopping people up. There is no clear direction and it is dangerous, as fuck, to lever up and take a strongly biased position. Most of my longs are weak today. But, my fall is cushioned by a 35% cash position. Instead of using such said funds to short stocks, I will wait out this period of indecisiveness and use such said funds to buy the dips.

I was going to buy a basket of biotech stocks, ahead ASCO. But my appetite for small hand grenades has waned since last night.

In closing, the market needs a catalyst to go higher. Right now people are obsessed with “going away in May,” mainly because they are brainless walking suits. Pick and choose your spots carefully, while having a light market weighting. Once the correction ends, you will regret being short. In my opinion, it makes more sense having a heavy cash position, readying to buy dips, than hedging with shorts.

The market has a bad vibe to it, over the last few days. The market isn’t getting rocked; but at the same time, it is slowly bleeding out.

From tech to cre to banks to oil, the market has punched the livers out of a variety of names, particularly those of the small cap variety. The best sector in the market has been agriculture chemical stocks, like MOS, AGU and POT. But, they can’t keep going higher, while everything else is flaking out.

Don’t get me wrong, I am not declaring the end to the bull run. As a matter of fact, I have no desire to short stocks. I am suggesting to be mindful that a correction is at hand and it may continue, until there is a catalyst to shoot higher.

With my money, I bought some PL and will likely add to some of my loser positions, prior to the market close.

View the carnage here.

UPDATE: More classic Bloomy.

An evil, insidious word.

UPDATE on the Important Matter of Using the word Maintain:

Good Day.

[youtube:http://www.youtube.com/watch?v=QBuSQCqcIsE 550 400]

I’m not into buying FAZ and SRS anymore, like many of you donkey punchers. If I decide to go short, I’ll be damned if I give those horse faces from Direxion another red cent. Fuck them and the queer unicorn they rode in on.

Because of my family emergency, I was only able to “feel the market” for part of the day. I bought some CUZ and eyeballed buying more TWi—but never got motivated enough to buy some.

Aside from that, I am participating in the secondary offering, PL.

Overall, the market has a very nervous tone to it. I am not 100% comfortable being long. But I made my bed and now it’s time to sleep in it.

On a whole, the fundamentals of the market are improving. LIBOR is way down and once thought to be dead companies are finding financing. Do not look at the secondaries as a negative. Sure, some stocks are undergoing significant dilution. But, just two months ago, those same names were marked for dead. In my book, it’s better to have a $10 stock, instead of a big ol’ gay zero.

Eventually, the dilution will stop and demand for higher than zero returns will commence. If your game plan is to time every single inflection point, I guarantee your dumb ass will lose the house, cars, wife and kids, inside of 6 months.

NOTE: The inflation trade continues with gains in ag, specifically MOS, IPI, AGU, POT and TRA.

I bought 2,000 CUZ @ $8.

Disclaimer: If you buy CUZ because of this post, your dog will bite a policeman. And, you may lose money.

… research that is. I have plenty of cancer in my family history. I am in no need of the actual thing, just yet.

We’re going into ASCO aka “The Mother of all Cancer Conferences,” and it’s lotto time for biotech stocks.

Some names to keep an eye on include: MEDX, OXGN, EXEL, GHDX, PARD, IMGN, CGRB, MDVN, ARIA and CYTK.

I’ve been out of the office today, attending to a family matter. By the looks of things, the market is bouncing along the bottom, buoying 95% of my positions. For some odd reason, I feel as if I am skating on thin ice. Nonetheless, I remain steadfast in my nonsensical bullish ways.

I’m warming up to the video game sector too, based upon fucked up SNE PS3 data. Essentially, they are forced to lower prices on the PS3, in order to reduce inventory. It’s only a matter of time before Sony caves into economics 101. As a result of greater console sales, GME, ERTS, THQI, TTWO and ATVI should benefit.

I will be out for the better part of today, attending to an urgent matter. Please feel free to pester the rest of the iBC staff in my absence.