Fed Fondles Fish

Nothing keeps a fishy market down is today’s lesson. After all, the market is not real anyway. It’s all Alice in Wonderland bullshit, buoyed by men in black suits and thick mustaches. Nevertheless, I remain 50% “all in.”

It appears Schlumberger Limited [[SLB]] will acquire Smith International, Inc. [[SII]] for a nice little premium. On any dip, I am long the oil and gas equipment space in size. Now, I won’t be in said names for .13 cents or a little more than 5 minutes. I will be long said names until winship is abundantly clear, sort of like how I rolled with Sears Holdings Corporation [[SHLD]] , Green Mountain Coffee Roasters Inc. [[GMCR]] , Cummins Inc. [[CMI]] etc. The list, mind you, goes on and on and on. Weatherford International Ltd. [[WFT]] is at the top of my buy list.

Which brings me to the important topic of day trading. If you thought technical analysis was reserved for mentally handicapped people, well then, day trading is the exclusive practice of lemon wedge creators aka “the bottom of the proverbial investor barrel.” Back in the old days, when I was trying to find out who I was as an investor (crying profusely), I’d buy and sell stocks on an intra-day basis, hoping to make something out of myself. I’d leverage my account to the hilt and go long XYZ @ $30, then quickly blow the fuck out @ $30.13, as if I had a gorilla brain. As time went by, I realized “hey, what the fuck! I am spinning my wheels.” Shortly thereafter, I became hellbent focused on dispatching my enemies, via short squeezes, all thanks and praise to the fire in my gut and the blackness of my heart.

In short, the market is fishy and I want no part of it, at the moment. I am not missing out “per se,” since I am “half in.” Let the news permeate the small minds of the gorilla brained public, prior to making large investments.