Have Faith

Forget about Jesus for a second. Here on Earth, the Federal Reserve is your God. They set policies on interest rates, which has a ripple effect on everything that you consume, from rat traps to houses. Being long this market, like religion, requires a certain amount of faith. You must discard reason and “blue blazer thinking,” and just go.

Where are we going?

Answer: To heaven AND MORE, vis a vis free money and cheap liquor.

Your opinions, as well as mine, do not matter. All that matters is the fucking monkey playing the accordion and how that pertains to my annual income. See what I am saying?

I bet you are not following me.

Okay, imagine you were in the street and some asshole came up to you and said “yo, don’t touch that mailbox over there, it has cancer on it.” Now, would you go over to said mailbox and touch it? If so, that means you have faith in that asshole not knowing what the fuck he was talking about. If you avoided the mailbox, for fear of contracting a most heinous form of cancer, your faith would be placed with the asshole, who apparently is “in the know” on such forms of infectious cancer.

My point is this: if you short stocks, you will get cancer.

NOTE: Into the bell I bought 2,000 POSCO (ADR) [[PKX]]

I am quite pleased to see the GOP do something right, via blocking the “financial reform” bill. Fuck your financial reform, 100 ways till Monday. I like everything as is, including daily 40 point increases in the Dow.

I’ve been telling you motherfuckers to get short the euro, via [[DRR]] , long the dollar, via [[uup]] and long treasuries, via [[TLT]] , for months now. All of a sudden, the dipshits on the teevee like that trade? Fuck that, it’s time to unwind that and look for new ideas, such as Goldman Sachs Group, Inc. [[GS]] in the $150’s. Mark my words when I say: NOTHING WILL CHANGE. Goldman will not trade down to the $120’s, where that blond headed jackass likes it. Do yourself a favour [sic], take a looksy at GS at these levels. Thank me later.

At the moment, I have meetings to attend, all pertaining to the arts of proper asset management. As I walk out of the office, I am comfortable knowing that I am getting “my share” of the billions being produced by the stock exchange daily. And, secondly, I am way ahead of you clam-fuckers, especially when it comes to banking coin and shit.

Top picks: Goldman Sachs Group, Inc. [[GS]] , GMX Resources Inc. [[GMXR]] , Jarden Corporation [[JAH]]

Greece is entirely screwed. Portugal and Italy are next. Yet, U.S. futures are pointing to a higher open, due to the belief that “everything will be alright.” Although I believe we are now running on borrowed time, I still think the market can squeeze out a few percent on the upside, before the European crisis really hits the fan.

Today is also a “Fed day.” I expect rates to remain unchanged and the language in the Fed’s statement to be benign. With all of this, I expect the market will bounce hard out of yesterday’s murderhole. My recent purchases include [[VXX]] , Goldman Sachs Group, Inc. [[GS]] , Jarden Corporation [[JAH]] , [[CGA]] and Cytec Industries Inc. [[CYT]] .

Fuck this shit. I have no interest in making any wild moves today. Everyone is too damn impatient when it comes to money. I will sit here and wait for the money to come to me, as I intend to sell everything I own at a profit.

NOTE: [[MTA]] is not really down 10% this morning. The stock went ex-divvy on an annual 9% dividend today.

Anyone else find it disturbing that Goldman’s personal emails are being broadcasted and published for the world to see? Who the fuck do these Congressmen think they are?  I know it’s part of the “investigation” at hand. But I just think people are way too docile when it comes to personal privacy. The reality is, we are living in a benign police state, where everything is monitored and everything is punishable by way of  dick-sucking prison terms. Fuck those people on capital hill, twice over, with cacti.

The market “corrected” today, thanks in large part to reason taking hold of the market. While it’s true, I am positioned long. It’s also true, I will be fine, as always.

There was only a handful of stocks that resisted today’s sell off, one of them Goldman Sachs Group, Inc. [[GS]] . I bought my initial piece and will buy more into weakness. My target position is 10,000 shares.

Finally, my thoughts on the market have not changed from a week ago, despite selling out of [[TLT]] . With my [[TLT]] proceeds, I went long some stocks; but nothing too extreme. At the present, I have 10% long [[VXX]] , 28% cash and 62% long. The market “should” correct 10% from these levels, setting up the best buying opportunity of the year. My mantra will be to remain patient and try to avoid following some of you fuckers into egregious murderholes.

I bought 2,000 [[VXX]] @ $20.25 and 5,000 [[CGA]] @ $13.60.

Disclaimer: If you buy the above stock because of this post, your local congressman will seize your email accounts and publish its contents in your local newspaper. And, you may lose money.

I bought 1,000 @ $153.75.

Disclaimer: If you buy GS because of this post, your local congressman will come to your house and question your involvement in the housing collapse and subsequent job losses in the mid-west. And, you may lose money.

Someone pulled the rug from underneath the market floor. I suspect the Goldman robots are pissed off at Congress for getting all McCarthy on them. As a result: massive sell programs ensue.

I sold out of TriQuint Semiconductor [[TQNT]] and [[TAN]] , bringing my cash position up to around 30%. [[TLT]] is ripping to the upside, as it is the preferred safe haven for investors. And, [[VXX]] is initiating lift off now. If the market slides here, [[VXX]] will be back to $30 in no time at all.

On the long side, fuck, I have a lot of exposure in a variety of names. The main thing for me is to be patient and try to avoid over analyzing today’s sell off. It happens and losses are part and parcel of the game. On dips, I have a list of names worth buying. With 30% cash and 9% in [[VXX]] , I am well positioned to weather the storm.

Are you?

Since you go to a grocery store and buy bacon every week, does that give you the right to sue your local grocer when you get heart disease? When I visit Whole Foods Market, Inc. [[WFMI]] , I buy  domestic organically grown food, despite all of the Mexican shit on sale down the block. When it comes to beef, I try to buy grass fed only, mainly because I am not into e-coli poisoning.  When visiting my favorite grocery stores, I speak to people. I talk to the butchers, the managers, even the cashiers. Most of them eat corn fed beef and absolutely love bacon. However, the manager of the grocery store, down the block, fucking hates bacon and avoids eating meat, whenever he can.

The government hacks going after Goldman, because their super sophisticated clients (institutions) lost money betting on the housing market, is equal to me suing Whole Foods Market, Inc. [[WFMI]] because my cholesterol is 208; and hell, last I checked, those fuckers sold meat.

Assholes of Congress, like-minded internet idiots: Goldman does not service pikers. The people who bought products from Goldman did so because they wanted to, not because they were cajoled. For Pete’s sake, the CLO, CDO, CMO market was booming for years prior to the collapse. Goldman was simply supplying the market with lots of red meat because their was LOTS of demand. What they did with their own money should not concern the government, just like it’s none of my business what the manager of Whole Foods is eating for dinner tonight. Unless their was gross negligence and/or a deliberate intent to “get liquid” off of their clients, this government versus Goldman Sachs stinks of sour grapes.

As for the market, it’s a mixed bag. Earning are coming in well above expectations, which should keep the ball rolling downhill—for now.

More on this later.

If any of you clown-fuckers are interested in buying an iBC mug, email RC ([email protected]), and he will fill you in. I think he can put your stupid name on it, if you like.

As you are well aware, the internet was not the same today, because iBankCoin was offline for a staggering 4 hours. To my dismay, it has come to my attention that iBC’s many enemies have been consorting with one another, in order to exact fiendish schemes against our internets. Through proper channels of discovery and diagnosis, we’ve located the person(s) responsible for today’s travesty and have contacted the iBC Security Apparatus, led by none other R.W. Pelican.

R.W. Pelican, Executive Chairman of iBC’s Security Apparatus

Effective immediately, Mr. R.W. Pelican has suspended his duties with the Vatican (God will just have to wait), where he was dealing with the “gay priest” issue in the most heinous of ways. He will now deploy all of his knowledge and wisdom of the arts of subterrestrial espionage, in order to flush out and extract iBC’s many enemies.

Upon landing in JFK airport today, enroute to iBC’s NYC headquarters, R.W. was quoted saying “These fellows who have arranged for upheaval shall be swallowed whole, soon enough, by the iBC Security Apparatus.”

In other news, the markets closed mean, with reversals in a lot of key names. My gut tells me I am about to recapture some lost coin in [[VXX]] shortly.

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