HOW’S THAT BEAR TRAP TREATING YOU?

I told you your scalp was going to be cut off. Now you get to sit back and “enjoy” capital losses.

Let’s keep this simple, folks (extra Denninger). The yen is decidedly lower, stocks are higher and gold is still for misfits.

I like AMBA up to $20, SHLD for a squeeze and IMMR because haptics is the way of the future (no Howard Hughes).

LED lighting is all the rage. Have a look at CREE. I have another LED stock that is ready to go and it’s not RBCN. Stay tuned.

Many of you were lured into another bear trap this afternoon. With both the SPY and Dow plummeting from its highs, the Russell, as represented by IWM, held its own.

Have a look.

Forget about everything else. The Russell is the market, represented a wide array of names, irrespective of market capitalization. At the very highs of the session, I was +3.1% and ended up 2.4%, hardly a pullback–indeud.

What I am trying to illuminate to you is the underlying strength of today’s tape. My OWW didn’t pull back, neither did IMMR. We’re gonna make private prison money in the smaller cap names soon, coming up immediately.

The Devil is perplexed over the abrasive robustness of the IWM and how it pertained to his stupid puts. We shall oversee those puts trade down to zero tomorrow, such is the prophecy of The Fly. Ordained by the stock Gods and Shadows del Urinal, we shall eat his liver for lunch–laughing all the way to church.

http://www.youtube.com/watch?v=tBDes9TuGBg

I still made 2.4% for the day; but the market came in EXACTLY how The Devil said it would. In private conversations, he was very smug and belligerent about his predictions, speaking to me in tones that infuriated me to the point of wanting to commit to violence.

However, being the gentleman that I am, I merely suggested that he fall victim to a giant gorilla rape and that the market was heading higher.

For the day, he was right and I was right–being that I made so much money.

Hence the term applies: “The Fly wins all the time, even when he is losing.”

I guess you forgot the market was down on Friday. You’re overzealous in your attempts to fade this rally. You see a little daylight with the market coming in and hope to “score” (extra Beavis). Much to your chagrin, the market is set to take off into the bell, closing near the highs of the day.

You can bitch and moan all you like, it will not change your cursed fortune.

The Gods smile upon me and smite you.

We shall see who wins this round of stock market roulette. I am ready to play.

Top picks: IMMR, OWW

I leveraged by 20%, buying up shares of AMBA and SHLD. I am now 120% long, into the polestar of this rally.

Obviously, I do not think the rally is done, because it is a ‘good’ one, in the traditional sense. Small fries like Fly jr and other underlings on this site have been readily dispatched to fag boxes and thrust into the oblivion, amidst empty space, black–nothing.

You can try to bet against the tape, but will soon fail. Mr. Bernanke is smoking marijuana filled blunts again, laced with the remains of his enemies.

In summary, the market is up because the tape is ‘good.’

“The Fly” is leveraging up to bank some coin and there is nothing that you or your stupid friends can do about that, mate.

I’m up 2% right out of the gates. For the first half of 2013, I made a little more than 29%, making it my best half in years. For the second half I intend to at least double my gains, putting me to +60%–which would be my highest return since 2010.

To accomplish this I am going to have to be consistent, fearless and I cannot have large draw-downs.  Losses must be taken quickly, eliminating the prospect that any one stock can deny me of accomplishing greatness. On the other hand, I must exhibit patience on names that I have faith in. To balance this delicate task, I must pay attention to position sizing and assume that my first buy will be wrong, leaving room to average in.

By far, my largest position is IMMR, with GS a close second. I am fully invested, with only scraps left to allocate. I might swap out of one name for another today, or I may do nothing.

Sometimes the best move is to sit back and enjoy the view.