Logged Another Win

Someone told me the market is on its biggest losing streak of the year. By the looks of my accounts at all time highs, I wouldn’t know it.

I am out of POWI, IMMR, EGLE and ANGI, with timing no less than you’d expect from a seasoned space alien magician.

I’m in at 110% long again. I don’t care about the risk, sitting on a +59% gain for the year. Although my gains were higher earlier, I still managed a 1% showing.

It’s all about the boats, friendo. The Dry Bulk Index is inflating and “The Fly” is sailing the seven seas like a pirate, ransacking merchants, long an egregious amount of BALT.

Top holdings MHO, BALT, NSTG, FSLR, FLTX, FFIV, CVV

Yeah, I’m up another 2% aka +60% for the year.

http://www.youtube.com/watch?v=JQYTVg2dE2o

Via Briefing:

Drybulk shipping rates rise again. Panamax pops 8.9%, capesize rises 5.2% overnight. Since Aug 12 capesize rates are up 300%
Overnight, capesize rates rose 5.2% (or $2,206/day) to $42,211/day, panamax rates rose 8.9% (or $1,144) to $13,989/day, while supramax rates rose 2.6% to $10,579/day. The overall BDI rose 5.2% (or 106 pts) to 2,127 overnight.

The Baltic Dry Index (BDI) is now up 17 out of the last 18 sessions (up 27 out of last 31 sessions).

Since August 12 (a recent low), the BDI is up 114% to 2,127 (from 996), led by capesize rates. Meanwhile, capesize drybulk ship rates are up 300% (or $31,661/day) to $42,211/day, also since Aug 12, largely driven by higher iron ore shipments to China out of Brazil and Australia. Panamax rates are up 87%, largely driven by coal activity and anticipation of a good amount of shipments from a bountiful U.S. harvest.

I sold out of hundreds of thousands of shares of EGLE for a 40% profit. I sold another 20 blocks yesterday at $7.1. The reason why I swapped EGLE for BALT is balance sheet, mate. In my opinion, thanks to the debt/eq ratio at EGLE, there is a distinct possibility that a secondary offering is just around the corner. That risk is significantly less with BALT. BALT also has exposure to Capesize rates.

Full retard to the upside.

Pardon my brevity, but I am moving rapidly through this market. I took 40% gains in EGLE and another 12% in ANGI.

On to the next one.

I added to my BALT position.

MAKO just got bought out at a 80% premium. That company sucks, yet they still caught a bid.

Heading into the final months of the year, expect mergers and acquisitions to pick up some steam and special dividends be distributed. Naturally, share buybacks will be demanded by well to do activist shareholders and the average investor richly rewarded for being patient.

American balance sheets have never been better, so keep that in mind the next time you get wild eyed and try to become a hero shorting stocks that you deem to be “bad” or overvalued. The net result will be similar to what the bozo short sellers at MAKO are seeing this morning: account balances of zero.

http://www.youtube.com/watch?v=aJ7eJm5bZ5Y

Iron ore shipments are through the roof. The shippers will begin to mint money if this trend continues. One thing is for certain, this trade isn’t dead.

Disclosure: I am long EGLE and BALT.

I didn’t participate in your down market. As you suffered in agony, I cruised to a 3% gain, led by EGLE, YELP, MHO, ANGI and FLTX. Most of my positions moved today, including ESPR, NSTG, CVV, BALT, FSLR, FB and POWI. Let it be noted, I own zero IMMR and have hardly any POWI left.

I am turning over positions very quickly because I am in the zone. I am in rapid trading mode, ping-ponging from one position to the next, like a giant locust devouring the corn crops of the unfortunate.

My buys have been very energetic, mostly market orders, because I want to get in fast, and then out. I’m not loyal to any one name. I view these stocks as vehicles to finance future core positions.

As I build up my asset base, trading like a space alien magician, you get the fruits of my industrious labour.

I’m not worried about this tape, as we’re woefully close to being oversold. It’s only a matter of time before we snap back and if you’re positioned in the right stocks when it happens, you’re gonna make a killing.

I took profits on some of my EGLE position and allocated funds into BALT.

I added to my NSTG position.