TARP Vote All Over Again

We all know the U.S. is not going to default by 8/2/11. However, I’d be hard pressed to find people out there who would say, emphatically, we will not default within 10 years given the current trajectory of the budget. We spend too much and we make too little. It’s only a matter of time before the debt load chokes us to the point where we need to authorize severe austerity measures and much higher taxes. By that point, the U.S. economy will be in a death spiral stage, boasting real unemployment of more than 20%.

The reason why it’s so important to the markets that we get our financial house in order is because, to some, we are still the hungry lion trapped in the room filled with inexperienced day traders (appetizers). The fact that the GOP and Dems cannot craft a deal tells the world we are a country filled with baboon brains, more adept at destroying shit than building.

Should we fail to raise the debt ceiling, the market will take a hit. Plus, don’t forget, the rest of the world is entirely fucked, including the biggest house of cards: China. At some point, everything will fall, 2008 style, sending Senator Gint to his local chapel for deep prayer to his imaginary friends.

At this point, I have no ideology or agenda. I know it sounds cliche, but buying the dips and selling the rips is the only thing that resonates with me. Do yourself a favor and try to tune out the noise, especially from 3rd tier blogs, owned by kids who have never held a job for more than 2 weeks. I do not find it fashionable to call out other bloggers for their ineptitude. Frankly, paying attention to another man for more than 2 minutes is a little fruity. I will tell you now, there is nothing fucking fruity about your Lordship, Le Fly, not even his illuminati lunchbox filled with fruit.

If a deal is not crafted, this is exactly what will happen to people who are heavily long stocks.

I lightened up some more and added to my TZA hedge throughout the day. At the present, DECK and VCLK are my largest positions, then GSVC. Tech looked great today and I am not doom and gloom, but cautious.

I have an interest in fine tuning my trading, so bare with me if I am throwing out a lot of cross-currents. The big picture for me is the fact that I am up 16% for the year. I ensure you, these gains will be preserved and added upon. With The PPT as my guide, and the explicit help of my urinal shadows, nothing can stop me, not even you.

Have a great weekend.

I sold out of both for 5% wins.

I am now 60% cash.

Chess and I told you to get long the semis in July. At that time, the market was in the tank and no one wanted semis. Well, inside 12631, Chess has been pounding his African jungle drums on SOXL for a week, much to his subscribers delight. The PPT really likes SMTC here, as it tends to shoot higher following an OVERSOLD signal. Last signal was registered on 7/19. I want to buy it. Believe me, I really, really do. However, if I start buying one stock here, another there, I’ll be knee deep tech in no time at all. When you buy “just one more stock”, it’s like taking a gateway drug. It only leads to more consumption.

I am opting to miss out, even though I feel like taking out my guns to shoot bearshitters in the face.

Other stocks of interest to me are HSFT (small burrito with large short interest) and SFSF (big call volume registered today).

The essence of this blog is to enlighten you of the winship taking place inside 12631. Yes, it’s a premium service and yes you need to be a PPT sub in order to gain the right to subscribe to 12631. Just like other forms of industry, people should be paid for things they do well. Chess and RC do a first class job inside of “The Pelican Room.” Fellow members of The PPT should give them a shot.

Into the bell, I am selling more.

I want to buy TLT, but not yet. Hell, I want to buy a lot of stuff; but I remain stoic in my unparalleled discipline. In the meantime, I am looking for a minor pullback, something that will send people into mini-panic mode again. My current cash position is about 40%. I will bring it up to about 50-60%, until I get my prices.

However, this is not the time to get all aggressive, and shit. If you go long with conviction here, mark my words, you will get clown raped, tossed into a carnivale cannon and fired into outerspace.

Go do some cocaine or heroin shots, or whatever the fuck you enjoy doing.

As for “The Fly”, he will simply be SHOMPing around, zipping around NYC in his fucking space rocket, abducting farmers in Kansas—things of that nature. It’s hot as fuck in NYC today. Good thing I work for myself and don’t have to punch a slave clock, like most of you. If you want to get out of the cabin class, you’re gonna have to start listening to my rants, whether you like it or not.

A great man once said “I don’t have the secrets to success, I have the recipe.”

This tape is tailor made for me: predictable, yet ambiguous, moves, vacillating between easily identifiable ranges.

I sold out of my FAS calls and common, for a 70%+ gains, as well as CRZO. I didn’t sell my CRZO common, as I tend to do things in increments. With today’s sales, I upped my cash horde to about 40%. And, into the bell, I started a small position in TZA, via Aug 33 calls. I intend to buy more into strength.

For the day, I was up 1.3%, upping my gains to mid 16%. I made my coin and now it’s time for me to unwind, relax poolside, get ready for my mid-August vacation in the Carribean.

At the present, I am still long plenty of DECK + calls, ANR, GSVC, VCLK, CRZO and BPFH. With regards to GSVC, I’ve decided to hold the stock, no matter what, for an undetermined period of time. I’m going WNR/FTK on the stock, due to my belief that this is a must own stock, regardless of market forces.

I sold my GORO position.

And, I kicked out my FAS position, with calls, and sold out of CRZO calls, but kept calls.

For all of you who held firm during the unending negative news flow, I tip my top hat to you and yours.

Rejoice in this victory and feel free to toss homeless men down idle manholes. You deserve everything the world has to offer, because you are better than thy neighbor. Do not concern yourself with the opinions of those who are without coin. They might have good intentions; but jealousy lurks in the shallow waters of their psyche. Try to surround yourself with successful people, for they are able to understand your plight of winshippery.

With that in mind, as my FAS calls move past the +70% intra-day gain point, I bid you a good day.

See you at the bell.

My FAS calls are up over 50% today, with my DECK and CRZO calls not too far behind. What you are witnessing here today is a sublime harmony in mathematical precision, some of you call it SHOMP. This is not an accident or coincidence, folks. This is what I do.

The news is not relevant to me, just price action. As of yesterday, I was 70% long, my highest weighting in weeks. I intend to hold that weighting until we are OVERBOUGHT. The banks are leading and that is very important. Aside from FAS, I like BPFH. Go read the company profile of BPFH and then you shall understand why it is the perfect Obama bank stock, AND MORE.

At this pace, my gains are sure to eclipse 20%, year to date, soon. It feels like just yesterday when I was down 8%, promising the world a “Great Spectacular”, in which I intended to reverse said losses for green. Needless to say, I am now deep in the black.

You shouldn’t sell into this rally, in my opinion. The banks have 2-3 days of further upside. Let the summer winds work in your favour [sic], warming the sentiments of the coldest and most ardent of bears. Once that happens, we will sell to them and celebrate like Kings.