HEDGED

I bought 25,000 FAZ @ $15.30 and took 12% of my assets and dumped it, mind you, into VXX, sub $28. The purpose of these trades are not to “make a killing” like some other bearshitters out there, but to protect what I have.  With year to date gains now swelled above 34%, I do not need to make a killing anymore, for I have already feasted on the bones of my enemies.

So, taking notice from The PPT aka “motherfucking time machine”, I stepped aside and hedged up. Additionally, I sold out of the OEH that I bought earlier, for a nifty .30 profit.

Just so you know where I am coming from, at the highs of today’s tape, The PPT registered an extreme OVERBOUGHT reading of 3.32. Granted, there have been instances when the reading has been OVERBOUGHT and we proceeded to burn higher. However, more often than not, this shit is razor thin sharp accurate. Plus anyway, the bulk of PPT misreads occurred just before the market took an unprecedented 1 day dump out of 1,000 Dow points. That’ll learn ya for ignorin’ these here internets.

In short, I win again.

I know you are tempted to buy more stocks here. You can’t help it, for your brains are really, really tiny. Do yourself a favor, pal, take profits and go clean out your car, or some shit. Find a hobby. Walk the dog; feed the wife.

With my money, I am waiting for the voices in my head to tell me to hedge, via VXX. And, I will look to sell more longs into tomorrow’s strong opening, if in fact we are blessed with one.

Market timing, on a scale like this, is not for everyone, kids. Most of you are better off watching professionals, such as myself, perform these grand theatrics, than partake in them on a personal level.

As for you brokers out there: get on the fucking phones and make a friend. Quit surfing the interwebs, you fucking losers.

NOTE: ATPG is ripping.

I just made 10 50 years worth of your annual salaries this morning. Because of this, I am now leaving the desk and heading yonder, into the concrete wilderness, where I will “accidentally” drop hot slices of pizza on peoples faces and spit on homeless people, as I walk into high end eateries.

I did my job this morning, raising cash and nibbling on some cheap wares. However, the market is now annoying me, as I feel like buying it and shorting it at the same time! I must be a fucking retard to think in such a manner. Therefore, I will do nothing.

I do not wish to muddy your waters by giving reasons to buy or sell. I will just tell you to consult your bathroom urinal shadow for cogent financial advice.

Ciao (spoken in a heavy Chinese accent)

Going with the flow, I added to my SHLD position, buying 2,000 @ $80.99 and started a new position in OEH, buying 5,000 @ $8.58.

Disclaimer: If you buy these stocks because of this post, someone will remove your kidneys for sale on the Russian black market. And, you may lose money.

Raising cash today, I sold out of my monstrous TNA ($46+) and FLS ($92) positions. And, I sold my sole Chinese lotto play, RINO ($12.70-12.80).

Just like that, I have a 25%+ cash position. I am done selling today, barring some sort of fucked up downside reversal. However, I may begin hedging shortly.

Two weeks ago we were famished; today we are dipping expensive bread into large vats of decadent olive oil.

The stock market is the embodiment of human behavior, in all of its “grotesqueries.” For example: as this market melts up, all of the clam-fuckers who were screaming “sell” last week will be covering their shorts and going long, amidst a buying panic. However, the appropriate course of action is to take profits here or add to underwater shorts. The best trade is always the hardest.

I’m not particularly sure when the market will reverse lower. According the The PPT, we are not officially OVERBOUGHT until the score hits 3.10+. I suspect that score will be breached today. So, to be clear, I shall take some of my wins and walk away from the table today. As you know, I went “all in” long last week, so it’s only prudent to raise some cash here in order to “manage risk.”

Remember that guy in the comments section who laughed at me for only having a 10% cash position, saying “way to manage risk Fly, ROFLMAOPSDGDHDFG?” Yeah, neither do I.

NOTE: Credit spreads are tightening, as expected, in a number of insurers this morning, notably HIG, MET and XL.

“The Fly”, 2010, inside of The PPT

Thanks to the recent market turmoil, iBC has been blessed with a sharp spike in traffic. For you newbies here, let me explain a few things.

1. I don’t give a shit about traffic or readers. Never assume that I am here for you.

2. I do not tolerate bullshit in the comments section. I run a very, very tight ship and will ban you without thinking. To date, I am proud to say that we have banned over 250 “readers.”

3. I am only interested in making money. I don’t care about anything else. That includes everything.

4. “The Fly” is smarter than you, with a certified IQ of 155. Don’t try to outfox the fox who is hiding in the tree with a sniper rifle.

5. iBankCoin reigns supreme over all other financial websites. All other blogs, naturally, are considered “3rd tier.”

I need to get the fuck out of here. It’s a slow Friday and I have money to spend, things to do tonight. So, do me a favor and make sure this market stays within this tight range, so I can fuck with it on Monday morning.

Most of you ham and eggers panicked the fuck out of the market, aka “the kitchen”, when the heat was turned up a notch this morning. You had visions of dramatic, opera-esque, reversals, under a shit heap of sell order. Lo and behold, after “rookie time” (9:30-10) ended, we are now melting higher again.

Some are built for this shit. I acknowledge the supreme trading abilities of many in my inner circle, including the gentlemen inside of The PPT aka “my work bench.” However, most of you should play your position, which is the bench—sadly enough. Hire a financial advisor or throw some money in a hedge fund, for you are simply spinning your wheels. Life is too fucking short to waste time on stuff that you can’t do.

For example: “The Fly” doesn’t fuck with sheet rock or paint ceilings. That shit is tedious and requires some skill, if done right. I hire “illegal Mexicans” to do that shit for me.

Do yourself a favor and hire an “illegal Mexican” to trade your accounts. He can probably do a better job than your jaded ass.

Back to the markets:

The “buy the dip” mentality has permeated investor psyche again. Fuck the retail sales numbers. All I care about is price action. Do you hear me, you dumb motherfucker?

In short, until further notice, X, FLS, SHLD and MWW are going higher—and are my top picks.

A picture is worth a zillion words, AND MORE.

UPDATE: Here is a longer term view of all PPT scores, sans the recent reading.

The PPT wins again.