Fly Buy: TYH, EMN, PKX

I bought 20,000 [[TYH]] @ $29.84.

UPDATE: I doubled down on both Eastman Chemical Company [[EMN]] and POSCO (ADR) [[PKX]]

Disclaimer: If you buy [[TYH]] because of this post, your local gov’t will inflict damage upon your purse, via AUSTERITY MEASURES. And, you may lose money.

I sold it all, when the markets were down, and shit.

Okay, we took some pretty significant market hits this week; but it may be just the beginning. While it’s true, the markets are deeply oversold here, if the underlying economic factors materialize the way I think they will, we have thousands of points left on the downside. Nonetheless, in the short term, I am positioning for a bounce, by selling the balance of my [[VXX]] position at the open, including the entirety of my personal accounts.

From a pure mechanical standpoint, the market is in dangers of falling victim to forced liquidation type sell off, thanks to the fact that so many hedge funds got caught leaning long. Prior to this dip, every jackass with a series 65 was long commodity stocks, in size. Well, for the most part, commodity related stocks are down anywhere between 10-40%, over the past 2 weeks. This means, without a doubt, margin liquidations and hedge fund failures are to be expected.

If so, and you can count on it, stocks like Freeport-McMoRan Copper & Gold Inc. [[FCX]] , United States Steel Corporation [[X]] and Bucyrus International, Inc. [[BUCY]] , just to name a few, may drop to levels you didn’t think was possible.

So, before going John Rambo, bow and arrow crazy, into this market, consider the fact that men with tiny brains and big assets are about to get flushed the fuck out, effectively rendering your bullshit charts meaningless.

On the flip side, if all of that shit doesn’t materialize, we’re due for a nice bounce. I will be a net seller into said bounce.

Tonight, during dinner, fuck 2 1/2 inch rib eyes, heavily salted, lightly peppered. I will ask the waiter to bring the whole fucking cow to my plate. “Bring me the whole cow, milk and all, you fucking bitch,” cried Le Fly at his favorite eatery. This is what it’s all about, folks: fucking over thy fellow money manager, then stealing his book of business. That’s right, I’m talking to you. Give me 5 minutes alone with your clients and they will be mine.

But I didn’t come here to brag. Instead, I am here to celebrate, dance in the blood of my European cousins. Remember today, because in about a week or so, most of you ingrates will be back to doubting my market hand—in the midst of a recovery bounce or vomiting of the markets. Either way, you and I go through these cycles all the time. After all, it’s human nature to out-best and attempt to murder the next guy, while he sleeps. But, in the end, I will win—ALWAYS.

Before I go, I found a clip of you guys (readers) in a car, singing some queer song.

I am lightening up every hour on my [[VXX]] position; but I will NOT be adding to any longs, NO MATTER WHAT. At this point, I am booking 50-90% gains on [[VXX]] , while incurring blows to the scrotum in a variety of longs. By lightening up here, I run the risk of losing 1.5-3% (my estimate) tomorrow, via my 45% long positions. However, I am willing to accept that risk, AND MORE, considering my year to date gains are now north of 25%.

On a personal level, in order to abate conflicts of issues, I will hold the entirety of my long VXX position into tomorrow’s fuckery. I will have you know, my position is quite large, but so are my balls.

I know many of you are tempted to go long here. However, if we are going to double dip, thanks to Europe/China melt down, 10,100 will look rich as fuck, 6 months from now. Should we double dip, the Dow is going to 8,000 minimum.

With over 4% intra-day gains, I have been paring down my monstrous [[VXX]] position. And, I sold out of my [[FAZ]] . IF I went to cash on the entirety of my [[VXX]] position, I would be more than 55% cash, right now. Although that seems like a lot, I would still be subject to daily drubbings on the remainder of my assets (45%) that are long.

To be blunt, I am strongly considering taking my huge gains (millions) here and blowing out of some longs, even if it means taking big losses. For the record, I will not consider selling out of Flotek Industries, Inc. [[FTK]] , since it’s too thin to absorb my tickets.

More later.

Okay, real quick, for a I am busy making millions in the market right now and have no time to fuck with you free loaders here:

Today’s key tells are [[FXY]] and [[TLT]]

TLT is telling you deflation is infecting the economy, via lower rates. I can get a 30 year mortgage now for 4.9%.

FXY is going up because the Yen carry trade is unraveling. Look at the Aussie/Yen cross: fucking repulsive. There is a run for the exit, as money managers trample over one another, but find themselves trapped in the proverbial funnel. I WARNED YOU ABOUT THE FUCKING FUNNEL!

Finally, we have air pockets from here to the “flash crash” lows. Like I said, look for the market to retest 9,900 then bounce.

Seriously, I hope many of you are okay and have not done too much damage to your bullshit portfolios.

[[VXX]] is up more than 55%, month to date, making it the BEST downside hedge out of all publicly traded ETF’s. While many of you, stupidly, questioned “The Fly” with regards to his investment choices, a select few in The PPT, followed his lead, and as a result, find themselves in a position to buy your margin liquidation.

This shit does not happen by chance, gentlemen. I am in possession of a time machine, and on a regular basis, zip through your atmosphere in plutonium powered space rockets. I have been conducting myself with a good deal of honour [sic], especially towards many of you twitter fuckers, who, generally, have no idea what you are doing. Let it be noted, with age, “The Fly” aka Plutonium Petey has developed a somewhat surprising tolerance for idiocy, mainly because he enjoys to relish in his winship through obscene blogs, such as this one.

With the jobs picture dimming, China faltering and Europe in serious trouble, you have to be out of your fucking mind to be long here, unhedged, as if nothing was wrong. If you are managing money for a living, it is your FIDUCIARY RESPONSIBILITY to foresee these events and protect your clients money accordingly. That’s why most of you “small book” fuckers are “flash in the pans,” while Le Fly is here to stay aka “the real deal.”

The portly Puerto Rican man told Frank the Korean dry cleaning guy: “Frank, look at my white shirt, it has black marks all over it.”

Frank, looking a bit shocked and surprised, asked to see the shirt in question. Immediately, Frank’s wife, the seamstress, hurried over to assess the shirt in question.

“Ah, ha!, said Frank. “Look at this black shirt next to this white one. It is rubbing off on the white a one.”

The portly Puerto Rican man replied, ” I know that Frank, that’s why I brought it over with the white shirt.”

Frank’s wife entered the conversation by saying “it makes a no sense.”

Frank, quite rudely, interjected “Ah, see. This a black a shirt is no good. It’s made in a China or a Bangladesh. This a fabric is a very bad. This shirt is no good!”

Frank’s wife chimed in “Ah, yes. I’ve never seen such a fabric. No good. Throw this shirt away.”

Confused and bewildered, the portly Puerto Rican man said “thanks Frank. But can you fix my white shirt, which is the reason why I am here?”

After two minutes of studying the white shirt, Frank, looking sternly over his reading glasses, said to the portly Puerto Rican man, “that black a shirt is a no a good. I fix the white shirt.”

While the portly Puerto Rican man walked out of the store, a space alien magician approached Frank with an absurd amount of “high-end” dry cleaning.

To be continued…

For the first time in a long time, the market made me nervous today. You can feel the tension in the air and the back and forth demeanor of the tape. At any given moment, the market can move 200 points in either direction. If you are bullish, you have the oversold thing working for you now. However, it’s not like the market is dirt cheap, at 10,450. If you are bearish, you have news flow and seasonality in your favor.

People want to buy stocks. It’s in our nature to move forward and build upon fuckery. If we have one fuckery, we must continue until we get two. To put it bluntly, the stock market, as it is presently constructed, is entirely for asshats. Plain and simple, if you are not playing both ends via hedging, you are gambling. Don’t get me wrong, gambling is okay, if you have money to blow. However, unfortunately, most of you do not have unlimited resources.

For the day, my current pastiche of stocks/ [[VXX]] is not working, so far. As I write this, I am down about 1%, thanks to losses in POSCO (ADR) [[PKX]] , Eastman Chemical Company [[EMN]] and Flotek Industries, Inc. [[FTK]] . Nevertheless, considering I’ve been going up 0.5%-1% per day for the last week, I will accept today’s minor setback as par for the course.

The most impressive part of today’s resilience was the action in the banks. However, keep in mind, it’s just one measly day. There are plenty of hurdles to overcome, especially during the slow summer months. Take your time with planned trades and try not to act on impulse. The market is positioning to rape everyone.