Get Ready for the Revolution

As Hollywood people drop like flies, a revolution is brewing, like a bullshit 40oz. of Colt 45 malt liquor. A technology revolution, fuckface, not some “I’m mad at the government and I’m not gonna take it any longer” variety. It is coming and it will be gifuckulous.

Just in case you are wondering “WTF is this asshole talking about?” Your  broke ass will have to bribe a “Distinguished Gentleman” of The PPT for scraps of information. In other words, my new investment thesis is for closers only.

As an aside, LG display just surprised to the upside.

Long live 32 inch LCD screens and all the shit that goes with it.

Disclosure: long Corning Incorporated [[GLW]] (now my #1 position by size) and loving it.

In order to sway a rogue Canadian blog contest. So you know, iBankCoin reigned supreme in this same poll about a year ago. Apparently, winning internet glory once was not enough for Senor Tropicana. He wants to win it again, and again, and again, and again….

Keep betting against me, pikers, see where it gets you. I insist, cease offering “The Fly” financial advice, whether it be via comments or asshole emails. For the most part, I delete all incoming emails, prior to even looking at them. Every once in awhile, I may bless one with a 10 letter reply. Quit wasting my fucking time; it’s worth more than yours.

For the day, I enjoyed toying with stocks, as assholes stuck to marching orders were forced to buy/sell certain stocks, according to rebalancing mantras, like dogs. I enjoyed HUGE rips in Trident Microsystems, Inc. [[TRID]] and [[ENTR]] . while seeing this Finisar Corporation [[FNSR]] character of a stock get tossed off the trampoline into a spiked bed.

All in all, it was a good day, with the bears, clearly, on the run. Going into next week, I will continue to reduce my exposure to low priced stocks, in exchange for companies that actually do business and conduct themselves with honor. I hate to say it, but 90% of you clown rapees are getting involved with a side of the market (micro-cap) that you do not fully understand. They should not take up more than 25% of your holdings.

Off to see about a vacation.

UPDATE: For the day, I was up 1.12%.

I bought 1,000 salesforce.com, inc. [[CRM]] @ $38.90.

UPDATE: I bought 5,000 OmniVision Technologies, Inc. [[OVTI]] @ $10.88. And, I bought 2,000 Corning Incorporated [[GLW]] @ $16.40

Disclaimer: If you buy CRM because of this post, the next time you are on a road trip, your car will break down in the middle of a freeway. And, you may lose money.

There are lots of “green shoots” in today’s tape.

The following stocks caught my attention:

Conseco, Inc. [[CNO]] (h/t CA), Commercial Metals Company [[CMC]] , AK Steel Holding Corporation [[AKS]] , J. Crew Group, Inc. [[JCG]] , Foot Locker, Inc. [[FL]] , [[LOW]] , Alcatel-Lucent (ADR) [[ALU]] The Macerich Company [[MAC]] , Weingarten Realty Investors [[WRI]] , Lindsay Corporation [[LNN]] , Intrepid Potash, Inc. [[IPI]] , [[RBS]] , Credit Suisse Group AG (ADR) [[CS]] , Janus Capital Group Inc. [[JNS]] , Corning Incorporated [[GLW]] , RF Micro Devices, Inc. [[RFMD]] , Atheros Communications, Inc. [[ATHR]] , Arena Resources, Inc. [[ARD]] , [[RAX]] , Himax Technologies, Inc. (ADR) [[HIMX]] , Baidu.com, Inc. (ADR) [[BIDU]] , Apple Inc. [[AAPL]] , Research In Motion Limited (USA) [[RIMM]] .

Frankly, the list goes on and on.

The fact of the matter is, we are in the midst of a technology revolution: fuck what Cramer is saying. I was first to mention the 4g/smartphone bonanza.

Just a reminder, you don’t want to chase the smartphone plays up here. Stocks like Starent Networks Corp. [[STAR]] , Cypress Semiconductor Corporation [[CY]] , TriQuint Semiconductor [[TQNT]] and Apple Inc. [[AAPL]] are great; but stretched like a donkey on a crucifix. Wait for a pullback in such said names, as the Cramer crowd gets poleaxed into oblivion. With my money, I rather buy the commodity pullback. You can short cut the whole process of finding the right name, by buying [[ERX]] . In my opinion, while in the $20’s, it’s a fucking steal.

This is my focus, in a nutshell:

Overweight GLW, OmniVision Technologies, Inc. [[OVTI]] and [[ERX]] . Buy dips in GameStop Corp. [[GME]] , Arena Resources, Inc. [[ARD]] , Ciena Corporation [[CIEN]] and ALU . Play lotto via [[ENTR]] , Flotek Industries, Inc. [[FTK]] and Umpqua Holdings Corporation [[UMPQ]] . And, simultaneously, I will try to keep a 10% cash position, in order to hedge my longs, if needed.

UPDATE: Almost forgot, buy [[UNG]] into hurricane season.

Don’t pay attention to the spending data. Americans saving money is like a fat kid on a diet, living inside a chocolate cake factory. Any and all saved coin will eventually be spent, binge style, on $500 tennis shoes and $5,000 purses. Providing we do not melt down, Nagasaki style, today will serve as a consolidation day, digesting yesterday’s gains.

If it wasn’t for my Flotek Industries, Inc. [[FTK]] sand raping me, I’d be enjoying today’s sell off, as if the market was up. Look, look, look, I have [[ENTR]] , Corning Incorporated [[GLW]] , Atmel Corporation [[ATML]] , [[CNXT]] , GameStop Corp. [[GME]] and Arena Resources, Inc. [[ARD]] higher here. Allow me to rationalize today’s losses, so that I may feel better about myself. In case you were wondering, I’m not buying anything. Fuck that.

I have my cigars in line and my position sheets full with equities, some of them are mustache-less bastards, always taunting me with downticks.

As for hedging: I am not convinced we are due to swan dive into concrete pools yet, so I have very little hedged. My hedges consist of legacy FAZtard and SRSucker positions, that make up about 1% of my holdings. Even with today’s dip, both [[FAZ]] and [[SRS]] are aimlessly running along the bottom. Fucking disgrace they are!

If anything, I like the action in [[ERIC]] and Alcatel-Lucent (ADR) [[ALU]] , not because of their euro-trash qualities, but for their divine power.

More on this later.

Thanks to Jeremy and his staff of Finnish elves for working, slavishly, in order to reintroduce and relaunch the New iBankCoin on this glorious day of child molester deaths and stock market melt ups. As some of you know, reading my missives via The PPT, I made more than 3% during today’s trading session. However, this blog is not about me, but iBankCoin in general.

The new site is blessed with a PPT widget, that will give access to the average fucktard (you) to know how my brain aka The PPT is ranking the entire market, at all times, for FREE. That’s right peasants, “The Fly” is gifting you fuckers with a little taste of mathematical precision. Second, “The Fly” has inserted over 200 videos, of all genres, into “the iBC database,” for amusement and educational purposes. Next, we inserted a poll widget, which will be used to gauge market sentiment on a weekly basis. As you know, I enjoy betting against most of you. So, this new tool will give me access to your wrongness, 24/7, a true gift from you to me.

In addition, we improved upon our “recent comments” widget. Check it out; it is insanely splendid. And, I added the Stocktwits widget, which should be on every blog/financial website in America. If you are not familiar with Stocktwits, then you have been living in a cave for a long, long time and do not deserve the luxuries of the internet. In short, it is a place where stock ideas are shared, in real time. Some of the ideas are flat out idiotic. However, Howard and Co do a great job at filtering out the yahoo message board-esque noise, while keeping the discussions lively and relevant. If you are not a member, go sign up; it’s free.

Finally, we have changed the entire look of iBankCoin for a reason. That reason is plainly explained in a quote: “It’s not a game anymore.” We endeavor to be the #1 financial site known to mankind. To do so, I will need to throw many old fuckers down rusty sewer pipes, while besmirching and defeating thousands of natural enemies (by natural, I mean fucktard with a mustache). For those of you who have been here from day 1, reading my posts, you’re welcome. Without a doubt, “The Fly” has saved and made the people from the internets millions of dollars. With some luck and a little hard work, I intend to make you fuckers zillions.

UPDATE: The iBC IT department is fast asleep, after working 24 hours straight, without rest. First thing tomorrow, we will hook up blogs to front page. As of now, only my blog is updating to the front page. We will adorn the PG box to the front page and also fix the font fuckery taking place in there. In addition, I understand The PPT module is creating an issue with some corporate spam guards. We will address that too. And, finally, we will affix the headers back onto the blogs. If you notice, they look quite bare without them.

UPDATE II: Chart Addict has a fresh post up.

Too bad none of you generic, Lee jeans wearing, rejects will ever know what one (depression) feels like. I contend, unless you are living in a cesspool, like Detroit or Flint, there are zero anecdotal signs of depression. For the love of black molds and staph infections, people are rich as fuck in NY, despite the melt down on Wall Street.

Sure, people are getting flushed out of their homes; but those losers should have been renting in the first place. Don’t get me wrong, I do not think the economy will roar back, leaving bite marks on the faces of bears. However, I spit on those of you who put forward the notion or idea that we are heading towards a 1930 style depression.

You dick suckers eat too many hamburgers.

Regarding the market:

It will disappoint, crush, elate and mesmerize, for as long as it is allowed to trade. It is the great casino, where fortunes are made and lost, where men build careers or ruin them. The market is the engine underneath the economy, fueling services and innovation via capital gains taxes and good old fashioned wealth creation. I will be wrong with some of my buys and sells, every once in awhile. But, as most of you know by now, scientifically, I cannot lose. My market hand is too heavy for 99.9% of you ball jugglers.

My winship can only be matched by an inverse NY Met ETF. Last I checked, that fucker ( inverse NY Mets ETF) does not exist.

[youtube:http://www.youtube.com/watch?v=imbwn6iVryQ&feature=related 570 480]

Let’s just burn it all down, shall we? The Nasdaq strength will not be able to negate the absolute fuckery taking place in the broader markets. Thanks to a variety of issues, the market is knifing lower. Some people say it’s due to “dollar strength” or “Bernanke is going to jail soon” sentiment. However, I am in the camp that believes Joe Terranova has jinxed the market for good.

All of the bullish commentary, coming from Joe, has resulted in great disdain for equities, sending stocks down the sewer pipe into large vats of feces.

We’re doomed again, gentlemen. Today’s early optimism has morphed into an outright “fuck you, you’re dead” rout. I was wrong for siding with the mentally ill, believing in a never ending rally, due to “green shoots” and golden shit.

Unfortunately, I must deal with the consequences of my stupidity, via capital losses. Just so you know, I’ve gone “suicide Joe” on this market, not giving a fuck about intra-day warning shots. I am hell-bent on seeing my positions trade higher and refuse to concede to the obvious signs of pending doom. For those with greater flexibility, you might want to heed my warnings, prior to entering new positions.