Lenny, You’re Hired!

A lucky day indeud for Mr. Jet Fuel aka Leonard Dykstra.

I have numerous errands to run today, so this will be my only post during the trading session. My crystal ball says, the market is about to pop, led by banks and tech. Already, we are seeing extreme bullishness in the sectors, with big dicked gains in Ciena Corporation [[CIEN]] , Goldman Sachs Group, Inc. [[GS]] , TriQuint Semiconductor [[TQNT]] and Deutsche Bank AG (USA) [[DB]] , just to name a few.

Despite cursing the Gods for placing me into Flotek Industries, Inc. [[FTK]] , “The Fly” is having a splendid day, with gains in OmniVision Technologies, Inc. [[OVTI]] , SandRidge Energy Inc. [[SD]] Corning Incorporated [[GLW]] , [[ERX]] , salesforce.com, inc. [[CRM]] , CIEN and TEKELEC [[TKLC]] .

I’m not exactly thrilled over today’s action, but it will suffice. For the most part, the economy is getting donkey punched; but the trillion dollar question remains, what does that mean for stocks? Does the Dow belong at 8,100, 6,100 or 10,000? As crazy would have it, I would not be surprised to see all three numbers hit, over the next six months. In the meantime, I am sticking to a thesis, just sort of riding this fucker out. Granted, it’s not a risk free strategy; nonetheless, eventually, rest assured I will be bowling on you fuckers with cannon balls of fire.

Aside from current holdings, I like the action in Starent Networks Corp. [[STAR]] , Alcatel-Lucent (ADR) [[ALU]] , General Cable Corporation [[BGC]] and Marvell Technology Group Ltd. [[MRVL]]

Just a quick update on my market positions, not a big deal.

I am still bullish on the indices, despite head and shoulders and retarded necklines being broken. Anyone with a half a brain and a net worth more than 50k could care less about such nonsense. I am not bullish on banks, CRE and small crap, even though I am long Flotek Industries, Inc. [[FTK]] and [[ENTR]] . Consider them my pets.

I am very bullish on technology stocks, specifically companies that are playing notable roles in building out the 4g network (LTE) and anything to do with production of smartphones. Moreover, I am bullish on Corning Incorporated [[GLW]] , due to their dominance in glass. Remember, they do not make the glass for your bullshit house. They make glass substrates, most commonly used in LCD’s. And, expect to see GLW play a significant part in the smartphone area too, as phones move to touchscreen.

Finally, within smartphones, I am most impressed with the iPhone. Therefore, any company putting chips or parts into iPhones are worth my investment dollars, such as OmniVision Technologies, Inc. [[OVTI]] .

NOTE: I am not stuck on bullshit. Should this tape continue to deteriorate, I will hedge quick and heavy: I promise.

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Regrettably, this evenings GRAVEYARD PARTY, hosted by DEVIL DOG and “The Great Roubini,” has been canceled, due to government interference. Goldman Sachs, alongside the O’Bama administration, saved the day. Incidentally, earlier today, I informed the gentlemen of The PPT of a pending bottom, at the very lows of the day. During that time, DEVIL DOG and Co. were packing their napsacks with horse nose meat and the testicles of small cats, for a late night snack, of course.

As you know, “The Fly” bought more Corning Incorporated [[GLW]] today, while he was having a “fuck it” moment, reminiscent of the gentlemen drinking a few brandies, while the Titanic was sinking into freezing as fuck water.

In short, today’s reversal was impressive and will lead to a sharp bounce tomorrow. Write that down, fuckface.

NOTE: iBC’s own Chart Addict just launched a premium service. Despite not being a fan of charts, I am a huge fan of The Chart Addict. His market calls have been nothing short of stellar. For those of you who are interested in stepping up your game, I believe his service is worth your investment.

This is it for me, final buy of 10,000 Corning Incorporated [[GLW]] @ $14.05.

Disclaimer: If you buy GLW because of this post, your wife will find out you were cheating and cut your balls off. And, you may lose money.

NOTE: For PPT subs, Extreme Oversold Conditions

California is a disgusting state, filled with degenerate sickos, who drive around in small electric cars. The state is full of waste, both monetary and organic. As you well know, California is the epicenter and the epitome of what is wrong with America today.

So, without further haste, I will list a few names, always worth betting against or shorting, for your pleasure.

Sorted by lowest hybrid score and state (min. price $10), via The PPT:

PacWest Bancorp [[PACW]] , Verisign, Inc. [[VRSN]] , BioMarin Pharmaceutical Inc. [[BMRN]] , Redwood Trust, Inc. [[RWT]] , Calpine Corporation [[CPN]] , 3PAR Inc. [[PAR]] , AMB Property Corporation [[AMB]] , The Ryland Group, Inc. [[RYL]] and ArcSight Inc. [[ARST]] .

Naturally, now that I am highlighting some horrid California stocks, the market will soon explode, like a volcano, to the upside. Nonetheless, it’s a good list to keep handy, just in case you get lost in the market jungle, without a compass or piker pass to The PPT.

I just printed out a few charts, took out my favorite ruler; and now I am ready to chart the shit out of this market. Whenever I see the market move, I will mark it down on my charts, sort of like keeping score at a baseball game. This way, I can’t lose.

The market, in hilarious fashion, is spinning out of control, lower. There is no point in debating the awesomeness of banks any longer, when you have [[SRS]] going ape shit to the upside, reaching for the high hanging bananas.

It’s treasury time people! The government, with the courteous help of Goldman Sachs, is funneling you back into treasuries, whether you like it or not. [[TLT]] is back on its gay way higher, as all of the big balled money managers abide by the edict and flee equities, for fear of the “summer doldrums.” It’s a flight to quality, distinguished people of the interwebs; and you are cordially invited. You should all feel special.

As an aside, it appears the commercial real estate industry is going out of business again, despite being able to raise a gagillion dollars in secondary offerings. Apparently, there is no sum of money too large that can save them. It is their destiny to head back down to $00.00, so be it. As for the banks, it’s only a matter of time before the FAZ people start holding graveyard parties again. I can’t wait to attend.

Last year, I remember quite vividly, Devil Dog crashed his Dodge Viper into a mausoleum, drunk off the rum soaked donuts The Great Roubini made. It was quite a riot, burlap suits, “Death to CNBC” chants, the works!

In closing, I wish you luck in your stock market market adventures; you’re certainly gonna need it. As for me, after I get done with these kick-ass charts, I will continue throwing expensive china out of my window, at the people down below. And, in between breaks, I will buy and sell stocks.

That’s all.

You little trollops think you are bearish? I can be the biggest bearish prick the world has ever seen.

I will dress up in suits made from 100% burlap, go on CNBC, and tell Bob Pisani “you’re gonna be out of a job soon, pal,” since the market will be closing the fuck down soon, until the revolution ends. That’s right, fuck your necklines and moving averages. I am talking full blown cataclysm. The type of market that makes you cry in the shower, like a little bitch.

As for you low-end stock brokers/money managers:

You will be sweeping the leaves out of my driveway, come October. I will hire many of you to carve happy faces in giant pumpkins, while letting the kids throw eggs at you from the rooftops.

Understand something, “The Fly” does not lose, even when he is, well, losing. It’s all just a temporary way station, until the destination of complete and supreme victory is reached. I can dig myself into the deepest murderhole and claw my way back, with nothing more than a toothpick. I am what you endeavor to become, with regards to money management acumen and litterbug proclivities (think neighbors lawn).

As for you third tier bloggers, busy like little bees, drumming up soap operas, keep up the good work; it serves as great material for my asinine twitter account.

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