Smif N Wessun Feat. Raekwon – Black Trump

[youtube:http://www.youtube.com/watch?v=gGqq4ZX3cdE 450 300]

Don’t expect any big moves, until the banks get your hard earned tax dollars. After all, it’s in their best interest to keep the market gloomy, while the idiots in Congress put on a show. Oh, the poor congressmen are so concerned over the little ol’ tax payer.

Right.

There are some concerning matters in the banks, specifically Washington Mutual, Inc. [[WM]] and Morgan Stanley [[MS]] . On the other hand, real banks with chest hairs, Wells Fargo & Company [[WFC]] and JPMorgan Chase & Co. [[JPM]] did just fine.

My positions punched me in the face again, with losses in Citigroup Inc. [[C]] , [[UYG]] , Walter Industries, Inc. [[WLT]] and good old fuckery itself Freeport-McMoRan Copper & Gold Inc. [[FCX]] .

Look you, the entire world is out to kill short sellers. There is an unprecedented effort to create another bubble. The way I see it, instead of betting against the man with the magical printing press, I might as well befriend him and politely ask for a few billion dollars.

Finally, Research In Motion Limited (USA) [[RIMM]] is going to post numbers tomorrow. I am deathly afraid of buying it directly, despite its depressed share price. However, getting long [[ROM]] , down at these levels, may in fact turn out to be a rather profitable endeavor, indeed.

In my opinion, LIBOR is up, due to banks extorting Congress for the cheese. This is something they are able to control. So, it makes sense to give an appearance of doom, in order to get that cheddar, if you know what I mean.

I remember back in late 2002, Buffett made a big investment in Level 3 Communications, Inc. [[LVLT]] convertible bonds. The deal, similar to today’s Goldman Sachs Group, Inc. [[GS]] deal, nearly marked the bottom in the 2002 market maelstrom.

It’s not the money that’s important to Goldman, but symbolism.

The reason why I am bullish, at least in the near term, is because sentiment is about to change. If this 700 billion dollar fuck you goes through, the market discussion will switch from “who’s next to die?” to “how much liquidity did Citigroup Inc. [[C]] just free up, courtesy of the tax payer?”

Frankly, I see no reason to keep downside hedges on, with the market at these lowly levels. With my money, I will continue to allocate capital towards banks and basic materials/resources.

Indirectly, the basic resource trade will hedge my bank longs, or not. It’s entirely possible that both banks and commodities can boot stomp some fucktarded bearshitting old guys into and down idle manholes.

Keep that in mind when betting against me.

Top picks: Synovus Financial Corp. [[SNV]] , Citigroup Inc. [[C]] , [[ROM]] , Freeport-McMoRan Copper & Gold Inc. [[FCX]] , Walter Industries, Inc. [[WLT]] and [[UYG]]

I bought 2,000 Walter Industries, Inc. [[WLT]] @ $58.21.

Disclaimer: If you buy WLT because of this post, you will get the black lung. And, you may lose money.

Quit bellyaching about the fucking market and do something about it. We have morons with the black lung mining coal for us office types, yet we show them zero appreciation. Be a true American; buy coal stocks!

As you know, I own Peabody Energy Corporation [[BTU]] and Walter Industries, Inc. [[WLT]] . However, there are others worth looking at, such as Massey Energy Company [[MEE]] , Arch Coal, Inc. [[ACI]] , Patriot Coal Corporation [[PCX]] , CONSOL Energy Inc. [[CNX]] , Yanzhou Coal Mining Co. (ADR) [[YZC]] , Alpha Natural Resources, Inc. [[ANR]] and Foundation Coal Holdings, Inc. [[FCL]], mainly for shits and giggles.

Now, before digging yourself into a “coal hole,” you need to understand the difference between thermal and coking coal. One is used for heating your bullshit house, while the other is used for steel production. Getting long both BTU and WLT gives you a little of both.

Aside from that, I am hungry and will now make my way to the local deli for a fucking sandwich.

Developing…

Congress doesn’t have the balls to let the banking system fall by the wayside. I choose to believe, well connected/evil men, like Warren Buffett, know something most of you idiots do not—which is: the bailout is going to pass. Congress is just putting on a show for us television box watchers. Do not think, for one second, any of those asshats will risk tanking the stock market and the economy, while most economists say such a plan is needed.

With that being said, I like my chances buying dips, despite insane LIBOR rates. At the present, there is uncertainty. With a certain amount of ambiguity in the air, one could make nice sum of gold coins, via getting on the right side of the trade.

It’s pretty simple. Either we get a monstrous government investment in the housing market or we get Armageddon. For once, I want to bet with the g-men.

With my money, I like Citigroup Inc. [[C]] , [[UYG]] , Walter Industries, Inc. [[WLT]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] right here, right now. Also, I want to be long beaten down tech. The ‘Sick Steve Trade’ is over, as Apple Inc. [[AAPL]] saddles itself in the 120’s. Short cut the bitch and own the whole space, via [[ROM]] .

Finally, oil looks good; but is constantly tricking people. I already own oil, so I will not add more here. However, I will buy coal. I can always make room for some filthy, yet delicious coal, via Peabody Energy Corporation [[BTU]] and WLT.

Man your battle stations. Woodshedder to the cafeteria. The mothership is readying to fire internet laser beams into your bullshit third tier blogs.

Developing…

What the fuck was that?

We went from down a lot to up to back down huge, all inside 30 minutes. Seriously, I fucking loathe this tape. With the absence of short sellers to bid for spiraling banks, the volatility is insane.

Despite being down for the day, my intra-day buys and sells were accurate. We will see how smart I think I am, sometime early tomorrow morning.

My bank longs, Synovus Financial Corp. [[SNV]] , Citigroup Inc. [[C]] and [[UYG]] did well, while my recent foray into commodities sucked wind.

Go figure.

Off to drink a few dozen shots of gasoline.

It’s the ultimate ‘Constanza trade.” We will goose step higher, while the banking system gets transferred to a life support system.

I can tell you, with a certain amount of certitude, many of my ‘smart friends’ are short stocks like out of control imbeciles. For the moment, “The Fly” believes the crisis is over. The government is in control and they will brainwash or arrest short sellers, in order to jolt stocks higher.

I know it’s sort of a ‘conspiracy theorized trading philosophy.’ However, in a world of smoke and mirrors, sometimes all that matters is intuition.

While it’s true, Congress can mangle the bailout and fuck everyone, ad hoc. I rather ‘go government’ on egregious short selling malcontents and buy up massive quantities of Citigroup Inc. [[C]] , [[UYG]] , [[ROM]] and Freeport-McMoRan Copper & Gold Inc. [[FCX]] —in order to hedge for inflation.

As for my endeavors into coal:

I do not like it—not one bit. But, I believe the knifing price action smells of capitulation, regardless of underlying fundamentals.

So, to sum things up:

Long banks, tech and coal.

Short third tier blogs, elections and men who wear makeup on tv.

Here are some of the things I just did:

Sold some of the [[SRS]] I bought in low 70’s.

Sold all of the [[FXP]] that I bought yesterday.

Increased my Walter Industries, Inc. [[WLT]] position by 30%.

Increased my Peabody Energy Corporation [[BTU]] position by 30%.

Bought back some Citigroup Inc. [[C]] , which I sold Friday, north of $20.

Sold out of my entire Interactive Brokers Group, Inc. [[IBKR]] position.

Sold out of all of my Western Refining, Inc. [[WNR]] position.

Increased my Freeport-McMoRan Copper & Gold Inc. [[FCX]] position by 10%.

Increased my Synovus Financial Corp. [[SNV]] position by 30%.