Serious Update: Fly’s Take on the Market

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The market is up, but the important sectors (energy, steel, banks, ag) are weak. Today is an abbreviated session, so don’t expect much. The real fireworks (pun intended) will begin on Monday.

There are a few things “The Fly” is proud of:

For one, I am immensely proud of my children. They are beautiful and amazing. Also, I am proud to be married to such a beautiful/intelligent woman, who happens to be a great cook, Mother and companion.

Thirdly, “The Fly” is proud to be short [[FMBI]], [[TCB]] and [[PACW]].

All three of those fucking stocks bring tears to my eye, when I reminisce over the first day I sold them.

I still remember, to this day. It was a muggy summer afternoon. My trader/servant was out and about, eating a bagel or some shit, while I had to execute my own fucking trades. Can you believe that?

Anyway, “The Fly” was pissed off, throwing paintings around the office, punching the refrigerator and yelling at the people around him. Then, all of a sudden, he looked up at his screen and saw the letters F-M-B-I.

He was intrigued!

Immediately, he raced back to his desk and sold short 20,000 shares and laughed with glee, for he knew right then and there those four letters were going to make him rich-er.

Then, like 15 minutes later, “The Fly’s” trader/servant came back and said: “Fly, you know that asshole down the hall who you hate”?

Fly replied: “Yeah, what did that asshole want”?

The trader/servant replied: “He said he was sorry about coming into your office with his shoes on. He said he wants to make it up to you. He said to buy TCB and PACW.”

My landscaper is in the mafia. No doubt.

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The airlines, autos, banks and the retailers are all going under. Ironically, the fucking farmers are doing swell. Remember back in the 80’s, when those fuckers were as poor as cow shit? They even threw concerts (Farm Aid) for those assholes. Farmers were just walking away from their crops and moving to the ‘big city,’ like the fucking rubes they are.

I bet loads of those assholes took up executive positions at Bear Stearns.

Oh the irony.

I’m getting my face kicked in, long [[RIG]], [[ARD]], [[FTK]] and [[PCZ]] here. Thinking fast, trying to stem the bleeding, I bought a block of [[DUG]]. Ultimately, the oil names will rebound and hit new highs. However, we are in ‘fuck mode’ right now.

Get your guns and sharp blades ready. Soon enough, assholes with tow trucks will roll up to your house and jack you for your grub, via towing away your bullshit refrigerator, right out of your house.

Just know, “The Fly” sees shit in slow motion. I can see the hits coming, before they happen. Right now, I’m into all sorts of short positions, mostly for the fun of it.

After all, I am up nearly 55% year to date and I don’t need more money. However, it’s worth noting, I do want new money.

They really need to fire everyone on CNBC. If I were in charge, I’d replace them with comedians, like Chris Rock and Robin Williams.

Finally, I made a lot of moves today. Go reference my ‘Fly Buys/Sells’ for a detailed look. In short, I want to be a net buyer of energy stocks on this dip, while greedily hedged with DUG. Also, I want revenge against the devil, via long [[SMN]]. And, I have a variety of bank stocks that should be at zero. Therefore, I am short.

Also, I covered most of my [[HRB]] short. It’s too fucking lame.

Holy Shit Update: Go check [[NVDA]]. Go long [[SSG]] off of this disaster. Apparently, NVDA has a packaging issue. Off the top of my head, [[AMKR]] is into that type of shit. Short them too.

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I sold short 3,000 [[MXB]] @ $32. I sold short 3,000 [[CAT]] 71 and I sold short 5,000 [[FMBI]] @ $19.

UPDATE: I sold short 10,000 MXB @ $31.90.

Disclaimer: If you sell short any of the above stocks because of this post, you will go bald. And, you may lose money.

I bought 15,000 [[SMN]] @ $32.15. I bought 500 [[RIG]] @ $148.35. I bought 3,000 [[FXP]] @ $90. I bought 10,000 [[DUG]] @ $27.40.

UPDATE: I bought 500 RIG @ $147.55.

Disclaimer: If you buy any of the above stocks because of this post, a fire breathing dragon will take a shit on your house. And, you may lose money.

I really do think going for the ‘Hail Mary’ put on [[GM]] is worthwhile. Apparently, they need to raise 10-15 billion dollars, in order to stay afloat.

No fucking way that happens, without pain.

On the GM death dance, I like short steel here. I like it so much, I am buying [[SMN]] here. That’s right, “The Fly” can’t lose.

Also, I hope you took my ‘fuck the industrials’ advice and bet against [[CAT]], [[TEX]] or [[FWLT]]. I still like them to go lower.

Finally, [[PZN]] will hit single digits. However, I cannot find stock to borrow. If you are lucky enough to get stock, then sell it short, go fuck yourself.

NOTE: I like short [[MXB]] here too.