Off to Dinner

Oooh this fucking rally has infuriated me to the point of sheer violence. Throughout the day, I broke two monitors, threw 9 bagels at my trader/servant and severed the photographic heads of 22 Gasparino pictures.

Sure, shit is bullish for the markets. We have gapping oil, wheat, corn, soy, natural gas, heating oil and sugar prices. We don’t need any of that shit. Just as long as [[ABK]] and [[MBI]] can get some love from the BANKING FOOLS, everything is sweet—like golden creamed corn.

Personally, I could care less about new home starts or “growth” in the economy. Frankly, I’m perfectly content with poor people living their pathetic lives out in dire boredom, subject to repetitive [[WMT]] “shopping sprees” and vacations to [[SIX]].

With the money I stole back from the homeless guys from yesterday, I will stand tall and sell to lowly people, like Dennis Kneale or James Cramer.

I could give two shits and a gay goat about your fucking charts or “new breakout plays.”

“The Fly” has his own agenda, which doesn’t include having his head lit aflame in erroneous [[SRS]] or [[SKF]] positions.

Until my ridiculous, but definitely pending, revenge punches out the teeth of Sam Zell, when dining out, I will send back the first dish served, in protest of this egregiously poor recession, telling the waiter: “Go cook this with more fervor. Next time I will not be so kind.”

May you chew on meatballs made from one of my gold bricks.

NOTE: Fuck you Charlie and your monoline news.

This rally will die without honor.

You’re welcome.

He did it again UPDATE: Fuck you Gasparino. May you chew on a meatball made from concrete.

Sometimes it’s helpful to take a step back and be objective, regarding the market. Unfortunately, I’ve been on the wrong side of a trade or market, numerous times, throughout my career. What’s important to understand, when positions are going against you, is the reason why you hold them (positions) in the first place.

And, when initiating or building those positions, make sure you have ample cash reserves to buy cheaper—just in case you’re wrong.

Personally, the last thing I want to do is admit defeat, sell my losers and succumb to “what’s working.” However, many times, that’s exactly what should be done.

For example: I should have sold all of my [[AAPL]] a long time ago. The stock has been a bowser in 2008 and has been a significant drag on my portfolios. Instead, I should have put the money to work in oil/natty or something else worth the fucking paper it’s written on.

With regards to my current short positions:

Rational people would suggest to run for cover, since the bull is back and the sellers have no balls. For now, sitting on top of good year to date gains, I will give myself a little more rope to hang myself with, while eagerly awaiting this run to fizz out. Keep in mind, I believe the market will be down between 10-15% this year. Being down a mere 5% (YTD) on the DOW doesn’t scream “fucking value” to me. Considering the 450 point run, in three days, I feverishly suggest selling twice over.

With that being said, doing my screens, I’ve come across a good list of stocks that are working (today)— and a few that are not.

Financials:

Good: [[BX]], [[FCSX]], [[FIG]], [[MBI]], [[JNS]], [[TROW]], [[COF]], [[C]], [[LEH]], [[ABK]], [[FMD]]

Bad: [[ABK]], [[RMG]], [[SDA]], [[ICE]], [[RJF]], [[GS]]

Retail:

Good: [[RSH]], [[M]], [[MSO]], [[BID]], [[AZO]], [[SHLD]], [[KCP]], [[BEBE]], [[BGP]], [[GES]], [[COH]], [[ZUMZ]]

Bad: [[KSWS]], [[LULU]]

Food and Beverage:

Good: [[LNY]], [[JBX]], [[BWLD]], [[TXRH]], [[ABV]], [[DRI]], [[HANS]], [[DPZ]], [[PZZA]]

Bad: [[COT]], [[GAP]], [[BAGL]]

Energy:

Good: [[NTG]], [[TSO]], [[DWSN]], [[STP]], [[CHNR]], [[PQ]], [[DPTR]], [[CLNE]], [[ARD]], [[FTO]], [[PDC]], [[CSIQ]], [[WNR]], [[ALJ]].

Bad: [[USU]], [[PKD]], [[NGAS]], [[YGE]], [[GASS]], [[LNG]], [[LDK]], [[TSL]], [[HOKU]], [[NWN]], [[BTU]]

Semi’s:

Good: [[TER]], [[CREE]], [[EMKR]], [[ATE]], [[SMTC]], [[SWKS]], [[FORM]], [[INTC]], [[KLAC]]

Bad: [[TSRA]], [[SNDK]], [[SIGM]]

Internet:

Good: [[NFLX]], [[CTRP]], [[PCLN]]

Bad: [[TSCM]], [[GOOG]], [[BIDU]], [[WBMD]], [[MELI]], [[EBAY]]

Trannies:

Good: [[GWR]], [[ACLI]], [[GBX]], [[OSG]], [[BNI]]

Bad: [[DRYS]], [[EXM]], [[NM]]

Metals:

Good: [[ERS]]. [[IIIN]], [[PAAS]], [[ROCK]]

Bad: [[ZEUS]], [[ZOLT]]

Industrials:

Good: [[DCO]], [[GRO]], [[CLX]], [[LAYN]], [[DW]], [[MHK]], [[KAMN]], [[VMI]], [[LNN]], [[LECO]], [[EXH]], [[WHR]], [[TEX]]

Bad: [[CRDN]], [[PCP]], [[IRBT]], [[TITN]], [[CSL]]

Hardware:

Good: [[DELL]], [[HTCH]], [[EMC]], [[AUO]], [[TRMB]]

Bad: [[AAPL]], [[RIMM]], [[DISH]], [[NNDS]], [[GRMN]]

Wireless:

Good: [[CNTF]], [[TKC]], [[VM]], [[IDCC]], [[SWIR]], [[MBT]], [[USM]], [[NIHD]], [[VIP]], [[MICC]]

Bad: [[SKM]]

Currencies:

Good: [[FXY]], [[FXE]], [[FXC]], [[UDN]]

Bad: Dollars

I bet you thought the market was gonna get its false teeth knocked out today, huh? After all, we are “enjoying” hyper inflation in food, at a time when the economy is contracting. However, the conundrum the bears’ find themselves in is rooted in the “forecasting” camp.

Everyone is “forecasting” a robust second half of the year. Therefore, any news that comes out now is ignored and spit at, by the buyers. These are very intelligent people, after all. Nothing matters, with the marked exception of price.

This whole rally has been wonderfully orchestrated, with fine precision. Shortly, we will hear of a deal to support the AAAA rated [[ABK]]. Then, out of the blue, there will be another deal for AAAAA rated [[MBI]]. After that, Bernanke will shave rates another 50bps and send the bears packing.

Get ready.

Developing…

Any pictures of “The Red Nuisance,” from this day on, are nothing more than Hollywood photoshops.

Developing…

UPDATE:

[youtube:http://www.youtube.com/watch?v=1YHu0sOM5N4 450 300]

It’s a lunatic market. What else is there to say?

Stocks go up, when they’re supposed to go down and vice versa.

One thing is abundantly clear: The bears are a bunch of old pussies, unable to ride a bicycle without training wheels, let alone drive this market lower.

Bottom line: [[POT]] is booking for $200. Retail stocks climb, despite a dead consumer. Bank stocks gain, on the backs of deceased lines of credit. In total, with the exception of a handful of tech names, the market is barely down, year to date.

This is supposed to be a “bear market” with a recessionary economy. However, investors are treating it like 1999 on vitamin B-12 injections—during boom time.

With the small amount of money I have left, I will throw money at homeless men in Manhattan.

UPDATE: The near Godly folks at iNo.com have agreed to give a free subscription, to the winner of the “Final Four” contest, offering two of their paid services for one year—with a total value is $548. Click on the myriad of of iNo ads for details (no, I do not get paid per click). More on this later.

I’m fully prepared to short more [[DECK]], above $140. While it’s true, lots of dumb bitches wear them. It’s also true, mall traffic is down significantly, in recent months. For a big growth play, like DECK, all you need is a slight blip, then BAM, down 50 bucks.

With my money, I’ve been shorting more [[LEH]] and buying [[FXP]] and [[SKF]]. Thus far, I’m content with my [[SRS]] position and will accumulate more, at lower prices—God willing.

Over the weekend, I did extensive research on ETF’s. It’s amazing to see how many bases the banking fuckers have covered. There is an ETF for just about anything.

A few spiked my interest.

I like [[DBV]] here. DBV gets long G-10 currencies with the highest yields, while short the lowest yielding ones. And, [[UDN]] shorts the dollar, against foreign currencies. In my opinion, both are good plays.

And, for a direct play on grain, minus the dilution of other commodities, take a look at [[GRU]], which gets you long wheat and corn. Or, do a little work on [[FUE]], which gets you long soy, corn and sugar.

Aside from that, there is a myriad of China and commodity etf’s worth mentioning. More on this later.

For now, just know, “The Fly” is not fucking around when it comes to the market. He is always 1,000 steps ahead of you and all of your stupid geeky friends.

Top pick: “The Fly”

[youtube:http://www.youtube.com/watch?v=w4jIpJSGL3c 450 300]

“Go buy yourself something nice.”