Portfolio Imploding Lower

I see you “donut fuckers” chuckling, not laughing, at “The Fly’s” most recent set back. You’re over there, in your bullshit pleather chair, chewing on some tobacco, polishing up your Confederate flag, chuckling.

Keep in mind, if any of you said the shit you are typing in the comments section to my face, I’d be sure to have a jelly donut punched into your face, knocking your eyebrows clean off.

Today’s losses is resulting in bodily harm to others (trader/servant) at my office, as the marble paperweights and the bullshit printers get tossed around. Before the day is done, I will need “Frank the Contractor” to come here and put up some new sheetrock.

However, don’t worry, I’ll be sure to tell him to “take it easy” on the materials, since our friends in China and India need them.

It is very tempting to give into common sense here and cover my shorts and get long. All of my ag shorts are simply running away, while my bank shorts squeeze the fuck out of me. Truly an arduous situation.

To be careful, I will reduce my downside exposure—in order to finance better places to put money, such as betting against banks.

If I could get [[SKF]] under $105 again, I will back up the tank and put some in it.

As for [[SMN]]

I would like to see the inventor of this God forsaken ETF arrested and tried for “crimes against humanity.” Do not follow me into my folly.

However, one mans trash is another mans treasure. Nonetheless, it blows goat balls.

Finally, [[VMI]] reports earnings after the bell. I have a small position. With worldwide famine occurring, they would have to be absolute fucktards to mess up this quarter.

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According to the Government, inflation rose by a tepid 0.2% in March, not even close to giving a fuck. God willing, oil will march its way up to $400 per barrel, effectively poleaxing all of those poor fuckers who clog up NYC city streets with their bullshit “shitmobiles.”

Think about it, dear Sirs.

When gasoline is “vasolined” up to $30 per gallon, it will cost like 600+ bucks to filler up. This, as you know, will eliminate traffic and leave only the rich in cars. There will be no more delays during the morning commute to work. Clear sailing.

Plus, think about this pal, our steel manufacturers will no longer have to waste their time sending product to the losers at [[GM]]. They can just put that stuff on a ship and deliver it to China. Without a doubt, [[DRYS]] will trade up on that news.

Looking at some of the news, I am pleased to see the dollar at a record low versus the euro, since most of my savings is in gold/euros. The sharp, precipitous “death fall” of the dollar is good for U.S. corporations, like [[KO]] and [[CL]]. Fuck all of those people who want to “see Paris for the first time.”

[[BLK]] missed earnings, but who cares?

[[JPM]] beat and warned of more credit problems. However, Mr. Dimon is just talking shit, so that he can buy [[MS]] or [[MER]] for 2 dollars per share.

[[WFC]] smashed estimates and have demonstrated to Wall Street that they are true pimps, despite the fact that their capital reserves stand at a paltry 7.3%.

[[INTC]] fucking ripped the head off of their guidance, which, inadvertently, was lowered a month ago. Well done Sirs at Intel. You’ve mastered the ol’ “fuck you analyst, you’re dead” routine.

It’s a fascinating thing with INTC. Lots of poor folk are without rice, due to high prices. Apparently, those same people are forgoing food, in order to stockpile INTC chips. That is very shrewd thinking on their behalf.

After all, the Chinese are known for thinking 100-1,000 years in advance, unlike us backward Americans—who only think about what’s for lunch.

See, the Chinese are thinking “hey, forget about buying rice and feeding the family. Let’s just buy these chips from INTC. After we die, these chips will continue to increase in value so that future generations may be able to afford $1,000 per bag of rice.”

Regular JP Morgans they are. Or may I say, “regular Jamie Dimons.”

Finally, I expect to see the market take the fuck off on the 11.9% decline in housing starts newz [sic]. This, as you well know, is good news for everyone, except the poor schmucks who build houses for a living. What’s wrong with those idiots? Hasn’t anyone else told Mr. Joey Bag-o-Hammers that all available steel, concrete and construction equipment needs to be preserved here, so that we may supply our friends in China and India?

Geez.

Long [[DGP]]

NOTE: China reported inflation rose by 8.3% in March, up from 6.6% in February. And, they announced they will raise the reserve requirements at their banks to 16%, from 15.5%—which is a far cry from WFC‘s 7.3%. All of this is phenomenal newz [sic].

What is this “good news Wednesday” or something?

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Whoo-Hoo. Buy a few banks tomorrow now, or we’ll kill you. Asshole.

Hank Paulson, U.S. Banking Brothel, Goldman Sachs

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[youtube:http://www.youtube.com/watch?v=d9v8Np7v0Dk 450 300]

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The market is too boring to keep “The Fly’s” interest. As a result, I will be leaving the desk, in order to do something fun.

Keep looking at your charts and shit. I’m sure they will help you get rich.

As for the market:

It is a ticking time bomb. While many of you find it “fun” to trade in and out of stocks, like fucking degenerate OTB guys, “The Fly” builds his positions over time and waits for bigger moves. If you want quick picks, check out Ragin, Wood or Danny for some hot breakouts. They’re all very good.

Once upon a time, “The Fly” would trade like that. You know, quick, fast, bang zoom. However, with time and numerous blow ups, I decided it was not for me. Instead, I rather stick to a theme and beat it to death, until I win.

Will the market close up for the week?

Who gives a fuck? Really.

Wait until commercial loans start blowing up. Just-fucking-wait.

Frankly, I do not expect any large moves, until September. All of you “corn-can fucking misfits” can call bottoms and exclaim: “the economy will rebound in the 2nd half.” I, on the other hand, will take the other side of that trade and predict we will not rebound, until the 2nd half of 2009.

In the meantime, get ready to endure a myriad of earnings misses and “CROX-like” declines on those misses.

Top pick: short [[MS]]

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[youtube:http://www.youtube.com/watch?v=JFVN59sR4lY 450 300]

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BEHOLD:

1.  [[SMN]]

2. [[SRS]]

3. [[FXP]]

4. [[DGP]]

5. [[SKF]]

6. short [[LEH]]

7. [[REW]]

8. short [[WM]]

9. short [[MS]]

10. [[RIG]]

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If I was President, I’d place the CEO of [[STT]] under house arrest, for pulling the shit he pulled today. I thought STT had not been affected by the subprime debacle? I thought STT was the cream of the crop?

Wrong.

They’re just like everyone else. The only difference: they have a CEO who is dishonest, who was trying to pull a fast one on Wall Street.

A regular huckster, if you will.

Aside from that, there is marginal strength in the banks/brokers today, with gains in [[MS]], [[RF]], [[NCC]] and [[CORS]].

I would wait a day or two, then short the banks with “impunity.” They’re probably due for a short term bounce here.

Finally, it’s Godly to see a small decline in ag related names. The Lord knows “The Fly” prays for their destruction on a nightly basis. The top losers include: [[GRO]], [[TNH]], [[CF]] and [[AG]].

NOTE: In case you were wondering, oil at $113 is not bad for the consumer—it’s HORRENDOUS.

NOTE II: [[FXP]] is a pain in the ass, because [[CHL]] is its biggest component. Two other alternatives include, short [[CAF]] and short [[LFC]]. CAF is an ETF. LFC makes sense because those fucktards invest their premiums in the Chinese stock market.

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Chinese property stocks are plunging for the second consecutive day on reports of property value manipulation. Apparently, the Chicoms have a future subprime issue in the making.

Here are some quotes of Chinese property stocks, which happen to be plunging:

Poly Real Estate

Zhejiang Guangsha

Citychamp Dartong

Sino Construction

Shenzhen Heungkong

Tianjin Reality

Gemdale Corp.

Long Yuan Const.

Tengda Const.

Shanghai Fenghwa

Shanghai Xinmei

Shanghai Indust. Develop.

Jingneng Property

Read this, a little dated, but still relevant.

America is Going Bankrupt UPDATE: Watch this!

[youtube:http://www.youtube.com/watch?v=OS2fI2p9iVs&eurl=http://www.ibankcoin.com/dannyblog/index.php/2008/04/14/uh-oh-spaghetti-os-us-govt-comptroller/ 450 300]

Hat tip: Danny

Wake Up Woodshedder UPDATE:

Goldman & Wells predict market plunge.

David Kostin, the chief US investment guru for Goldman Sachs, expects the S&P 500 index of Wall Street equities to plummet a further 15pc over the “near term” as companies scramble to lower their outlook for this year.

“Although only a few firms have reported first quarter results, early signs are awful. We expect a swath of lowered profit guidance,” he said in a research note published today, entitled ‘Fasten Seatbelts’.

Hat tip: Mr. Mortgage

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[youtube:http://www.youtube.com/watch?v=98i4s9iKBQo&feature=related 450 300]

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