Get Ready for 50

I was out towards the end of the day; so I was unable to watch the egregious losses in my stupid inverse etf’s—which infect my holdings.

Unfortunately, for the bears, the market sentiment has shifted dramatically, as bad news is good news and good news is good news.

What’s important to note is the Fed’s desire to keep stock prices higher, in order to skirt a negative wealth effect. They will not disappoint wall street, for fear of a precipitous drop in stocks.

Therefore, “The Fly” may throw a few longs on the barbie tomorrow, prior to Bernanke’s decision.

Aside from monetary action, the financials, including the monolines, are on fucking fire, with “ricockulous” gains in [[WM]], [[BSC]], [[MBI]] and [[ABK]], as of late.

If we have seen the bottom, expect the market to trade up until late March. In other words, all of you overzealous bearshitters will be fucked, shortly.

UPDATE: [[YHOO]] blows again!

[youtube:http://www.youtube.com/watch?v=3JnVHUM12zk 450 300]

As you know by now, all the important people, like Dennis Kneale, sold out of all their internet stocks, for low-grade bank plays.

Aside from that, I’m not sure what the fuck is going on, but [[BIDU]], [[YHOO]], [[GOOG]], [[AMZN]], [[EBAY]], [[CTRP]], [[NILE]], [[OMTR]], [[VCLK]], [[OSTK]] and [[MNST]] are getting their fucking heads blown off.

Using that logic, one could make a strong argument that [[PCLN]] needs to get its head shot off too. After all, that stock is like 75 points over valued.

“The Fly” spits on PCLN from 100 yards.

Today, after the bell, the cow fuckers from YHOO will post their quarterly disappointment. I have personal experience dealing with YHOO; and they suck.

What’s odd to me is the current bullish sentiment in the market has decoupled itself from the net plays. Perhaps advertising rates are dropping off a cliff, as the writers strike continues and the mortgage market implodes?

Nevertheless, the sector is telling us something.

Are you listening, fuckface?

I bought 4,000 [[SKF]] @ $101.

Disclaimer: If you buy SKF because of this post, Bernanke will cut rates by 100 bps tomorrow. And, you may lose money.

One day before Bernanke shaves his beard on the market, stocks are ripping higher, with the notable exception of [[VMW]].

As you know, banks, homies and retailers have been leading the market, as crazy people deplete their checking accounts and “toss” them into egregiously bad sectors—for fun.

I must say, today’s durable goods numbers put a damper on the whole “we’re gonna die because we’re in a recession” thesis. Should we get strong employment numbers, later on this week, “The Fly” may have to “flip-flop” on you cowards and start buying stocks again.

Aside from the madness, I do like the refiners here, as they melt the fuck up. Right now, [[VLO]], [[TSO]], [[HOC]], [[WNR]] and [[ALJ]] have extreme momentum—thanks to VLO‘s kickass earnings report.

For a trade, take a look at [[DK]] for a sympathy bounce.

Within financials, finally, I found a stock worth buying: [[AIZ]], aside from [[CMO]].

In short, AIZ sells property insurance to banks who take possession of property, via foreclosure. So, as foreclosures rises, banks will be forced to buy property insurance, likely from AIZ.

A win-win for AIZ.

Finally, despite being tempted to average down on [[SKF]], I will wait until after tomorrow’s Fed meeting. There will be plenty of time to make money.”The Fly” finds no need to buy anything here, ahead of iBankCoin’s glorious “platinum party.”

UPDATE: I lied. I bought more SKF.

…to iBankCoin’s “Platinum Party,” celebrating the millionth page view, in less than three months since launch. All third tier bloggers will be checked at the door.

Festivities will begin on Wednesday, January 30th, 2008, aka “Fed Day.”

Dinosaur Trader, 3rd tier blogger, DinosaurTrader.blogspot.com

As usual, “The Fly” wins again.

Chalk up a humiliating defeat for Dinosaur Trader aka Leberace.

NOTE: Not only does this post prove that Kneale was referring to Danny’s pimp smacking insult of him on tv this afternoon, and not DT’s, it’s also the equivalent of three scud missiles heading for DT’s low-rent blog.

Developing…

[youtube:http://www.youtube.com/watch?v=6Z8cnXVGm1I 450 300]

Today’s melt up, erased Friday’s melt down. Quite gay, if you ask me.

Much to my chagrin, crazy people continue to press their bets in banks stocks, causing swift annihilation for holders of [[SKF]]. Despite ridiculously bad economic news, market participants are painting the pig with gold—snapping up asshat stocks like [[KBH]], [[PHM]], [[BAC]] and [[WM]] in size.

The downside of all of this optimism is a Federal Reserve let down. If so, prepare to die a very “unglorious” death, at the hands of filthy old bearish guys.

Quite frankly, I hate bears. As a matter of fact, even though I am bearish, I still wish all perma-bears a unique death, similar to the one’s featured in Final Destination.

On the long side, “The Fly” managed to pare some of his stubborn bears bets with gains in [[RIMM]], [[CLX]], [[GME]] and [[GD]].

In short, I am not willing to go “all in” on the bear side, especially ahead of an FOMC meeting. Additionally, throughout time, the market always seems to find a way to fuck the bears.

Lucky for me, I own a time machine. Therefore, I do not need to wait for “time to tell” anything.

Off to prepare several 2 1/2 inch rib eyes.

Best post of 2008.