So, Like I Was Saying, Everything is Going to Collapse

My ETR purchase took cash levels down to 30%. I got cremated in many of my longs today. But, had I not sold yesterday, I would be attending my own funeral today.

Don’t be a zebra or a caitiff. Sell stocks and live to fight another day.

UPDATE: In light of poor market conditions, the generous folks at iBankCoin offer you a 5 day FREE TRIAL for The PPT. Enjoy.

I bought back the ETR that I sold last week, pretty much at my sale price. I did this because the market is falling apart.

I did this, mind you, because the market is falling apart.

We’re not done going lower. The energy complex is being torn to shreds, with exception to some larger cap names. Post sales, my largest trading positions are CLR and CYBR. There is too much distribution taking place and I have a mind that transcends the space-time continuum. It’s important that you come here daily, for your dose of reality, and sage investment advice.

Over the course of your miserable and apathetic careers, you’ve bounced around from one investment blunder to the next. Let me remind you that in order to avoid falling into murderholes, one must not walk in the mine fields.

Think about that.

It appears we are following the path of 2000, after all. But the correction is being masked by the mega caps in the NASDAQ and Dow, which are holding up well because they all pay dividends now. My thesis was very simple: the correction that began in March-April, then halted from May-August, would resume and tear down the share prices that rose during the summer months.

There are roughly about 4,000 relevant stocks that trade in the US markets. I am looking at a screen that states 364 stocks are down 20% over the past month. That’s nearly 10% of all stocks, publicly traded. I call that a correction.

Ground zero for the correction is energy. But there are derivatives of the energy trade who are suffering, such as solar and a slew of alternative energy names.

Here are some notable one month decliners.

PBR -31%

BBD -23%

CLR -21%

MBT -22%

SDRL -32%

QIHU -21%

AEM -22%

CREE -24%

BTU -26%

SLCA -24%

CMCM -32%

NADL -42%

CLF -43%

PDLI -22%

AKS -23%

DRYS -31%

HOS -26%

VHC -64%

TCK -21%

TC -25%

ANR -45%

AU -32%

CMLS -20%

THRX -22%

NPSP -21%

MTOR -20%

The ongoing correction is pervasive, broad based, and is picking up steam. This market is toast and you are a slice of melting butter.

I tried to run away from the clouds–but they caught up with me. Today marked a pivotal day for me, as I resigned almost half of my trading positions to the graveyard of failures. I could’ve worked with them and built them up, in order to exit cleanly. But, very simply, I was scared out of today’s market.

The problem that I had was concentration. I was too focused on energy and had several positions approaching -10%. At -10%, I either cut losses or double down. Looking at SOL, EMES, BITA and ARWR, I found nothing in those names that said they were going to trade higher tomorrow, so I cut them loose. I tried to hold them, Ringo, I really tried. But the dark clouds have followed me to this place and engulfed me in its bearish cloak of antiquity.

I cannot be more bearish than what I am now. Figuratively, I want the world to end now. Actually, I expect it will end, in a giant heap of smoldering ruins, skeletons atop of recycled bottles of water atop of barrels of oil.

I am still long TNA, CLR, CYBR and about 34 other stocks, all of which I expect will lose me a dramatically gay amount of money. However, friends and foes alike, I am afraid of my very own shadow. There are people chasing me in the halls and they’re after my purse (tinky winky). Every time I stab them in the neck, or about the face, they fall and die. But then 5 minutes later, like some sort of Miami Zombie, they’re chasing me again in the halls–grabbing at my wallet.

This all sounds pretty nuts to you, I know. Join me in Vegas this November 8th and see if you will make it out alive, or perhaps my shadows will chase you too.

I’m a gentleman and do not have time to bother with this sort of drab. This market has been fooling people since its been invented. But now, it has taken its trickery to new heights. I’d rather remain, stoically, in a cash prison, safe from the elements outside, than trouble myself trying to figure out when The House of Saud will stop turning the screws on the Bakken.

Life wasn’t meant to be this tedious and I’ve decided to wait for a better tape.

Yes, of course, like a true psychotic, I am reversing an opinion that I ever so eloquently, and rather forcibly, stated on Sunday, alluding to ‘panorama of perversion’ set to be released on an unsuspecting audience in short order. I intended to eat caviar and drink magnums of champagne for breakfast– and feast on extinct animals by night. But now, now, I am just a ne’erdowell–afraid of my own shadow (Saul Rosenberg), only interested in safe harbor.

I am very glad to learn that many stocked brokers were heavily margined out on GTAT and are now negative equity. Those people will be liquidated and re-submitted back into the matrix, to replenish the tree of life so that others might suckle from it.

In closing, the market isn’t your friend, but your enemy. It only tells you “I can be a friend to you” because it wants to rape you.

Don’t drop the soap.

I can’t say that I am happy about this outcome. I am glad to have sold PANW on Friday. But, on a whole, my departure from TLT, EXC, ETR, into spec names has been a let down. First, my sale of IFON was divine. I took half of the proceeds and bought SOL. I just sold SOL for a 20% loss. Considering where IFON is trading now, I still made out ahead, sort of.

With the TLT-EXC-ETR funds, I had purchased PANW, EMES, ARWR and BITA. I sold all of those stocks earlier today and have moved my trading holdings to a 40% cash position.

With the proceeds of PANW, on Friday, I purchased CYBR and am still holding it.

I am going to pay homage to “Robert” aka Analyst Bomber for calling GTAT’s bankruptcy far in advance of anyone else. He’s always been vocal about the company, but really dialed it up over the past few weeks.

Here are some of this recent notes in The PPT.

He also made a fantastic PEIX call, earlier this year, suggesting it was a steal sub $4.

Well done sir.

I had a lot of coffee this morning and got excited with the futures. After seeing this market trade for the past 40 minutes, I can say with unequivocal certainty that it is complete shit. The only torsos getting tossed, idly, into lit fireplaces, is my own. I don’t even want to discuss it, really. If I mention these ticker symbols that disappoint me, like a gay son, I will lose it.

Naturally, if the stock Gods wanted to reward me for my patience and vigilance, they’d jack the market higher, from now until the close. But this market has reversal written all over it, as the ebola, death ray, crowd, firmly take control of the reigns, ushering us into the fucking furnace.

Do you smell that? It’s the aroma of your own flesh being broiled in this short squeeze BBQ (so what it makes no sense). You cannot say your weren’t amply warned. I gave you days in advance notice and I told you we’d run like a fucking lunatic out of hell this week. Well, here we are, on this frigid monday morning, with S&P futures sharply higher. What a surprise.

Theoretically, should the market reverse and go lower today, that would be a negative development. But you know it’s never going to happen. Even though, as I write this, there is a dinstict uneasiness of a jinx at hand; but that too will not happen.

The sun and the moon, along with the stars, are all aligned in sublime harmony to take your entire torso and fling it into a lit fireplace.

OCTOBRE SHALL BE THE MONTH OF CHAMPIONS, the month we take the market back from the hounds who’ve been plaguing us for the past month. You will be dispatched and discarded, along-the-side-of-the-road, like pheasants or squirrels.

I know this is a rather aggressive diatribe and many of you aren’t ready for it yet. It almost has a sort of “una-bomber” like tinge to it, at 9am in the morning, on a freezer-like Monday. But it must be said. Therefore, I have spoken these words for the benefit of mankind.

This is my manifesto.