Fly Buy: $ANGI

I am in it to win it. I added to my position.

Silver stocks are sharply higher today.

I believe 99.9% of you scoffed at my silvery suggestion last night. Granted, I didn’t buy any, as my money is tied up in other things. But the point remains: the unwashed masses are better off eating chickened mcnuggets than offering financial advice on the internets.

Well not technically, but the GDP numbers came in at -1%. God willing, Q2 will come in negative too, paving the way for even higher stock prices. Don’t even attempt to try to understand how futures are higher on this news, as up is down and down is up. It’s been this way for half a decade. All I know is this: Tupac Shakur was a great man.

You have to read the responding police officers account of Tupac’s final moments on this god forsaken planet.

“I grab the car door and I’m trying to open it, but I can’t get it open,” he says. “[Knight] keeps coming up on my back, so I’m pointing my gun at him. I’m pointing it at the car. I’m yelling, ‘You guys lay down! And you, get the f**k away from me!’ And every time I’d point the gun at him, he’d back off and even lift his hands up, like ‘All right! All right!’ So I’d go back to the car, and here he comes again. I’m like, ‘F**ker, back off!’ This guy is huge, and the whole time he’s running around at the scene, he’s gushing blood from his head. Gushing blood! I mean the guy had clearly been hit in the head, but he had all his faculties. I couldn’t believe he was running around and doing what he was doing, yelling back and forth.”

Carroll says when he finally was able to open the door, Shakur’s limp body fell out of the vehicle, “like he was leaning against the door.”

“So I grabbed him with my left arm, and he falls into me, and I’ve still got my gun in the other hand,” he continues. “He’s covered with blood, and I immediately notice that the guy’s got a ton of gold on — a necklace and other jewelry — and all of the gold is covered in blood. That has always left an image in my mind. . . After I pulled him out, Suge starts yelling at him, ‘Pac! Pac!’ And he just keeps yelling it. And the guy I’m holding is trying to yell back at him. He’s sitting up and he’s struggling to get the words out, but he can’t really do it. And as Suge is yelling ‘Pac!,’ I look down and I realize that this is Tupac Shakur.”

Carroll says he attempted to get a “dying declaration” of a potential suspect from Shakur, but the rapper was ignoring him at first.

“And then I saw in his face, in his movements, all of a sudden in the snap of a finger, he changed,” he says. “And he went from struggling to speak, being noncooperative, to an ‘I’m at peace’ type of thing. Just like that. . . He went from fighting to ‘I can’t do it.’ And when he made that transition, he looked at me, and he’s looking right in my eyes. And that’s when I looked at him and said one more time, ‘Who shot you?’. . . He looked at me and he took a breath to get the words out, and he opened his mouth, and I thought I was actually going to get some cooperation. And then the words came out: ‘F**k you.’ After that, he started gurgling and slipping out of consciousness.”

In other news, TSN is bidding for HSH. It appears there will be a bidding war for that pathetic company , between Tyson and Pilgrim’s Pride. I find it interesting how the suppliers of food are doing decidedly better than the grocers. I can only surmise the producers are successfully passing cost along to the grocers and the grocers are unable to raise prices at the stores.

Bottom line: heading into today’s trade I was optimistic about further gains in JAZZ and XON. After these deliciously negative GDP numbers, I am even MOAR optimistic.

Costanza trade-style.

Several weeks ago I warned the canaille of impending doom to be savagely imposed upon gold and silver traders. These men were prancing about the market place without shield, sword-less. Since then, these slack-jawed catamites have beeb arrested, left to die in a catatonic state.

When someone perishes on Wall Street, opportunity presents itself for the vultures safely perched above, watching scenes of tragedy unravel.

I give you “Death by Silver.”

Gold and silver are now trading inverse to Application Software stocks, as unbelievably stupid as that might seem. The layman, you, your friends, parents and smartest relatives, are victims of algorthimic order flow, originated from the JP Morgan Bank vaults, located 5 floors below 45 Wall. This is specifically designed to subtract dollars from your brokerage accounts, a modern day “planned shrinkage” assault upon the Third Estate.

I am sure by now, I’ve lost 95% of the readership. Let me get to the point.

Here are a few silver stocks that might be worth buying for a bounce, and their 2 week percentage losses.

CDE -16%
SSRI -16%
MGN -14.4%
EXK -12%

Gold

TRX -17%
DRD -17%
HMY -14%
SA -9.5%
IAG -9.3%

Separately, all coal stocks appear to be headed into the toilet bowl, down into the sewers, with most names off by 15-25% in the last two weeks alone.

I know the market appears to be constructive now, especially since we’re near new highs and all of the high beta stocks are rallying again. However, as of now, we are simply dead cat bouncing. The reason why I can say that with absolute certainty is because it’s true. The biggest losers over the past three months are now the biggest winners. All you have to do is screen for stocks down more than 30% over the past 3 months, and layer atop of that some technical factors and price action magic and voila: you have yourself a nice winner.

Be on guard for false breakouts.

As of now, I am still in the camp that this is simply a respite, along the lines of 2000. This is the bounce after the dip. We will rally until late June, then sell off through July. The market will, once again, rally in August, topping out in September, then enter a most horrendous and miserable Samsonite Hamburgalar bear market through December.

I can only hope to recover half of my losses, realistically. Perhaps by August I will be in a position to short stocks and double my gains as the market vomits on itself, salvaging my year. There is a long road ahead of us. Try not to let your weak-minded emotions get in the way of seeing things clearly.

NOTE: The PPT‘s 7 day hold on the QQQ’s, which was closed out yesterday, was sublime.

Congratulations to me: my year to date losses are now just 29%.

Thanks to the move in XON, I’ve cut down my losses to under 30%, which is entirely woeful by any standard north of Mexico. Go ahead and short the markets. Fall victim to your own idiocy, tricked again by the action in TLT. Let me remind you that TLT is going up because of foreign money and not because we are heading toward catastrophe.

Right now I am focused on two stocks: XON and JAZZ. I am looking over my lists (extra Santa) for new stocks to buy, ones that go higher and make people rich. As soon as I figure this stuff out, you’ll be the last to know.

Ciao.

I have a true story for you this morning. My window cleaner texted me this morning, complaining about the stock market and how it keeps making all-time highs despite the economy underperforming. He’s a gold guy, Tea Party extraordinaire, hater of Obama to the third degree. Guys like him, and Rick Santelli, would love nothing more for the country to burn under the leadership of Obama. It would justify their missing out, so to speak, on one of the greatest bull runs the market has ever known.

My response to his text isn’t important. What is important is the wall of worry that we seem to overcome each and every time the market runs into a snag. This time the depths of the decline in some of the high tech stocks was a little more worrisome than previous declines, causing a full Edward Longshanks rout of the sector. Lo and behold, all appears to be good now. The weather is getting balmy. Restaurants are buzzing and people are getting drunk again.

Gold and silver stocks are placed back into the ‘fag box‘ and WDAY beat earnings again, for what is probably a record for any single management team in the history of publicly traded companies.

I’ve upped my risk profile a little bit and hope to take some short term profits soon. I am not going to just sit back and watch my positions climb or drop. I intend to be very hands on with my holdings, as it is the only way for me to outperform the market.

I’m expecting a little profit taking this morning, followed by a late day recovery. We should post another up week and continue to rally from now until late June.

I have a whole list of stocks that are prime, ready, to rip. The common denominator of all the recent winners simply lies in the fact that they’re down more than 20% over the past 3 months. Indiscriminately, the market is bargain shopping in the trash heap, bidding up stocks that were tossed aside a few weeks ago: classic dead cat bounce.

I am going to give you tonight’s list of potential screamers, but accentuate one single name: XON

While it’s true, I am talking my own book here, having bulked up on the name over the past week. It has all of the rich characteristics of a stock ready to slap the ears off short sellers. More than 70% of the float is locked up by insiders and/or activist shareholders, leaving very little in the float left to trade. With about 20% of the float sold short, this could get very ugly, very quickly, should XON catch some fire. I believe it will, very soon.

Here are the other names on my list:

ALNY
IMPV
ICPT
ECOM
CRCM
MKTO
NOW
WETF
LNKD
RNG
N
SCTY
CNQR (OWN IT)
MBT
FUEL
YY

For the sake of my sanity, I will keep this brief.

Everyone believed when David Einhorn said we were in a bubble. They followed him into his bubble basket and then went to the SALT conference, to cavort with one another, drinking champagne and eating coconut shrimps. They made great speeches about “the end is near” and how the current stock market was to be “unsustainable” and we should “sell now” or forever hold our penises. The truth of the matter is, the retarded folks at SALT are now the sheep. They eat the grass fertilize our crops.

Since everyone is a hedge fund manager these days, no one is a hedge fund manager. I mean that in the colloquial sense that hedge fund managers are synonymous with smart money. Right now, they’re the dumbest money around.

Everything’s up again. The broken elevator action has been stopped and we are back in the black. As such and accordingly, I applied risk to my portfolios today by selling PG, FANG and buying loads of XON, IFON (very little) and CNQR.

I also sold out of my program purchase of QQQ, that was flagged by The PPT‘s oversold signals, for a 3 point profit.

I believe we have a window of opportunity here and I am trying to maximize my potential, without taking on too much risk. It’s a delicate surgery to perform. Then again, I am a Doctor in blogging, god damn it.

I overweighted this position, up 8% from basis. My short term target is $20.