Elephant Man Rally

Who the hell is buying this rally, with bonds getting cremated like this? TLT is down a hard $2 this morning and no one seems to be concerned about that. See, it’s not the fact that rates are going higher– but the manner in which it’s happening. I don’t like it, not one bit.

The rally is much less than I had anticipated. I envisioned deformed men, stuffing whole biscuits in their mouths, while executing market orders for their favorite stocks: gluttony. Instead, we are getting birds, pecking away at the market, defecating on it when they’re done.

As of now, I’ve made back half of Friday’s losses. More than that, we are slowly but surely weakening. It’s getting dicey out there.

The good news is Japan. The NIKKEI soared last night, which bodes well for stocks like MTU, NMR and WETF here. It might be a good time to get back into Japan.

All in all, the market is higher, so I’m happy about that. However, I don’t like the tone and wouldn’t be surprised if we sold off throughout the day.

Nevertheless, I am 125% long.

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It was a very long weekend, book-ended by seafood banquets and central American cigars. Our graceful Commander in Chief, Barracks Obomba, gifted the Syrian regime with mercy– and has put the US congress in charge of declaring war. Being that the congress is unable to pass simple items, like the farm bill; suffice it to say, the market isn’t going to be plagued by the specter of yet another world war any time soon.

I don’t care if our President is evil or stupid. As long as the stock market trades higher, I am content. Plus anyway, the label “evil” is very subjective, which can be applied to just about any of you.

I am hoping to take back what I lost on Friday, which shouldn’t be an issue–considering SPY futs are +15.

If I had some coin to put to work and wasn’t such a degenerate, leveraged at 125%, I’d look at heavily shorted stocks that are down more than 10% over the past two weeks.

Here are some names, courtesy of The PPT

ONE, NES, P, ARO, PRKR, SCTY,LXK, BKS and HIBB.

PPT members can access this screen, here.

In closing, yes, The PPT closed OVERSOLD on Friday. It’s a time machine, god damn it.

Gentlemen (ladies aren’t permitted to read iBC after 8pm, as their duties of minding the dinner plates and washing the children are priority), prepare for gluttony.

NOTE: For PPT members only, the September seasonality report is out.

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http://www.youtube.com/watch?v=sFL42VuObI0

The good news is Obama doesn’t know what he’s doing. Therefore, war is not imminent. I believe he is trying to worm his way out of the whole mess, by blaming congress for being ‘cowards.’

The bad news is uncertainty will plague the markets for the next week, until congress votes down Obama’s war.

I expect a lift on Tuesday, only to be checked later by people who are afraid to hold through the congressional war vote.

In other words, these stupid bastards will hold the market hostage for the next two weeks.

The market is down just 15 points now, but a staggering 80% of stocks are lower today. That’s right, 80% of stocks are down. This is like a down 250 points day. Yet, here we are, cordially, down 15.

I am being lit up today, giving back most of yesterday’s gains. It’s days like this that remind you how tedious this business is. I am sure when you passed your series 7 exam, you figured you’d land Gordon Gekko as a client and you too would being living in a penthouse apartment on the upper west side. Instead, you’re just a jackass.

Ask me why IMMR and YELP are lower today, but ANGI and TRLA are up. Who knows!? The market moves in mysterious ways, under the black clouds of hurt.

I actually added to my leverage today, buying more GOGO. So, my exposure to the long side is nothing less than comical, considering the fact that our Warlord is teeing up Syria for a swing.

Maybe people embrace the machismo of The Obama, as he launches cruise missiles from a luxe golf course.

This market is, seemingly, going to hell in the hand basket and I am in the front seat, along for the ride.

NOTE: For those of you just tuning in now, After Hour’s with The Option Addict is now live. Webinar’s begin at 4:30.

http://www.youtube.com/watch?v=LGWmD7S6Ask

I added to my GOGO position.

I cannot believe what I just heard come out of the big mouth of John Kerry. In summary, Assad is evil and we have no choice but to attack him because Obama said he’d slap the shit out of him, if they happened to use chemical weapons.

So, let’s wrap this puppy up.

We are going to attack Syria, even though 9% of American’s agree with this course of action. More importantly, Congress has decided it doesn’t need to discuss this important matter, even though it might provoke Russia into a ‘fag-box‘ that it doesn’t want to be placed in, incidentally causing WW3.

Where are the pot smoking, patchouli wearing liberal anti-war protestors?

Does anyone else find it ironic that Obama and Kerry are presiding over a new war, due to WMDs, absent a threat to the American people, a la Bush?

THIS IS ABSURD, comedic and tragic.

We don’t have a say and our country has been hijacked by maniacs.

The markets have favored this course of action; because war is bullish for stocks.

We’re fucked.

I am giving back yesterday’s gains, slowly but surely, because of war.

War always gets in my way.

God can only help now, as the market are in sell mode (full zero hedge), ahead of the long, tedious, weekend. Who wants to go leveraged long ahead of WW3?

Answer: I do.

Let the sheeple “baaah”, while the wolves chow down on the fresh meat and blood.

Off to pray to the gods for a miracle.

We want to buy the dips, but make sure it isn’t a deep one. The hardest thing about this game is knowing when to double down and when to fold. Just know and remember that Rome, for lack of a better cliche, wasn’t built overnight.

Having said all of that, I want to raise a little cash, but have a hard time choosing the stock(s) to sell. I like them all and feel they’re all cheap. Some people position in and out, based upon a whim. I, on the other hand, base my decisions upon the opinion of my favorite urinal shadow. That is something you can’t ignore.

The weekend is practically here and I find little reason to make fast decisions, ahead of World War 3. Perhaps by the end of the day, I would’ve executed a sale, or not. One thing is for certain, FRO isn’t cool anymore. I do not like the direction of the company and would steer clear if I was you, which I am most certainly not.

The dastardly case of the financial website, Seeking Alpha, is a very curious one. They are the villains of public finance, the very bane of society, soiling all that is good with financial journalism. They pay huge sums of money to have their content displayed on Yahoo Finance, fueled by an engine of short selling stock manipulators. Frankly, how they’ve escaped the wrath of the SEC, being that their content is explicitly designed to send stocks lower, is a mystery to me. Their authors are betting against stocks before their articles are posted. Voila: instant profits! How easy!

I am sure a great many of them cover their shorts– immediately after their articles are published and the targeted stocks are punished, netting risk free gains.

Over the past two years, I’ve faded the sages who litter Seeking Alpha with amazing accuracy. They’ve issued reports on TEA, AFTER AN ALL CASH DEAL BY SBUX, based upon a ridiculous claim of ‘excessive’ pesticides in their products. I bought YELP in the teens, after an article was posted, exclaiming the stock was worth single digits, or worse. I bought DDD in the $20’s, after numerous hit pieces. And just the other day, they hit my AMBA for 10%, based on inaccurate reporting.

Let me touch on this point. The article stated that AMBA will miss earnings because ‘channel checks’ suggest a slow down at Chicony. What the author doesn’t realize is that production is being done at FOXCONN. We will find out who is right, soon enough.

Today, one of their bozos went after CVV.

Incidentally, I’ve been researching CVV, interested in taking a long position. I happen to be a believer in graphene and feel a small company like CVV might attract a fresh batch of speculators, providing they can execute. So the decline in the stock today is nothing less than a gift to me. Please note that I am giving this to you, the reader class, before I’ve taken down a position, something that a true gentleman, a man of my status, is expected to do.

It boils down to this. I am shorting Seeking Alpha until the lights shut off. I am going to bet against their authors often, and do so with vigor. I’ve witnessed, over and over again: they are wrong.

Feel free to drop a note in the comments section of other epic Seeking Alpha fails.

Good night and get ready for war.