PRONOUNCEMENT: THE MARKET IS NEVER GOING TO PULLBACK AGAIN

FORGET ABOUT GOING ON VACATION OR ACTING LIKE A GOD DAMNED FOOL AT A LUXURY AUTOMOBILE OUTLET. THERE ISN’T ANY TIME IN THE DAY THAT AFFORDS ME SUCH ECCENTRICITIES. I, “THE FLY”, AM BUSY ALL DAY INSERTING ORDERS, WITH PROLIXITY, INTO MY MACHINE, WHICH THEN PURCHASES SHARES OF PUBLICLY TRADED COMPANIES FOR ME AT DISCOUNTED PRICES, OF WHICH I SELL– AT A TIME TO BE DETERMINED– BY ASTROLOGICAL MEANS– FOR PROFIT, AT MUCH HIGHER, ELEVATED, PRICES–FOR THE BENEFIT AND ENRICHMENT OF THE HOUSE OF FLY (god damn it that was good).

WHILE YOU PARTAKE IN HOMOSEXUAL EXCHANGES AT YOUR LOCAL GOLF COURSE AKA “THE OLD MAN MUSEUM”, “THE FLY” IS BANKING COIN, LISTENING TO AFRICAN JUNGLE MUSIC, STARING AT THE SPEARS HANGING ABOVE HIS MANTLE.

AS YOU EAT CHEESE AND BREAD, EVER-SO-GENTLY, DIPPING INTO A SMALL VAT OF OLIVED OIL, “THE FLY” IS MOVING AMONGST THE SHADOWS, ARMED WITH KNIVES AND TNT, LIT FUSES, IN SEARCH OF HIS PREY.

CONSIDER YOURSELF SOMEWHAT FORTUNATE TO BE ALIVE DURING THE ERA OF “THE FLY’S” INVESTING RENAISSANCE. YOU SHALL BE ABLE TO TELL THE GREAT GRANDCHILDREN–JUST PRIOR TO YOUR DEATH– OF THIS ELEGANT PERIOD OF INVESTMENT SUPREMACY, MOST APTLY DEMONSTRATED FOR THE ENTIRE UNIVERSE, HERE, AT iBankCoin.com.

Good Day.

I just want you to know that when you see me buy micro-cap stocks it’s always a very small investment. Today I bought 20,000 CRDS at around $1.90. If the stock gets cut in half, I am prepared to lose 50%. We are in the late stages of the melt up and these are the stocks that can make you quick money. Granted, there is nothing honorable about selling CLIR for a one day profit of 36%. But it’s fun to do, nonetheless.

My short positions in AG and JCP went higher today. They are both 3% positions and do not warrant immediate attention. It is my belief that both will trade materially lower and I don’t expect that to happen overnight. My other short, CCL, looks like hell–ready for a leg lower.

It was a good close, a solid bull market surge into the bell. By my calculations, I have approximately 3 weeks left to enjoy this run. After that I am going to a large cash position. In the meantime, I intend to dwell in the gutter, with snipes, parlaying in and out (no sashay) of vagrant, vagabond securities with the explicit intention of realizing short term profits.

I bought a small position in CRDS.

Pure gambling, nothing more.

My exit on CLIR was sublime. Truth be told, it wasn’t a very big position, just 30,000 shares. But I made more than $50k overnight, so I can’t complain. It’s true, The Devil is positioning into CALL. But be warned, the law of averages catches up to us all. After seeing both PAMT and CLIR go haywire, I am tempted to go all in on CALL. But I am reminded of all of the times when hubris nearly destroyed me, so the position shall remain small– at around 7% of assets.

My other positions are not working today, with a general weakness foreshadowing what should be considered a terrific bull market.

I am waiting for BZH, USG, HLF, WNC and RAS to move higher. Until then, I am biding my time, looking for the next deal.

I booked a 36% overnight gain in CLIR.

h/t: The Devil

A new front on the war to “Kill Bill” has opened up.

Dinan, who heads York Capital Management which manages $15.1 billion, this week told an audience at a Morgan Stanley investing conference in New York that the firm is shorting JC Penney’s debt, effectively taking a dim view of its future.

That puts Dinan at odds with Ackman and his $12 billion Pershing Square Capital Management hedge fund. Ackman has become a big JC Penney cheerleader since his firm started buying the stock in 2010.

Ackman is now under pressure from big-name investors taking the opposite side on two of his positions – the other being nutritional supplements company Herbalife Ltd in which he has a $1 billion short position and has been battling hedge fund manager Daniel Loeb and legendary investor Carl Icahn, who have both taken long positions.

A spokeswoman for York declined to comment on whether the hedge fund is betting against the retailer’s debt.

Morgan Stanley’s high yield bond desk is also betting against JC Penney bonds, said a person familiar with the firm. The firm is betting on a decline in the value of the retailer’s bonds using credit default swaps.

A Morgan Stanley spokesman declined to comment.

 Source

York Capital join the cabal of like minded gentlemen who are opposed to the success of both Ron “Business Man” Johnson and “Montauk Bill” Ackman.

Before JC Penney dies, it will respond violently, volatile, whip-sawing both longs and shorts alike. Nonetheless, the trend is firmly to the downside, in both equity and bond prices–let alone the underlying business. For now, it is a 3% short position of mine.

I’ve been through the best bull markets and the worst bears throughout my career. I’ve enjoyed two frantic bubbles and multiple implosions. We are in the midst of what is going to be viewed upon as a renaissance for degenerate gamblers, people who could only make money when markets traded up–every–single–day. And it did.

Over the past month or so, I’ve been knocking the ball out of the park, through the building outside the stadium, and into people’s faces. Web traffic is meh, similar to the response I’ve gotten from people in real life. No one cares. If you are interested in the mystical world that is the stock market, you are in the minority.

The craziness of Europe and flash crashes, following the unbelievable stupidity that was 2008, has driven the retail client out of stocks. Most of the people that I know, who have a lot of money, are buying real estate again–not stocks. No one trusts the market because it is widely believed to be unfair and inequitable.

Look what they’re missing out on.

Fools.

I kicked out of my BX and MTU positions for handsome gains. BX was my largest holding, but not anymore. I’ve replaced part of it with RAS. I intend to make RAS my largest position, which should mark my final salvo of extreme risk taking until the fall. As you know, I intend to “cash up” near tax day.

I purchased CLIR, based upon the musings of The Devil. Being that he’s had an incredibly hot hand, I gave it a go. I am looking for $8.

It looks like I am finishing out the day up another percent, pushing my gains to +20% for the year. Keep in mind I’ve done this for the past two years, this being the third, only to give most back in the 4th quarter. Things will play out differently in 2013; I promise you that.

At the present, my largest positions are USG, RAS, BZH, WNC and HLF. Both CALL and my JCP short are respectable–but within the bounds of reason.

Another day floats by and another win is chalked up for Señor Tropicana.

I started a position in RAS.

I started a small position in CLIR.

Disclaimer: If you buy this stock because of this post, The Devil will claim your soul. And, you may lose money.