Fannie Mae is Back!

Can you believe this?

Apparently, they are banking ridiculous coin and rumors are swirling they may reinstate a divvy. I must be dreaming.

Fannie Mae and Freddie Mac (FMCC) seeing sharp gains over the past few days (0.66 +0.15)
FNMA is +127% since 3/14 and FMCC is +103% over the same period. The move follows news that Fannie Mae filed to delay its annual report (10-K) but said it expects to report significant net income for the three months and the year ended December 31, 2012.

FNMA delayed its 10-K due to the need for additional time to analyze whether conditions existed as of December 31, 2012 that would require Fannie Mae to release any portion of the valuation allowance on its deferred tax assets in the fourth quarter of 2012. The release of the valuation allowance would have a material impact on the company’s 2012 financial statements and result in a significant dividend payment to the U.S. Department of the Treasury under the terms of the Variable Liquidation Preference Senior Preferred Stock, Series 2008-2.
Fannie said that if they conclude the valuation allowance should not be released in the fourth quarter of 2012, they will continue to evaluate the need for the valuation allowance in future periods. The valuation allowance on its deferred tax assets was $64.1 billion as of December 31, 2011 and $61.5 billion as of September 30, 2012.
Importantly, FNMA said that regardless of the decision to release or not release the valuation allowance, it expects to report significant net income for the three months and the year ended December 31, 2012, compared with a net loss of $2.4 billion for the three months ended December 31, 2011 and a net loss of $16.9 billion for the year ended December 31, 2011.

Yeah, Freddie is back too.

I allocated the BZH monies into CTRP and YOKU.

UPDATE: I bought HIG, a play on Japan, with HIG’s exposure to the NIKKEI.

UPDATE II: I bought ANR

I sold out of BZH for a 3% gain, solely due to today’s action. The homies are up huge, yet BZH is flat.

Unacceptable, so it’s out.

Because Europe is interested on exacting a financial attack on Russia, the banks in Cyprus will be closed until Tuesday. Keep in mind, the Russians have more than $20 bill in deposits in Cypriot banks and conduct $250 bill in business transactions annually.

An attack on Cyprus is an attack on, umm, Russia.

Odds are Russia will attack Europe with nuclear missiles after the bozos from the EU steal their money.

As always…developing…

I added to my BV position and have another stock on deck.

Stay tuned.

Fool me once…

I sold out of my largest position, RAS, for an 11% one week return. And, I kicked out WNC for a 2% gain. With these sales, I am no longer leveraged. Instead, I am in a 15% cash position.

How stupid can one continent be? The penis-less euro fags are too afraid to bail out Cyprus without blackmailing and stealing money from the Cypriots, so the Russians stepped in to fill the void. Cyprus is part of the EU, not the Warsaw pact.

If anything, the absurdity of Cyprus should remind us they (the europeans) are not to be trusted. The next financial crisis, without a doubt, will come from the noses of those great bastards. I want to punch every single european in the nose, then run them over with one of those miniature italian scooters.

The S&P futures rule the world. As you can see, it likes the Russian bailout talks, since it forces the hands of the eunuchs in Europe. When the futures went down on Sunday night, everyone panicked and told the Europeans to STFU and quit stealing money from old greek ladies.

Right now I have a few contractors in the house, attempting to fix the catastrophe that the plumber left behind. That stupid bastard literally punched holes through my coffered ceilings, like Donkey Kong through wooden barrels. The incompetency of some people is amazing–but I am never, ever, surprised.

I’m not declaring victory yet–but I should bank some coin, or “chedda”, as some of you ghetto types like to call it, throughout today’s trading session.

Inside of The PPT, I have a special screen to identify early breakouts, fixing the algorithms to search out a particular geometrical formation. It’s a sideways, consolidation, pattern that portends to a great many breakouts. Members of the club know exactly what I am talking about. You can access the screen by clicking here (members only, bozo).

Go to Chartpin.com to acces Fly’s Lab Top 10 picks.

I’d like to break my computer brain into a million pieces now. Nonetheless, even if we dip, it’s going to be short lived–as we have a finale to undertake before the United Steaks of America pays their fat taxes.

The technicals of the market have deteriorated appreciably over the past week. We’re not at a point where the market is oversold. As a matter of fact, the current trend is just fine, going up. But there has been an undertone of weakness, easily detected by my vast array of super computers inside of The PPT.

Here are 10 technically oversold stocks and 1 overbought ETF. This is a 12 month algorithm, meaning each time the stock hit these levels of the past 12 months, XXX happened. Moreover, the holding period is 5 days, so if they go down tomorrow or the next day, shut the hell up about it and read the freakin’ post.

And the sole notable overbought ETF.

Yes, VHC is at the top of the list. No, I didn’t make it go there.

I am doing rituals, killing goats on altars, smearing blood all over my face, making offerings to the Gods. I command thee to TRADE UP and smite thy short sellers, yonder, into the basements of hell, where they shall be hit by lightening bolts (ignore physics please), repeatedly, and devoured whole by wild boar.

“The Fly” doesn’t want to lose money, if even for a single second. He wants to make money all the time, at the expense of others– in this case short sellers.

However, let it be noted, these policies do not apply to distinguished gents who might be betting against “low brow retailers”, broken toilet bowl cruise ships or any company who believe their product will displace the US dollar (miners).

Off to the hardware store to get my Bob Villa on.