KILLING IT

I have 5% of my assets getting manhandled via EXH short. I kicked out my VXX hedge when it was +.50 and I sold out of RENN for a 10% loss, thanks to the art of Chinese fraud.

Everything else is absolutely killing it, from GSVC to EXK to AG to CIEN to NFLX. That’s right, NFLX is now my second largest position, long from $80 and I doubled up my position today when it was +.55. In other words, all of my RENN losses, AND MORE, have been made back. All thanks and praise go to the stock Gods. Without them, Senor Tropicana would be playing shuffleboard somewhere in Brooklyn, killing people for sport.

My other Chinese burrito, BORN, is lifting today. But I have little to no faith in Chinese baiju.

I know this market doesn’t make any sense to you. You read the headlines and become confounded by the inverse price action to logic. However, there is a small group of investors out there, cloaked by the secrecy of shadows who knew this rally was coming and will know when it is time to fade it, all supported by the irrefutable laws of mathematics and science of course.

“The Fly” SHOMPS inside The PPT, as it is his burden and task to manage money on an elite level, day in and day out.

EXK

NFLX

AG

I sold out of VXX and applied said monies towards the three stocks mentioned above.

Ahead of the Groupon ipo, I added to my GSVC position.

Groupon is gonna rip tits.

I think I broke my entire hand from punching the shit out of my desk. Fucking RENN tanked today on some article, written in the devil’s language (chinese), sending shares down as much as 10%. What is a person, such as myself, supposed to do when some fuckfaced article in Chinese is calling RENN a fucking liar? I had no choice but to sell and lock in a cocksucking 10% loss. Remember, I was +15% on this same bitch of a whore a few days ago.

The fucking Chinese are a disgraceful people. Shame on their house. I look forward to the day when US aircraft carriers launch drones on Beijing.

With the proceeds, I bought AG and EXK–lots of it. Fuck the world. I hope it blows up and erases all traces of human life for eternity.

I am a bit frazzled this morning. I wish I could write the word “frazzled” in squiggly letters, but I can’t–so this will suffice. Oh, boiler room JEF is getting its cock punched off. See, just when you thought you were having a bad day, some group of assholes are blowing up their franchise. Brighten up Francis.

With regards to JEF: it was down 20% on EUROLAND exposure. This whole thing makes no sense, at all. What the fuck is JEF doing with anything European? These idiots tried to be Goldman, but instead got eaten like a goldfish. Nevertheless, LUK owns 28% of JEF–just in case you were wondering.

Finally, I sense this mornings dip is complete. I need to do two things: 1. recover from this RENN loss. I am pretty sure I will accomplish “suchness” long silver. And, I need to make up for the sheer fuckery taking place in my singular short EXH. Isn’t that sweet? The company is HEMORRHAGING money yet goes full retard to the upside, while WNR yawns it our following great numbers.

The world is backwards and inside out. But then again, it’s always been this way. It’s just amplified when dealing with news events through stocks, which in turn makes us all big fucking drama queens, in one form or another.

UPDATE: I sold out of VXX

UPDATE: I doubled my NFLX position.

Well, it appears the Greek government is collapsing, paving the way for a brand new set of assholes. No one really knows what the new government will say, with regards to austerity and the bailout package. For all we know, the new guy will be a fucking lunatic. I’d be careful chasing stocks here if I was you.

ANF is getting crushed and ANR is soaring. It’s a tale of two cities in the retail and coal space, at least for today.

The ECB cut rates today, but so what. The ECB is way behind the curve.

Short and succinct: I don’t think we should be up so much today. I am hesitant to chase, but reticent to sell longs. In other words, I am in a holding pattern, with a bias towards “something BIG is gonna happen soon.”

In the interim, I will be looking for short term trades.

Okay, I’ve been thinking about the morbid absurdity that is Greece and have concluded this whole drama is staged, conducted by the clever German and French bureaucrats. Think about it. They cannot save Greece and Greece needs to get the fuck out of the EZ, else there will be a popular uprising in Athens. So, they showed a “best efforts” attempt to “save” Greece, but really told Papandreou to fuck off. Instead of kicking Greece out of the EU, the clever political hacks will make it look democratic via popular referendum vote AGAINST the EFSF by the Greek people.

The EFSF is very much real. However, it will be used to ring fence Italy and Spain, before their yields blow out.

The most likely scenario is as follows:

The markets trade in a volatile range to reflect the uncertainty of the Greek vote, which is ridiculous because we all know the outcome. When Greece opts out of the EU on 12/4 via failed referendum and files for bankruptcy, markets will SOAR–just in time for X-mas.

Why?

Because, believe it or not, the market wants Greece the fuck out of the EU. The haircuts will be severe, upwards of 70%. However, this will coincide with the official denigration of the euro via quantitative easing. The EU will print money and paper over everything.

In summary, the Germans and the French bought themselves time by pretending to bail out Greece. Markets stopped plunging and they soared, until recently. As we speak they are planning for the Greek bankruptcy and how to paper over the losses.

I don’t believe, not even for a second, the Greek Prime Minister sought out his conscience via unnecessary and unwarranted plebiscite– after so many months of drama. He wouldn’t do that to the French and German leaders, who put their cocks on the line (Merkel included)–no fucking way.

In short, they are still in control and will surprise everyone with their next big bazooka. My plan is to remain long VXX because volatility will reign supreme. Also, I will continue to buy silver and gold miners until they make up 35% of assets. Right now, they stand at 20%.

I am at my limit, with just 10% left in cash. I’ve had my fill with the long side, heavily invested in EXK, AG, CIEN, NFLX, RENN and WNR–just to name a few. On the short end, I am in VXX and short EXH. Based upon the irrefutable laws of mathematics, the market is rising today.

In this world, there are certain axioms that hold true. The PPT is one of them.

For those of you who doubt my pimp-hand, I intend to smack you with it. On the beard of Benjamin Bernanke, we shall have a rally, AND MORE, then scurry down the wormhole to enjoy the horrors of another great depression.

I don’t mean to sully you by calling you names and/or speaking to you with an overbearing condescending tone. But you must understand, I am very busy preparing for elaborate celebratory engagements, as iBankCoin turns 4 on November 12th. It’s been quite a ride since I’ve started this campaign, transforming iBC from a bullshit five finger website– into a fucking fist. Over the years, iBankCoin has undergone many transformations and bloggers have come and gone. But what we have done recently, adding the Blogger Network and ramping up our Financial News arm will elevate this site to levels that only God himself can see–even if there isn’t such an absurd thing.

In summary, I am very long here, but holding onto legacy hedges “just in case.” I am not bullish or bearish, but advantageous.

Off to see about some gorilla with cocaine leaves in his mouth banging on my front door.

We are oversold. I cannot eschew a risk off position following a two day 600 point decline. I will milk the upside, then step aside. However, it’s worth noting, Italian and Spanish yields are moving higher. And, surprisingly, both French and German yields are spiking today.

But, let’s be clear, US yields are spiking too. So, I think it’s fair to say the rise in German, French and US yields is simply a consequence of “risk on” in equity markets.

The Greek situation is a nightmare. What the EZ needs to do is ring fence Italy and Spain. If they can do that, while tossing Greece into the Mediterranean, the sovereign debt crisis will subside. These debt laden governments cannot function if the cost of capital keeps rising. Italian 10 yr yields need to be south of 6% soon, else investors are going to freak the fuck out and equity markets will crash.

One way or another, policy makers will inflate. They’ve decided to extend and pretend a long time ago. The main beneficiary of rapidly depreciating fiat currencies is gold/silver. For a long time, I’ve resisted the notion that gold/silver was a safe haven because “I can’t buy anything with gold.” Platitudes gets you nowhere. This is about preservation of capital and asset allocation. If the belief is Euros and Dollars aren’t safe, people with big money will need to transfer to hard assets.

There are several obvious choices: art and collectables, real estate, wine, stocks or gold/silver. The problem with stocks is they are tied to economic output. Art and other collectibles are great, but illiquid. Suffice to say, gold and silver is where the money will flow, indefinitely.

Top picks: EXK, AG, RENN

Do you see that asshat on the left? His name is Dick B. Handler and he is the CEO of Jefferies, ticker JEF. Forget about the other caveman in the picture with him for a moment and appreciate the lunacy of his name. Fuck his parents. As a rule, all banks run by men named “Dick” trade to zero or get bailed out. JEF, an old Guy Adami favorite, said they have limited exposure to PIGS sovereign debt. Well, the market wishes to put those words to the ultimate test, via taking the stock out and shooting it.

When the shit hits the fan, firms like JEF will be cannon fodder for the large banks. If the snowball gets rolling, I want to short custodians again, like BK, TROW and asset management asshats LM.

People want no part of this market. Asset managers will lose assets, by hook or crook.

Speaking of crook, the former Governor of New Jersey, big democrat hot shot Jon Corzine, was dipping into retail accounts to fund his trading desk. This a big no-no and he should go straight to jail for it. Jon stepped into MF and levered up the balance sheets 40:1 to buy Portuguese debt at $94, only to see his whole institution blow up. Desperate to stay in the game, the criminals at MF dipped into client accounts and blew $100 maybe $200 million to smithereens. People who cleared via MF cannot trade and are now enjoying the luxuries of escrow. They only get to lose coin, as commodities get smacked around.

I blew this trade. I had 10% of assets in TLT and kicked it out last week. Shame on my house.Furthermore, I had 15% of assets in VXX and sold half into panic. The only reason why I kept 50% of VXX and all of my EXH short is because of Italian 10 yr yields. They weren’t dipping, as the market firmed. Due to appreciation, my short exposure is now 15% of assets and I am within 3% of my basis on VXX, up from a -26% hole.

Fuck me running sideways with a turnip.

For the day, I lost just 1.5%, thanks in part to EXK’s late day surge. I added to AG too and kicked out ERY. I do not want much short exposure going into clam-day. Ben has a certain swagger about him that puts fear into the hearts of every bearshitter. It’s a low probability trade betting against him now.

Holy shit I am conflicted between good and evil. On one hand, I want to load up on TVIX and launch scud missiles heading towards the stock exchange, just to see black smoke emanate from Wall. On the other, the contrarian in me, amongst SHOMP, says this is some bubble gum bullshit, nothing to see here but the wind rustling a few leaves.

Here’s what I do know, for a fact: uncertainty is back in vogue and the cocaine addled gorilla with a naked ass hanging out of the limousine is dead. All we have to trade on now is news headlines, which are controlled by complete imbeciles.

Fuck this shit, I am not selling a single share of stock, despite my belief that it’s all falling down. “The Fly” will dine with dignity amongst the rubble.

As I write this news broke that Greece was just kidding, ROFLMAOLUZ! They aren’t really going to call for a referendum vote on the bailout. Instead, they’ve decided to sodomize the Germans for their treasury. Fuck Greece and feta cheese.

Everything is ass-backwards. Generally speaking, I spit on all of you readers who claim market dominance. Fuck, if I can’t get a handle on this shit, none of you ball-shiners are nailing it. None of you.

You know what I’m gonna do? I’m gonna buy millions of dollars worth of silver stocks and prepare to kill werewolves. These government hacks don’t give a shit. Nationalism is dead; therefore, they will extend and pretend via funny money.

Bottom line: gold and silver trade higher.