Scratch That

I sold out of my ERY hedge. I am seeing a lot of strength building throughout the day. I much rather be cautious in cash, then in a losing position. Also, I just bought both ULTA and DECK. I am in DECK for the $100 roll, nothing more.

WNR continues to defy gravity. It may be time to take a look at other refiners. Spreads are so wide even an imbecilic moron can bank coin in the refinery business. I like ALJ, CVI, HFC and DK.

The banks are for shit. I sold out of ETFC.

I am up more than 15% for the year with nearly 60% cash. My main concern now is growing my gains without having to chase stocks. Should we get another down day or two, I will be actively shopping. So you know, the new PPT algo in development is spitting out hundreds of OVERSOLD names today. And, it is flagging OVERBOUGHT on some inverse ETF’s, like DRV and DPK. This makes me want to sit on the sidelines, instead of trying to play “Roubini the Great Guru” with assaholic short positions.

In true manic depressive fashion, I bought both ERY and GSVC.

NOTE: GSVC is the only publicly traded company, aside from GS, with an equity stake in Facebook. It comprises more than 15% of its portfolio.

I am not buying a Friday afternoon dip, following a mammoth run to the upside. That’s plain ridiculous. As a matter of fact, I am selling into this, closing out my CLF position and other loose ends. WNR is up because the stocks Gods favor it. However, just about everything else is lower, especially yesterday’s purchase of MWW. It happens.

With today’s sales, my cash position is above 60%. I am still holding a variety of call options in my personal, including TZA.

In short, go eat a sandwich and enjoy the summery afternoon. There is nothing to do or see here.

The road trip went well. I implanted some memories in the heads of the little ones, spent thousands of dollars on whimsical items for Mrs. Fly and fulfilled my inner curiosity delving through the archives at Constitution Hall. While digging through the DAR library, I had the opportunity to look though old directories, Brooklyn, circa 1912. I saw my Great Grandfather’s advertisement in it, dating back to 1912. How cool is that? I highly recommend visiting if you are ever in DC.

Despite being 50% cash, I was up almost 2% today, led by just about everything. It’s truly awesome and amazing seeing this magnificent squeeze roll. Most called it exactly wrong. Let it be known, I did not call the rally right. I called it EXACTLY right. Had you followed my footsteps with precision, you made yourself an extreme amount of coin inside of 2 weeks. Although the market can go higher, led by Johnny come Latelys, I am cautious here. Keep in mind, should we get bad economic numbers again, we are heading right back down to 12,000. This is the upper part of the trading range. You should be treading with caution here.

I will likely sell out of some more positions soon. I started pretty big ones in AXU and MWW. And in my personal, I like my chances with PSUN down here. However, barring a pullback, with a 14.5% YTD return, I will have a hard time justifying full investment here. As a matter of fact, I emphatically believe TLT will be the trade for August. We will discuss that when the time is appropriate.

For now, you should all rejoice in my splendour and celebrate the great many wins of “The Fly.” If you curry such a thing, summon great whores to your domain or drink profusely until you can’t feel your face. One way or another, I demand personal sacrifice as tribute to my winship. Failure to do so will result in the immediate removal of any and all unseemly facial hairs, by iron fist.

As I sit here in Amish country, enjoying the views, my WNR is shooting higher. For all of those who doubted me, I invite you to shoot a few rounds of a howitzer into your mug. It never was a matter of “if” but a matter of “when”, with regards to my winship in WNR. I can sell now and book 25% gains. However, like I said before, if I sell now I am no better than most of you. We all know, deep down, that simply isn’t the case. The only reason why I sold some last week was because it made up 40% of my overall holdings, a number meant for the criminally insane. I took it down to 20%, which is still very, very high.

My second largest position is CLF, shooting higher at the moment. I will sell some after the $100 roll.

VMW completed the roll today, gapping up near $106. Now it is behaving all depressed and shit, down on a big up day. Wait for it.

JCP was down a buck early. But now it is rallying hard. I still like the name.

Finally, I just stepped in and bought a shit load of MWW and a little DVR, to go alongside my earlier purchase of PSUN. My cash position is around 50% and my year to date gains are about 14-14.5%, year to date.

Remember when you were mocking my 5% YTD gain and I told you to prepare for “The Great Spectacle”? Yeah, eat a dick.

I bought 30,000 PSUN around $2.85ish.

Well, I spent most of my day visiting the Smithsonian, Ford’s Theatre and the Spy Museum, all very cool. We stopped by for a quick bite in Maryland and now find ourselves deep into Amish land, in the Lancaster vicinity. As told before, I intend to “blend in” with the mennonites and build furniture, in order to place time bombs in random houses.

As for stocks: they went higher today. So you understand, my TZA is only a very small position and only taken to hedge some longs in my personal account, while I am away. I will likely buy more JCP tomorrow and possibly some CIEN. Once again, the dicksuckers who were clamoring for a Greek led melt down lost again. Oh, let’s not forget the doomsayers who were panicking over a +54k jobs report. They were wrong too. The market will hit new highs. Unfortunately, it will do so without Senor Tropicana fully invested. I’ve made up plenty of ground and do not find it useful to risk much here, after such a big run.

Off to build a dresser.

Top picks: VMW, JCP

VMW is $100 rollin’ and OG Fly is counting his collard greens.

I bought 20,000 JCP and 40,000 AXU.

Disclaimer: If you buy the above stocks because of this post the next time you are on a date your credit card will be declined at dinner. And, you may lose money.

I got my chips ready. Now I am simply waiting for the dip (pun intended).

I just sold out of EXK and GORO, in order to raise more cash. It should be in the 70% range by now. I am eyeballing a few precious metal stocks. Other than that, I have little interest in buying up here. My year to date gains are +12% and I intend to lift them to 20%+ on the next series of trades.

You probably cannot fathom the amount of cash I am sitting on. Should you be short WNR, I am your worst nightmare, as I intend to catch any dip that presents itself. You mustn’t go about your business as if your head was stuck in a trombone anymore. The time is now to outmaneuver thy neighbor and toss garbage on his bullshit lawn.

I still long TZA and VMW calls in my personal. They have a way of balancing each other out. And, I own ETFC, even though it’s a piece of dog shit.