Fly Buys: VLO, TER

I bought 50,000 VLO and 35,000 TER.

I think you know why stocks are up today. It’s not because the Japanese plugged in their retarded nuclear bomb plant or because we were oversold. We are going up because Wall Street loves to celebrate the best holiday ever invented: St. Patrick’s day. It wouldn’t matter if Martians were laser beaming people’s faces off right now, stocks would trade higher.

I will have you know, “The Fly” is ever so busy, cooking his corned beefs with beer, alongside some potatoes and cabbage. I am an expert, Sir, in the field of cooking on St. Patrick’s day. Moreover, I am even better at drinking myself idiotic. For the remainder of the day, you should all assume “The Fly” is drunk and not really meaning what he says or does.

So the marker is BANG-ZOOMING and I am 250% leveraged long WNR in my personal, which by the way is at ALL-TIME HIGHS, now up around 10% for the year. As for all of my other shit, it’s mainly in WNR, MAS, VLO and cash.

The math is very simple:

Market goes up= Fly is rich.

Market goes down= Fly is rich.

Market never opens again= Fly is rich.

So, with that in mind, I don’t really give a shit about today’s tape. I am interested in drinking beer and laughing at my dinner guests. Oh, now you know why I opted for cash instead of hedges via shorting. You cannot beat a clam in his body of water. It’s best to get out of the water sometimes and piss on him.

What do you think is happening to large Japanese institutions and insurance firms? They have massive exposure to equities and will likely need to start unwinding soon. This is where the potential systemic risk lies, which is why you should be avoiding equities.

For example, Nomura Holdings owns 35% of FIG.

Why am I stubbornly long WNR, in the midst of crisis?

Two reasons:

The refiners are isolated to the U.S. market. At the same time, they profit from supply disruptions in Japan. Very soon, Japan will be importing vast quantities of refined crude. The second reason is profit margins. For the refiners, the only thing that counts is the crack spread. Right now, it is at record highs, above $23. Check crack spread prices here. It’s worth mentioning, The PPT automatically calculates the crack spread and applies said score to the refining sector.

While gold/silver might make sense now, there is a distinct possibility that this market may start to unwind, effectively fucking “large crowd” trades. In other words, your local hedge fund manager is willing to risk, oh, another 3-5% before he heads for the exits. I rather get out early than die late.

The top rated stocks, inside of The PPT, based upon technicals, are the following:

WNR, iPGP, ACI, LNG, COG, PAY, BTU, ADS and CHK

NOTE: PESI has been weak. But look what they do.

Crack spreads are up 5.5% right now. As you know, my largest position is WNR. For my personal account, it is my only position.

Today, small cap oil is up. But that is not a safe haven. I expect the price of oil to trade lower. I expect everything but refiners, treasuries and the dollar to trade down.

In summary, the safe havens are refiners,  treasuries and the dollar.

Any questions?

Good.

I don’t feel like worrying about stocks today. I will make a real effort to keep my 60% cash position intact. While the Swiss Franc makes new highs versus the dollar, you idiots look to buy dips. While nuclear power plants melt the fuck down, turning Japan into a wasteland, you buy dips.

You are the type of person that would give instructions in your will to buy dips upon your unfortunate death.

I have a great interest in napping. Rich folk need rest, for there is much work to be done later on. Plus anyway, I mustn’t go without proper sleep ahead of National Beer day (St. Patrick’s Day).

Bottom line: I am now a nuclear scientist and I am telling you that power plant at Fukushima is going to explode. It’s like a fucking terrorist dream come true. For the record, if you still like uranium stocks, you’re an idiot!

Let me be clear: I am bearish on world markets while nuclear power plants threaten to turn one of the world’s biggest and most vibrant city into a wasteland. I do not care about bounces, for I am good enough to make coin in any market.

I strongly advise all of those who value my opinion to refrain from buying dips, like idiots driving in ice cream trucks, especially while the country of Japan is vapor-lock shut down.

You thought Lehman was a big deal? You thought the “Asian Contagion” of the 90’s was hard?

You haven’t seen anything yet.

Imagine you were in a stupid room with decorative glass windows. You know, the ones  that were crowd favorites of the American Psycho crowd back in the 80’s. Now imagine yourself reading my blog, commenting on “The Fly” selling too early. Bear with me, for I am about explain what is in store for you.

You left some comments like “WTF n00b, sold early, hahahahaha,” then took a few sips from your faggotty glass of wine. Then you heard a noise, sounds of laser beams and shit. So, you put your small glass of chardonnay down to take a peak. You walked into the living quarters; but found nothing. So you head back to your desk to revile Le Fly a little bit more. You were having a grand old time on the internets.

Then, suddenly, a fucking spaceship appeared out of nowhere, outside of your bullshit decorative windows. Immediately, a fucking robot arm broke through the fancy glass and punched your face in, shattering the glass of chardonnay all over your mustache.

I WILL FUCKING KILL YOU. That’s like a direct threat to your personal safety. You might get away with talking shit on other sites. iBankcoin, specifically my blog, IS NOT OTHER SITES. I have serious testosterone issues. I am alpha to your omega.

Here, let me explain this shit to you in psychopath caps and quit fucking around.

I AM VERY MAD THAT I SOLD NEAR THE LOWS. I WANT TO PUNCH THINGS AND INFLICT BODILY HARM TO RANDOM HOMELESS PEOPLE.  I AM VERY MUCH INTERESTED IN KICKING OLD MEN IN WHEEL CHAIRS DOWN SUBWAY STAIRS.

There, I said it.

Now that I got that off my chest, understand that nothing has changed but the weather in Tokyo. I will ride to the death in WNR, now more than 25% of my holdings. PESI is a small holding, which has no bearing on my life. I kept MAS, FLWS, WFC, TEVA, ADBE, FORM and C. And, I initiated a new position in VLO. Sure, staying in cash for months on in protects you from nuclear meltdown events. However, I come to play and win everyday. I much rather swing and miss, than watch that shit pass me by and get called out.

My 60% cash position will be allocated as soon as I am comfortable.

I sold out of some pretty big positions this morning, regardless of price. When I make up my mind, I try to get the best possible price. However, it’s not a deal killer. I don’t mind slippage in exchange for control. In this case, I NEED to have total control of my assets at play here, in order to navigate this market properly. So, I took a staggering 30% loss in BORN, even though I was up on it LAST WEEK. I have the scumbags from Rodman and Renshaw and CCME and CAGC to thank for that. And, I kicked out of OPEN, even though I love the name.

Stocks like OPEN will get eaten alive should this market go down for a period more than 5 days.

With some of the proceeds, I bought nuclear clean-up spec play PESI, VLO and lots more WNR. Keep in mind, crack spreads are down 7% this morning and WNR is flat. I reckon your local asset manager is doing some rotation right now, out of oil exploration into refiners. It’s a no brainer, if you think about it with your dog brain for more than 10 seconds.

Additionally, I sold off some other ancillary positions, bringing my cash position to 60%. It doesn’t get higher than that. I still own some stocks and will buy more, if the price is right. However, I needed to stop the losses now before they became punitive. I can correct a 10% pullback in my portfolios. However, if I let 10% turn into 20% then 30%, I would have dug myself an “idiot box.”

Bottom line: I am now in control, despite my temporary set backs.

I bought VLO, WNR and PESI.

I sold out of BORN for a horrific loss and OPEN for a little itsy bitsy one.