SHUT THE FUCK UP

I just wanted to post that headline, in order to infuriate my ad vendor. He gets very upset when the site is littered with “foul language.” The good folks over at Coca Cola do not like to see “SHUT THE FUCK UP” on sites they advertise their “death beverage” on.

Having said that, I want to echo some of the things I penned in PPT today. Although I added to my FTK/WFR positions, I am very tentative about allocating my cash here. The way I see it, I’ve been blessed here, with recent gains that have wiped out losses from my worst trade in years (VXX). Now, if I was half way retarded, I’d take that for granted and press my luck with idiot Chinese stocks. But, I am smart enough to know when to fold my hand. At the present, the only lotto tickets on the books are BORN and CGA.

I will keep a very tight leash on my STI short, especially since financials looks strong today. Should it break $26, I am out.

Essentially, I am making truckloads of coin here, solely based on FTK. The position is a little overweight here, but I am comfortable with it.

Have you ever known something would happen, not based on inside info, but intuitively, and acted upon those instincts? Well, I do that all the time and I am good at it. FTK wants to trade above $3.03 for 20 days, in order to allow the company to force conversion on millions of warrants @ $1.21. When this happens, the company will receive millions of dollars, buttressing the balance sheet. Ultimately, this is a foregone conclusion. It doesn’t have to happen right away; but it will happen. Mark my words.

NOTE: Munis, especially Cali, are getting killed today. See PCK, MLN for details.

FTK bumping up on $3, bitches.

In this video, “The Fly” lights on competition on fire.

I added to my SCO position now.

As you were, small dick-burglars.

UPDATE: Based upon the laws of reverse gravity, I added to my WFR/FTK positions.

Fuck the leprechauns. No one gives a shit about the drunken degenerates from Ireland. I feel it is my right and duty, as a half Irish American, to tell it like it is. They got drunk on their own stupidity, borrowing money like Americans and spending it like Brits.

It looks like the market is due to bounce here; but the market has changed. There is a more serious tone to this tape. The market has “an adult feeling” to it, whereby shit-faced chicom plays are decidedly out of favor. I sold the majority of my Chinese Lotto names on Friday. There is a lot of bullshit being flung around, regarding Chinese accounting fuckery, in a number of names. I much prefer to buy names that do not have that stigma, if you know what I mean.

Having said that, I like WFR, FTK, GMXR with a short oil via SCO here.

If you’ve been reading this blog for the past week, you know I was on top of the muni collapse in California. As a matter of fact, similar pinless hand grenade action can be found in NY, Maryland, Illinois etc. Of course this is all following the lead of U.S. Treasuries, best represented by the share price of TLT.

However, let’s call a spade a spade here: rates were artificially low to begin with. What if the rising yields are simply a reaction to an improving economy? I mean, it’s fucking possible, right? Or are we stuck in some sort of endless murderhole, where the economy gets pillaged over and over again, until we all die. WTF.

Granted, rapidly rising rates at a time when the Fed is actively pursuing an artificial environment to reduce yields is counter-intuitive.  But then again, market forces are supposed to trump all of this government bullshit anyway, right? Is it possible that the Fed is spinning their wheels with QE2 and Wall Street is simply forecasting a better than expected economy 6 months out, via rising yields? As a consequence , commodity prices have been crashing too; but they had a terrific run.

After thinking about this situation all weekend, I just wanted to throw a few ideas out there, especially since every motherfucker with a keyboard seems to be hellbent on declaring the end of the world is near, yet again.

If recent history has taught us anything it is to watch out for the other hand, for the one in front of you is merely a diversion.

Going into tomorrow’s tape, I am 5% short, 50% cash and 45% long.

Let’s see if you idiots can handle it.

UPDATED: This is a current chart.

That was The PPT range chart, prior to today’s bloodbath. As you can see, from the very extreme levels of 3.32, the market has been trading down. Typically, in past OVERBOUGHT cycles, we’d position inside of VXXcycles and FAZmobiles, while laughing it up, choking on pork chops along the way. However, since my recent decapitation in VXX, I am somewhat, shall we say, “apprehensive” about buying into such lemons. The easier, more reliable bet, in my estimation, is via crude.

Across the board, commodities are being flogged today. If this market is due to correct, 3-5% from here, oil will trade under $80. That’s why I am buying SCO.

In addition to that, I am shorting STI, based around the idea that banks may get the stuffing kicked out of them, sometime soon. Don’t forget who warned you about California munis first. Take a look at PCK. Thus far, it is down 10% for the month, worst since the 35% one month decline in 2008, when the fucking world was ending.

What does it all mean?

Well, a thinking man would surmise that Wall Street is telling THE BEARDED CLAM to go fuck an exhaust pipe. Yields are rising, dramatically, as QE2 commences. Also, Ireland will need a bailout soon, else their drunk asses are going out.

On the other hand, POMO, QE2, TURKEY, CHINA, INDIA, NO INFLATION etc may save us all from damnation, which is why I am going very easy on the shorts and still hold a good amount of longs. Let me just say this: I have never been as bullish as I am right now, regarding the prospects of FTK. I may need to hold it for another 3-6 months, in order to see my $3+ price target. Or, I maybe the waiting period might just be a few weeks. Either way, the underlying fundamentals are smoking hot now. Those are the type of names that you want to buy on dips. I’m not saying FTK is for you. However, I am saying, keep a nice list of stocks that you want to buy on dips and wait for the opportunity to buy them. If we are lucky, we get a small dip from here to Turkey day, then springboard into X-mas.

NOTE: The PPT‘s new Raw Commodity Index is down 4.6% today. Hello Ben, we need more inflation!

UPDATE: I bought 10,000 FTK @ $2.60 and 50,000 WFR @ $13.00.

UPDATE: I bought another 10,000 SCO and sold half of my BORN position.

IMPORTANT QUESTION: Why does Yahoo give heavily coveted news credentials to SeekingAlpha, in their finance section? Those stupid bastards from SA are publishing one short story tale after another, by short sellers, targeting thinly traded stocks, for personal profit. I call bullshit on them and Yahoo.

I sold short 10,000 STI @ $25.09.

Fuck this fiesta, I am heading for a siesta. I am booking profits, losses and everything else in between.

I sold out of EJ, FORM, CAAS, HEAT, CFSG, SNIC and CRK.

It’s real fun being long those names during cocaine induced rallies. I imagine they would not be so cool should reality begin to sink in.

I am still holding the entirety of my FTK, CGA, GMXR, C, TEVA, WNR and WFR positions. My cash position is now 55%.

UPDATE: I bought 10,000 SCO

As The PPT and newly furnished 12631 deal with debilitating server issues, “The Fly” is eating foods fit for a fat King. Just so you know, “The Fly” is not fat and holds a good amount of contempt for those of you who are a bit portly. It’s not the fact that fat people are inherently lazy, but selfish. They want all the food to themselves and their gluttonous ways causes them to murder themselves vis a vis clogged arteries. How selfish of them!

With regards to this market: I am a bit distracted right now, due to the overwhelming response to 12631. It has effectively crippled a few servers and is now threatening the very life of our server guy, “Vincenzo.” You see, prior to launch, Vincenzo had placed his oversized barrels of extra virgin olive oil on top of “the iBC server farm,” inside the cold room. Once 12631 launched, the servers got so busy, so fast, that they began to shake, almost as if an earthquake was tossed down from the heavens into Vincenzo’s office. Because of all of the rattling, the olive oil fell to the ground, effectively drenching all of the iBC servers and ruining Vincenzo’s custom made sweater from Milan. As we speak, he is cleaning up the mess and will be working all weekend to make sure things are up to speed on Monday.

This market looks plain old bad. It has all of the hallmarks of the beginning of a down turn. The only thing that keeps me from selling everything and going to cash is recent history. Each minor blip has been met with pornographic buying sprees, by Wall Street’s degenerate money managers. Let’s give those fucking perverts some more time to get their cocks in order.