Life is a Cartoon

Two weeks ago we were famished; today we are dipping expensive bread into large vats of decadent olive oil.

The stock market is the embodiment of human behavior, in all of its “grotesqueries.” For example: as this market melts up, all of the clam-fuckers who were screaming “sell” last week will be covering their shorts and going long, amidst a buying panic. However, the appropriate course of action is to take profits here or add to underwater shorts. The best trade is always the hardest.

I’m not particularly sure when the market will reverse lower. According the The PPT, we are not officially OVERBOUGHT until the score hits 3.10+. I suspect that score will be breached today. So, to be clear, I shall take some of my wins and walk away from the table today. As you know, I went “all in” long last week, so it’s only prudent to raise some cash here in order to “manage risk.”

Remember that guy in the comments section who laughed at me for only having a 10% cash position, saying “way to manage risk Fly, ROFLMAOPSDGDHDFG?” Yeah, neither do I.

NOTE: Credit spreads are tightening, as expected, in a number of insurers this morning, notably HIG, MET and XL.

“The Fly”, 2010, inside of The PPT

Thanks to the recent market turmoil, iBC has been blessed with a sharp spike in traffic. For you newbies here, let me explain a few things.

1. I don’t give a shit about traffic or readers. Never assume that I am here for you.

2. I do not tolerate bullshit in the comments section. I run a very, very tight ship and will ban you without thinking. To date, I am proud to say that we have banned over 250 “readers.”

3. I am only interested in making money. I don’t care about anything else. That includes everything.

4. “The Fly” is smarter than you, with a certified IQ of 155. Don’t try to outfox the fox who is hiding in the tree with a sniper rifle.

5. iBankCoin reigns supreme over all other financial websites. All other blogs, naturally, are considered “3rd tier.”

I need to get the fuck out of here. It’s a slow Friday and I have money to spend, things to do tonight. So, do me a favor and make sure this market stays within this tight range, so I can fuck with it on Monday morning.

Most of you ham and eggers panicked the fuck out of the market, aka “the kitchen”, when the heat was turned up a notch this morning. You had visions of dramatic, opera-esque, reversals, under a shit heap of sell order. Lo and behold, after “rookie time” (9:30-10) ended, we are now melting higher again.

Some are built for this shit. I acknowledge the supreme trading abilities of many in my inner circle, including the gentlemen inside of The PPT aka “my work bench.” However, most of you should play your position, which is the bench—sadly enough. Hire a financial advisor or throw some money in a hedge fund, for you are simply spinning your wheels. Life is too fucking short to waste time on stuff that you can’t do.

For example: “The Fly” doesn’t fuck with sheet rock or paint ceilings. That shit is tedious and requires some skill, if done right. I hire “illegal Mexicans” to do that shit for me.

Do yourself a favor and hire an “illegal Mexican” to trade your accounts. He can probably do a better job than your jaded ass.

Back to the markets:

The “buy the dip” mentality has permeated investor psyche again. Fuck the retail sales numbers. All I care about is price action. Do you hear me, you dumb motherfucker?

In short, until further notice, X, FLS, SHLD and MWW are going higher—and are my top picks.

A picture is worth a zillion words, AND MORE.

UPDATE: Here is a longer term view of all PPT scores, sans the recent reading.

The PPT wins again.

The Brazilian exchange is up 1,200 points today. Asia was strong, as well as Europe. In my estimation, at the risk of a self inflicted castration, there is no fucking way we reverse lower, like we did yesterday. I see GS diving lower. I know, being long 10,000 shares. I see they knocked down SHLD and are trying to knock down X. I know what’s going on.

See, the bears need today. They are trying their best to suck the life out of this rally, to make it vulnerable to a late day reversal, which would definitely destroy any semblance of moral left in this tape. Should the market reverse today, we’re going to tank in fairly short order. Because of this wild eyed theory of mine, I do not think the market will reverse, not after yesterday’s debacle.

The overall breadth of the market is still incredibly strong. I believe in this move so much, I have reduced my cash position to 10%. This is as far as I will go.

In other words: I am “all in.”

Watch FXY. It led to the “calamitous reversal” we experienced yesterday. Early on, the Yen was lower, allowing the “risk trade” to thrive. However, it appears the Yen is rallying again, which in turn is giving people a reason to sell.

I’m not saying this is a fucking rolling disaster heading straight for your home. But, with GS getting nailed too, it’s definitely worth monitoring.

Some richer than others, of course. The government hordes will not allow the markets to slip down the slippery slope of slop. Just 1 month ago, we were all in agreement that the markets were stupendously and arrogantly manipulated. Why the change of tune? You’re not gonna let a little Euro crisis, coupled with an oil apocalypse, get in the way of you making money, are you?

As a tax paying American, albeit I do enjoy a good amount of write-offs, it’s my right to make coin in the stock market. I do not profess to know how long this melt up will last. But, I do know, we’re going higher. All of my reservations about “how gay everything is” needs to be put aside, not so much different than eating that chocolate pudding, despite being a lard-ass loser.

I digress.

While you dorkizoids hem and haw with your pointless 5 figure Zeeco accounts, “The Fly” is looking at a 3%+ up day in his portfolios.

I warned you yesterday, just prior to that calamitous drop and reversal: THE STOCK MARKET RALLY HAS ONLY YET TO BEGIN.

NOTE: I know, GS is stupid.

I bought 3,000 PCP @ $106.50.

Disclaimer: Indeud.

Classic head fake was conducted yesterday, effectively sucking shorts into the vortex of tits and placed gently onto a table with a giant fucking vice on it.

Today you will not escape, for you will be squeezed of all of your coin.

A Spanish bond auction was successful, leading to a rally in euro bank shares. At this stage, our markets are 3% cheap, compared to the indices located in fag land.

In short, today is rally or die day. “The Fly” is magnanimously positioned to profit from the pending ” tits ripping rally.”

Are you?

Top picks: x, fls and shld