Oil is the New Cancer

While looking at the absolute tragic events transpiring in the share prices of oil/gas stocks, a few things come to mind.

1. Some commodity focused hedge funds are being liquidated, amidst mammoth losses, causing share prices to exaggerate to the downside.

2. The share prices of oil/gas plays are telling us the economy sucks dick.

3. Oil is the new cancer.

Let’s not sugar coat this shit, shall we. I’ve been “de-cocked” in just about every single oil/gas stock this year, stemming from FTK to SD to GMXR and now ATPG. I am telling you now, I will not touch another single oil and gas stock for the rest of my life. That’s it. I am fucking done.

I’d rather play games with metal stocks, than fuck around with this shit. The industry is hated so much, you’d think the devil himself was running these companies. I am sure there is going to be terrific buying opportunities soon. After all, how low can WFT, BP, CAM, HAL, ATPG and RIG go?

ANSWER: All the way to fucking ZERO, I suppose.

With my money, I will be glad to recoup some of my HORRENDOUS losses from the stocks that I already own, sell them, then move on.

As an aside, the market is up, yet so is my FAZtard and VXX.

What does that tell you, fuckface?

NOTE: CDS spreads have been widening the fuck out on a multitude of financials, MET being one of them. Hence I am short the name.

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I sold short 5,000 MET @ $40.45 and nibbled some more on VXX, under $29.

Disclaimer: If you do the stuff I just did above, your only son will grow up to wear bow ties and walk around town in fancy hats. And, you may lose money.

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In an amazing twist of events, the markets have reversed from early losses and headed higher, despite the wall of worry. I suppose our markets are unique in that respect. You know, always bucking the trend, throwing out false signals and effectively RAPING all participants. Even still, I remain steadfast in my 50%+ cash position, 15% VXX position and floating fucktarded FAZmobile participation.

To couch my FAZ, so you know, my largest long position is GS. For some reason (maybe it’s the fucking valuation, duh), GS is behaving rather nicely. With 10,000 shares long and a cost basis in the low $151’s, I stand to make a good deal of money, once they settle with the Government vultures.

It’s amazing to me to bear witness to the sheer carnage taking place in BP and RIG. Even more, shares of ATPG are tanking so hard, one would think they were the masterminds behind the fucking leak. Perhaps I just don’t get it and will fall victim to an egregious oil slap to the face. But the numbers don’t add up, dropping ATPG to these levels. Then again, Obama might ban oil and shit, effectively putting us back on the horse and wagon standard.

Shares of AAPL are really leading the charge here and the bears are definitely in a state of shock right now. We were supposed to drop 2% today. Instead, we are melting higher, like a buttery cheese sandwich on a slab of hot tar.

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I don’t give a shit if the market jerks off all the way to Dow 30,000, amidst an inflation nirvana. That shit is fucking nonsensical bullshit. Stocks don’t go up due to hyper inflation, especially when dealing with DEFLATION on a biblical scale.

You’re  fucking retarded and a wholesale idiot. The world is falling apart and Turkey is gonna drop a nuke on Israel, right after Israel blows up their entire airforce.

Just sell and eat a sandwich.

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[youtube:http://www.youtube.com/watch?v=8A3bfmhivTI 616 500]

He puts the bear in shitter.

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Where is the market going? Does anyone know? One thing is for sure: volatility is back .

How lucky are you, exactly?

With Monday off, but everyone else trading, U.S. markets will “enjoy” double upside or downside on Tuesday. It’s like the market will be converted into an ULTRA-MARKET, if only for one day. So, if Europe gets raped on Monday, prepare for a 3%+ down day on Tuesday.

As far as I am concerned, there is little reason to play casino, ahead of a long weekend, after making a “fuck load” of money in my positions. So, as you know, I sold out of many positions, threw on a few hedges, and will relax like a heroin addled pelican over the weekend, while chomping on BBQ chicken, ribs and steak.

In short, I am not sure, so I have put myself in a position to do no harm.

Have a great weekend and prepare for Mr. Devil Dog’s presentation (Fly cartoon) to iBC, sometime Sunday night, ahead of Asian trading.

[youtube:http://www.youtube.com/watch?v=tKTRJZkNoSo 616 500] [youtube:http://www.youtube.com/watch?v=5vqR_fO7GEs 616 500] [youtube:http://www.youtube.com/watch?v=YNam0mzfR3g 616 500]

^^^ROFL

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With Fitch screwing Spain, I shifted my position.

I bought 50,000 FAZ, south of $14.85 and 50,000 VXX, under 29

UPDATE: Fitch must have seen The PPT score of 3.17 (I kid).

Anyway, all of the things that scared me out of the market last time are creeping back. Credit agencies acting all gay and shit. TLT going up, as people do the “Hugh Hendry” with great ferocity. FXY is going up, as the carry trade unravels. And, the FXE is tanking, due to its failure. So, without hesitation, I went to 50% cash, more than doubling my cash position from yesterday. I sold out of some ATPG, at an egregious loss. However, I still hold some. I sold out of my largest position, EMN. And, I sold out of RAX, MTW and  FLS. Basically, I sold out of all of the shit that I bought earlier this week.

To a stranger looking in, “The Fly” must look like an indecisive psychopath. However, that’s exactly what I am, AND MORE.

I change my mind all the time, which for some odd reason, has gifted me with a lifestyle that you middle class assclowns could only dream about. At any rate, that’s my new position.

I will be adding to my VXX position until it is 15-20% of assets.

NOTE: For PPT subs, June’s Seasonality Report is ready.

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It’s not wise to stand in my way, especially when the stock market is open for business. Many of you think this is a game. Well, I am here to remind you: it’s not a game anymore.

For years, I’ve been slapping people in the faces with hot slices of pizza, then tossing them into idle tar pits. The stock market is in my blood, just like stupid is in yours. Let it be known: I am here to claim my prize, AND MORE.

The market is taking a breather, after yesterday’s ferocious melt up. As you know, my brain translated into software, better known to you common folks as The PPT, warned you of an OVERBOUGHT condition yesterday. Nonetheless, I do not believe the market is done going higher. The problem here is the long weekend, coupled with the fact that people are superstitious about being “caught long” over the weekend. Which, as you know, makes no sense, especially since the market tends to trade up on Mondays.

Regarding the fucktarded issue of ATPG: It has successfully mugged me of coin. With Obama intent on shutting down GOM wells, ATPG is having a difficult time, due to its GOM exposure. However, the stock has already been cut in half and is the worst performer, over the past month. I will hold onto it for a little while longer. But, just know, I am not married to it and will not allow a minor loss turn into another SD.

I will not be “TIVO’D” on ATPG.

In closing, I am keeping it light today and will likely sell a few things, before I buy.

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Indeud.

UPDATE: Go download the new iBC iPhone App.

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Lots of cross-currents, especially in the currencies. This is a real hard market to gauge, which is why you should keep it light. If you have some sweet gains, off of the lows, take some off the table and chill out for awhile. Although I am adding to some positions today, I still have a decent amount of cash on the books. Plus anyway, I’m fucking nuts, with a 30% YTD gain, while you are just some guy reading my blog, poor and destitute.

At any rate, I have several pressing matters to attend to today. So, unfortunately, this will be my final post of the day. I am looking for the market to keep its gains, mainly because of the euro/yen situation.
However, I’ve been tricked before by this cocksucker of a market. The bottom line is this: trust nothing but the gains in your portfolio. You need to book them constantly. Hit and move, young boy, hit and move.

UPDATE: I sold out [[TYH]], in order to “respect the hybrid.”

[youtube:http://www.youtube.com/watch?v=9HCGwTXNOLs 616 500]

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