Fly Sell: TLT

I changed my mind on holding so much [[TLT]] . I sold out of 50% of my position, a touch under $90.

Okay, now I can get back to the business of picking stocks.

It appears the OVERSOLD signal was spot on with [[CAGC]] yesterday. So you know, at the moment, it is spitting out an OVERSOLD reading in Rio Tinto plc (ADR) [[RTP]] . I don’t know why I WRITE IN CAPS. I just do.

To answer your questions: yes, I am still long [[VXX]] , despite a large percentage loss. Chalk up a win for the peanut gallery. You warned me to avoid [[VXX]] , and here I am getting my face buzz sawed by some lunatic ETF. The way I look at it, being long volatility is a good way to sound smart, but be dumb (that was brilliant. props please). I mean, I can mosey on down to any cocktail party, anyone at all, and profess the endless splendour [sic] of being “long of volatility.” I would speak of my position, with a pipe clenched in my teeth, and people would take a step back, out of deference, to listen to my many strategies and heed warning to my dire predictions.

I’d say “yes, (puff, puff, puff) I am long of volatility, good sir (puff, puff, puff). And that’s it. I’d quickly make way to the nearest serving station and order a martini to my liking, both shaken and stirred.

Seriously, it was/is a bonehead play. My holding period is narrowing by the minute.

To make up for my egregious efforts in volatility, I’ve been buying Johnson Controls, Inc. [[JCI]] and will start buying Fuel Systems Solutions, Inc. [[FSYS]] in earnest. As of now, my FSYS position is very minor; but that will change soon enough. In short, I like the auto parts plays. Look at Cummins Inc. [[CMI]] and see that fucker run, same with Titan International, Inc. [[TWI]] . With GM slated to come public this summer and Toyota recalling cars like they were fucking landmines on wheels, auto parts is the place to be.

Ever wonder what the fuck sort of chemicals are in a K-cup? Over the past 6 months, I probably consumed a million K-cup servings of coffee, without even thinking “hey is this shit safe?” Well, I am sure it is, just like eating microwaved teevee dinners every night. My paranoia is endless. It really is, mainly because people and things are, generally, out to get me. Case in point: Flotek Industries, Inc. [[FTK]] .

If Flotek Industries, Inc. [[FTK]] was a real person, I would have punched it in his face by now, with brass knuckles, for putting me through the ringer. However, as sure as I am sitting here, that fucker will print $3. Write that shit down, DEVILDOG style.

Back to K-cups. Green Mountain Coffee Roasters Inc. [[GMCR]] is a sell here, based upon my paranoia. And, let’s take it a step further. As you know, “The Fly” is an avid shopper at Whole Foods Market, Inc. [[WFMI]] . Mrs. Fly drags me into that place at least once per week, to “stock up on organic fruits and vegetables.” YUMMY! However, after further investigation, I’ve concluded: WFMI is an ass. Most of their private label shit is made in China. Let me ask you a very sincere question: if the FDA or USDA does not regulate foreign food imports (generally, they are contracted out to private companies), do you trust anything from China, with respect to its “organic credentials?”

Separately, my [[MWW]] is charging higher this morning, on the backs of an analyst upgrade. It is my belief, based upon historical reference, every 1% reduction in the unemployment rate equals another $10 in [[MWW]] . My favorite stocks, at the moment, are Fuel Systems Solutions, Inc. [[FSYS]] , Johnson Controls, Inc. [[JCI]], TriQuint Semiconductor [[TQNT]] and Flotek Industries, Inc. [[FTK]] .

And, as you know, I still like [[TLT]] . Doing “The Hugh Hendry” is a tough job; but somebody has to do it.

China has opened down another 1%, following yesterday’s 5%. This is worth noting.

Chinese leadership stocks, like Ctrip.com International, Ltd. (ADR) [[CTRP]] , PetroChina Company Limited (ADR) [[PTR]] and Baidu.com, Inc. (ADR) [[BIDU]] will continue to come under pressure, as long as the the homeland A shares continue to get beaten. I am convinced, through years of experience trading these markets and watching patterns, that the U.S. markets are the most manipulated in all of the world, with Thailand a close second. China was first to bounce off the bottom and they shall be the first to top out.

Needless to say, I expect all of you to stay up through the night, monitoring these events closely for me, while I sit down and sip on a nicely fresh brewed cup of Earl Gray tea.

NOTE: [[FXP]] might be worth a whirl down here.

NOTE II: Be sure to subscribe to iBankCoin’s youtube channel. I will be uploading new cartoons weekly there first.

Who gives a fuck anymore? You’re better off flying to Iceland and parachuting yourself into one of those volcanoes, than fucking around trying to short this market.

I blew out of my [[SRS]] position based solely upon an explicit OVERBOUGHT reading, kindly provided the The PPT aka my brain. On a similar note, I am tempted to go long some Chinese Burritos here, as many of them are being tagged with OVERSOLD readings, namely [[CAGC]] . Essentially, it’s stupid to bet against robots, yet here I am not throwing my money into the inferno. It’s not that I am getting hit in the market, as evidenced by my accounts being at all-time highs. I am simply missing out on gains that are rightfully mine.

Truth be told, a slew of metal stocks are still down, ahead of STLD’s numbers. In my opinion, as long as “Chinese plays,” like steel and industrials, stay down–this is a DO NOT BUY market. However, with that being said, I am pretty much done letting my 30% cash marinate in a dead money market account. So, if we get some follow through tomorrow, accompanied by green in the burritos space, I intend to reallocate my cash into a variety of names.

The market is never predictable.

I sold out of [[SRS]] @ $29.50.

It is now registering an OVERBOUGHT reading. While I believe the range could stretch further to the upside, I bought it based upon an OVERSOLD reading. Therefore, by the laws of reason, within The PPT, I am obligated to sell it at an OVERBOUGHT reading, as is the case now.

This sell off is much deeper than the 2 red points that the Dow is suggesting. Stocks across the board, particularly risky names, are being taken down pretty hard here. Even with my limited long portfolio, I have three names down 3%+.

While it’s true, this sell off could be a buying opportunity. I suggest missing out on the exact bottom and wait for the market to prove it will not nosedive further. Everyone is expecting the market to swan dive, thanks to the Goldman lawsuit. The way I see it, the market was due to correct anyway.

Unless you are shorting stocks or long volatility, there aren’t many places to hide. Very simply, you should have a decent cash reserve built up by now, in order to take advantage of a weak market. If you were not selling, as the market climaxed, you deserve heavy losses, AND MORE.

Into weakness, I like TriQuint Semiconductor [[TQNT]] , Johnson Controls, Inc. [[JCI]] and Fuel Systems Solutions, Inc. [[FSYS]]

I hope to receive numerous Oscar nominations for this short film. While watching, be sure to pretend you are French, via wearing silly hats and drinking copious amounts of Bordeaux with cheese niblets.

Bravo!

As you know, the market has blasted through our overbought readings, in recent weeks. Lending credence to the old saying “nothing is full proof.”  Being that we just registered another 3.00+ score on Wednesday, my question to you is: are you feeling lucky, punk?

NOTE: Remember to tune in tomorrow, at 8:00pm, for a new Fly episode, titled:  Brimstone, Young Man, Brimstone!

I just got done reading the SEC document, pertaining to its lawsuit versus Goldman Sachs, and I’ve been laughing– rather hysterically–ever since. I’m not going to name names, because that’s not what I do. But, some of you finance bloggers out there just don’t get it.

Yeah, “Fabulous” Fabrice Tourre is a scumbag of monumental proportions; but that’s the business. Eighty five percent (give or take) of all the brokers, investment bankers and big deal makers out there are embedded in deeply rooted, flawed, scum bag personality traits, that can only be corrected via death. Look, I don’t see what the big deal is about John Paulson helping to creating the product, just because he intended to buy insurance against it. Who the fuck was he, prior to 2008? Sure, he was successful, just like a multitude of other hedge fund managers. But, it’s not like the guy was fucking Merlin, or some sort of space alien magician with crystal balls coming out of his ass. If the game was prolonged a little longer, Paulson would have looked like a fucking first rate jackass, getting poleaxed on a bunch of CDO’s. It just so happened that he was right, with the idea and timing. Do you know how many hedge fund managers get wiped out, betting one way, because their timing was off by a few months?

And, it’s not like Goldman or ACA was marketing the fucking products to 85 year grandmothers. They were selling these products to sophisticated investors, who know how to read a fucking balance sheet. It should not matter, not one fucking bit, that Paulson was intending to take a short position. Who gives a fuck?

When I go out and buy Fuel Systems Solutions, Inc. [[FSYS]] , I do so knowing that there are 1,000 guys out there, just like Paulson, that are betting against me. That’s Wall Street, gentlemen. That’s risk.

As far as I am concerned, the SEC should sanction the Fabulous guy, ding Goldman a few mill for not properly supervising him, and the rest of the ordeal should be hashed out between the banks. Let ACA and the other institutions file lawsuits against Goldman. Doorknobs to donuts, any judge in his right mind would say “you are a sophisticated investor and are supposed to understand the inherent risks associated with the products you buy on behalf of your shareholders/customers” aka fuck off.