Oddball Trading

Well I am back from my afternoon rendezvous at Whole Foods Market, Inc. [[WFMI]] . I spent nearly $500 on just over 4 paper bags filled with “delightful delectables.”  Since I’ve been away, the market has gone down, then up, only to go back down again aka “the circle jerk.” Despite my favor, POSCO (ADR) [[PKX]] is being poleaxed. The sheer destruction in the metals is like watching two drunk drivers crash into each other, with boxes of dynamite in their respective trunks. Nevertheless, I remain steadfast in my “longship.”

There is an absurd amount of snow on the ground vis a vie GLOBAL WARMING, a problem that will only get worse. On this news, I like rock salt maker Compass Minerals International, Inc. [[CMP]] . If it was up to me, I’d drop large quantities of rock salt on the polar ice caps, in order to melt those (mother)fuckers down, just because it’s cool (pun intended).

Expect morons to control the tape into the bell. Today “should” have been a big up day. However, for some reason, the robots at Goldman Sachs are angry and refuse to jack the markets higher. So, for now, we’re stuck with a retail dominated tape.

NONETHELESS, I still like SandRidge Energy Inc. [[SD]] , Flotek Industries, Inc. [[FTK]] , POSCO (ADR) [[PKX]] , Ctrip.com International, Ltd. (ADR) [[CTRP]] , United States Steel Corporation [[X]] and Nucor Corporation [[NUE]] .

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Here we go again. Fucking Titanic trading here on Wall Street, as HUGE worries over sovereign debt permeate the small brains of big money managers. Portugal and Greece can suck my cock. I could care less about their plights and how fucked they may or may not be. I say ” feed them to the sea lions”; and let the rest of us go about our business. With this early sell off taking hold, it appears the bulls are in for a BURLAP SURPRISE (no idea what the means, nor do I care).

Aside from eating excessive amounts of oatmeal (lightly sweetened, heavily milked), “The Fly” is preparing to leave the office and go shopping. I will partake in odd Monday mornings events at Whole Foods Market, Inc. [[WFMI]] . Instead of being be at the office talking to idiots, I will be browsing over produce section at “The Whole”, pondering “melon versus grapes.” Then, I will mosey on down to my local chinese grocery store, where I will purchase chinese style bowls and fucking chopsticks. The truth of the matter is, I’ve given up coffee for an undetermined and undisclosed amount of time. Perhaps I have a very mild case of dystonia, whereby consumption of large quantities of coffee exasperate underlying conditions. Or, maybe I just don’t feel like being a fucking slave to my Keurig. Either way, “The Fly” is off the caffeine dragon.

As an aside, Citi initiated POSCO (ADR) [[PKX]] today with a $152 price target. You got to love Korean steel, down at these levels.

Bottom line: the market is always stupid, retarded and wrong. Stay on your fucking game plan and watch out for caffeine overdoses; it’s a killer.

P.S.- Don’t touch the watch.

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Multiple members of The PPT nailed Friday’s reversal, with urbane nobility, if i might say so myself. I spend more than enough time discussing my colossal IQ and how it allows me to bank coin, as if I was mugging a disabled market with howitzers WITH IMPUNITY. Truth be told, there are some pretty sophisticated traders/investors in The PPT. It’s obvious they gravitate towards greatness,  like magnets to metal.

The following is a series of screen shots taken of the “user notes” section, as the market reversed and crucified men clad in burlap tuxedos (they were dressed all fancy and shit on Friday, due to dire market conditions). Enjoy the sneak peek into a world you are not accustomed to, especially your type—if you know what I mean.

You don’t find this type of winship anywhere, particularly on the web of idiots. Trust me.

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Fucking classic panic action reversal. I was two seconds from tossing myself out of a cylinder shaped window, onto oncoming traffic, when the market gave me a reprieve. We reversed with great vigor, partly thanks to robots gone wild, partly thanks to short sellers booking gains.

Either way, we were oversold and due for a sustained rally up.

After today’s emotional roller coaster (oh, the drama, it’s too much), I don’t feel like talking to you fucking idiots.

Enjoy the music and the eloquent video.

[youtube:http://www.youtube.com/watch?v=W1jwKxN5lgY 616 500]

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[youtube:http://www.youtube.com/watch?v=ytc0U2WAz4s 616 500]

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Oil is down 3 bucks and the Dow is getting steam rolled to the tune of 100+ points. Some people think this is all dollar related. However, I happen to think it is panic related. The market is taking the path of least resistance and I am simply watching my gains wilt away into losses, almost in a catatonic “deer in headlights” demeanor. Naturally, the correct trade was to jump into the FAZmobile or get short. Oh, but that shit was not for me and I’ll tell you why.

I’ve been infected with a disease called “bullshititis.” That’s right, I am a fucking raving lunatic/moron for watching this wreckage, without jumping on the bandwagon. Look, I have numerous excuses for my actions and I might end up being right. However, watching 20-30% declines in certain names is 100% unacceptable.

Since it’s a Friday and the market is giving me the business, I will not make any drastic adjustments to my portfolios. But, come Monday, barring a miraculous rally, I will be forced to make sweeping/wholesale changes to them.

It’s one thing to have confidence in a thesis and buy into it on the way down. It’s an entirely different thing to watch your house burn down and not throw water on it. I’m over here roasting marshmallows and shit, while  an inferno rips through my living room. Fucking moron.

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Although I expect to see a bounce today, I wouldn’t bet my balls on it. Pardon the vulgarity; but I’ve been hanging out with a lot of bears recently. Typically we just hang out near schools or places of worship, throwing marbles on the floor–laughing at people breaking their necks.

All jokes aside, natty looks pretty good here. Providing we get a bounce, stocks like GMX Resources Inc. [[GMXR]] , Arena Resources, Inc. [[ARD]] and even my little Flotek Industries, Inc. [[FTK]] will sprint, mind you, much higher.

Into today’s inevitable bounce, I like Ctrip.com International, Ltd. (ADR) [[CTRP]] , Nucor Corporation [[NUE]] and Spain, via [[EWP]] .

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Capital losses aside, I am having a “field day” with this market sell off. It’s one thing for the bears to get all riled up when the market is lifting off. It’s an entirely different animal when this fucker is tanking, 1929 style. I must admit, I lost millions today, yet I was smiling the whole day. Perhaps I have crossed over the “rubicon line of sanity” and have become a full fledged psychopath. Or, I really love me some Karl Denninger, doom and gloom, jargon.

Tonight has the feel of an election night or a war. I can feel the anticipation in the air, as it crushes those with “low-bar” breaking points. I look forward to viewing all of the very best and bearish youtube  commentary tonight, while feasting on a 5 star home cooked meal, courtesy of the venerable Mrs. Fly.

In celebration of the great return of the most horrific bear market since the ancient days of Rome, “The Fly” will keep this thread updated, throughout the night, with all of the very finest, negative commentary available on the web.

Keep the bearshit coming. What we “honest types” need is a little truth and freedom, up in this bitch, not higher stock prices. LOL!! I cannot get enough of it. I fucking love it.

UPDATE: Oh shit I have clients in Harrisburg! And, courtesy of ZH, US CDS panic mode, yet again.

UPDATE II: Aww shit. “We’re screwed- they’re screwed worse” Does it really matter anymore? Let’s have a burlap party, ya’ll.

UPDATE III: Gold is for asshats only.

UPDATE IV: “Do you remember those party hats?”

[youtube:http://www.youtube.com/watch?v=Cbf-HvjUvMU&feature=sub 616 500]

UPDATE V: Fear of “Lehman Style Tsunami.”

UPDATE VI: Minnesota housing fraud EXPOSED. LOL.

[youtube:http://www.youtube.com/watch?v=01sddqnMMjw&feature=sub 616 500]

UPDATE VII: Tim-dog aka “The Pit of the internet” says “It is my contention that the reality has changed”

UPDATE VIII: I meekly interrupt this bear shindig for a little bull intervention, ever so humbly of course. 10,000 apologies.

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Why do you care if I lose oodles of money? I’ve been doing this shit for over a decade and have survived and thrived in all sorts of fucked up markets. This one is no different.

So, I am making a call. I choose, fully aware of the homos in Greece, to be long, despite the wall of worry. Leave it up to people like Dylan Ratigan and Rick Santelli and this market will be trading just north of 30. It is my belief, and always has been, they are both misfits, totally unable to discern a rabbits ass from a donkeys. See folks, some people are meant to fuck goats in Romania, others ride horses and raze villages for sport.

How much lower will the market go?

Geez, you fucking assholes make me sick, talking so much, so fast, about “sovereign debt” and the “grave ramifications” of said debt. Did you even hear what Cisco Systems, Inc. [[CSCO]] said? Are you aware that end user demand, ranging from commodities to denim at Guess?, Inc. [[GES]] is thriving again? You’re mixing up the honey with the urine, jackass. Huge declines hurt and in hindsight I should have sold more, just to be safe. However, here we are with a decision to make.

Is this sell off the 2008 variety, with all of its cancerous trimmings? Or, is this your standard, run of the mill, 10% market correction, that will soon be nothing more than a bad memory?

I can’t answer that question for you just yet. However, I will tell you, based upon the laws of The PPT algorithms, we are indeud OVERSOLD. Every single time The PPT dipped below 2.30, the market, almost to the day, surged higher, immediately thereafter. Well of course I know trends are made to be broken. I can hear what you are thinking and right now you are doubting Le market hand de Le Fly. Nevertheless, like George W. Bush, “I’m going it alone” and will “nu-ku-lar” your fucking faces, once this “mission” of mine is indeud “accomplished.”

[youtube:http://www.youtube.com/watch?v=mzxoLZXF9SI 616 500]

UPDATE: I bought 10,000 [[EWP]] under $40.40, based upon my balls to brains relationship.

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Here we are aboard that fucking airplane from Final Destination. I see burlap everywhere, as men with small brains and big balls make directional bets based upon the sovereign debt load of, ummm, Lithuania. For the record, The PPT has just dipped below 2.30. I knew we had another flush our coming. Well, here we are flushing away like children in the bathroom.

Commodities are being thrown down empty elevator shafts, alongside people who are long said names. If you’ve been buying the dips today, you have been taking shark bites to the face, as the slippery slope keeps getting sloppier. What is my level of confidence regarding my longs, after this sell off?

Answer: very high.

I know it sounds nuts; but I am more confident now than I was yesterday. In order to move forward, we needed a flush out. Don’t get too excited there buddy. We may drop another 5% before the market regains its composure. With my money, I am waiting until 3:55 to do some bargain shopping. Then, I will shop a little more tomorrow, providing we dip again.

It’s fucking uglier than a bear with lipstick on out there. But at least we are getting the flush out we need. I’m like George Bush and shit out here, staying the course, “going it alone,” despite that shit looking retarded to all of you ham and eggers.

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