Listen to the Shadows

While at my favorite urinal, one of the shadows approached me— smoking a cigarette— and said: “listen here, see, get the hell out of here, see, and go sell some stock, alright.” Startled by the cigarette in a public urinal, I kindly asked him to fuck off in the shade somewhere; but he was persistent.

The shadow grabbed a hold of me and slapped me. He said: “for the love of yankee candles, get the hell out of here and sell some of that ALU.”

Long story short, despite loving Alcatel-Lucent (ADR) [[ALU]] , I had no choice but to sell some, else get harassed by a smoking shadow at my favorite urinal.

There is a lot of chatter going around today, talking shit about the banks. I am hearing tales of dilution and credit losses. Frankly, who gives a rats ass? The market is dipping again and people are always jittery. “The Fly” has about 20% of his assets in cash and the rest invested in a variety of longs. I will not hesistate to sell them all, if necessary of course.

However, I think today is a good day for a market reversal. Can you say “upside reversal”?

Right now, I am digging Huntington Bancshares Incorporated [[HBAN]] , Pacific Capital Bancorp [[PCBC]] and STMicroelectronics N.V. (ADR) [[STM]] .  Granted, both HBAN and PCBC are fucking turds, especially PCBC and its deficient tier one capital. Nonetheless, I am in these names for a trade, not meant for investment.

On dips, I like Flotek Industries, Inc. [[FTK]] , Advanced Micro Devices, Inc. [[AMD]] , OmniVision Technologies, Inc. [[OVTI]] and Corning Incorporated [[GLW]]

UPDATE: On this rip, I sold out of 75% of my [[PCBC]] position, just north of $2.78

I sold out of 75% of my Alcatel-Lucent (ADR) [[ALU]] position, just north of $3.16

This is fucking boring. I am too complacent to sell out of my winners and not interested in buying such a minor dip. So, effectively, I have nothing to do, other than talk to people—which is my least favorite thing in the world to do. Sure, it’s important to be out there, jibber-jabberring with influential people, in order to gain business and advance up the ladder of  life. However, I really don’t give a fuck anymore.

Instead, I am more interested in eating large quatities of oatmeal, served in big wooden bowls. And, I really do like my energy soda. Just in case you were wondering, “The Fly” is not some fat fuck on a swivel chair with sandwiches on his desk. As a matter of fact, “The Fly” despises fat people and their “fat-fuck-friendly” ways. Down the open manhole for the fat guy, no matter how big his net worth.

I am sure you are wondering about the stock market and my take on what will happen, over the next 10 mins, 30mins and 5 hours. However, I am not interested in talking about stocks; there are plenty of go-getters on this site who have been performing financial magic tricks: you are more than welcome to venture off and leave me the fuck alone.

Sometime today I may decide to buy or sell something or not.

A great man once said: “if your money is not with Le Fly, then you have an idiot for a broker.”

For the ingrates, on a hot summer night.

Ciao

Don Fly

[youtube:http://www.youtube.com/watch?v=X6puBQDdVQw 616 500]

Investors were salsa dancing on the graves of the sideliners today and came close to pushing the market green. Unfortunately, cooler heads prevailed, sending the indices down a smidge, effectively giving the coked out bulls an excuse to buy tomorrow.

We are in the midst of one of the greatest market runs in the history of the stock exchange; and many of you ham and eggers are still jerking off to The Great Roubini’s diatribes. Look you, Roubini was and always will be an asshole, of epic proportions. Most of the Glen Beck crowd are mentally ill and need massive doses of psychotropics, just to cross intersections without getting run over by random 100mph speeding city buses.

Take your handkerchiefs out and throw them on your neighbors beautifully manicured front lawn, and hope the local electricity company decides to jackhammer it.

Top picks: Flotek Industries, Inc. [[FTK]] , Pacific Capital Bancorp [[PCBC]] , Huntington Bancshares Incorporated [[HBAN]]

The market is officially in “shit mode,” as all of the offal floats to the top of everyone’s buylist. From American International Group, Inc. [[AIG]] to CIT Group Inc. [[CIT]] to American Axle & Manufact. Holdings, Inc. American Axle & Manufact. Holdings, Inc. [[AXL]] to Ambac Financial Group, Inc. [[ABK]] ; it’s a shit storm people and you need to take notice.

Typically, when shit floats to the top like this, it means the end is near. Howsoever, this is exactly the sort of trading activity that bankrupted the short sellers of [[GGC]] in two short weeks. Do not assume the market is topping today, just because AIG ripped the pants off then “cock-chopped” the bears into little pieces. No.

Be wary of a “fuck you, you’re dead” top, but respect the markets authoritai.

Courtesy of The PPT, here are some stocks squeezing (BIG SHORT INTEREST, BOZO) higher:

Nordstrom, Inc. [[JWN]] , Hovnanian Enterprises, Inc. [[HOV]] , VistaPrint Limited [[VPRT]] , USEC Inc. [[USU]] , M&T Bank Corporation M&T Bank Corporation [[MTB]] , Incyte Corporation [[INCY]] , [[MASI]] , Synovus Financial Corp. [[SNV]] , Arbor Realty Trust, Inc. [[ABR]] , Huntington Bancshares Incorporated [[HBAN]] , SL Green Realty Corp. [[SLG]] , Insulet Corporation [[PODD]] , Patriot Coal Corporation [[PCX]] , Overseas Shipholding Group Inc. [[OSG]] , Blue Nile, Inc. [[NILE]] , US Airways Group, Inc. [[LCC]] , YRC Worldwide Inc. [[YRCW]] , UCBH Holdings, Inc. [[UCBH]] , Central Pacific Financial Corp. [[CPF]] , Pacific Capital Bancorp [[PCBC]] , Headwaters Incorporated [[HW]] , Advanced Battery Technologies, Inc. [[ABAT]] , Maguire Properties, Inc. [[MPG]] , MGIC Investment Corp. [[MTG]] , The Macerich Company [[MAC]] , Orient-Express Hotels Ltd. [[OEH]] , CIT Group Inc. [[CIT]] , Lloyds TSB Group plc (ADR) [[LYG]] , Fortress Investment Group LLC [[FIG]] .

With my money, I am not as whorish as some of you are with your 10 second trades. I will allocate a small portion of my cash to one of the above names, in hopes of a lotto run higher.

UPDATE: My short squeeze play is [[PCBC]]. I bought 50,000 in the low $2.30’s.

I bought 20,000 TEKELEC [[TKLC]] in the high $16.80’s.

Disclaimer: If you buy the above stock because of this post, you will require hip replacement surgery. And, you may lose money.

TEKELEC [[TKLC]] just reported better than expected earnings and the stock is down 9%. They are a key player in enabling text messaging for the AT&T Inc. [[T]] (10% cust) and Deutsche Telekom AG (ADR) [[DT]] (15% cust) networks. as well as a major player in building out India’s telecom infrastructure. For the quarter, the company booked 67% gross margins and derived 61% of its orders overseas. In my book, this is an opportunity to get long.

Last week, [[ENTR]] reported better than expected earnings. Since then, the stock has been falling. Once again, I deem this to be another asshole dip buying moment.

Despite today’s market sell-off, the bears are in a very arduous position, with commercial Re and banks in the green. If I was a betting man, which I most certainly am not, I’d bet for a market reversal higher today, effectively peeling the faces off of the shorts, like goat head soup.

Energy is doing okay, with exceptional strength in natty. Look for the rally to start there, then fan out.

As for “The Fly” and his positions: I will try to maintain a 20%+ cash position, at all times, since the market is overbought. Additionally, I will be an advantageous seller and greedy as fuck buyer. Essentially, what I do here, on a daily basis, is living art, which CANNOT be replicated or reproduced. Any attempts to reproduce Le Fly’s methods will result in a stern letter from one of my attorney’s, followed up with a punch in the mustachio.

Also, I deem my returns irrelevant, at this point in time. While my gains are chockful and my wins are bountiful, there is simply no reason for Senor Tropicana to lower himself to the low-grade standards of others, via unchecked hot dogging. “The Fly” is humble in his wins and conducts himself in a way that is not only admirable, but coveted.

In short, I will be buying the dip, even if it makes me look stupid. I have big balls and a deep wallet.

Let Le games begin!

UPDATE: I sold out of my ADTRAN, Inc. [[ADTN]] position, just north of $23.45

UPDATE II: I sold out of Abercrombie & Fitch Co. [[ANF]] , north of $29.40

Money is not a problem for anyone visiting the evil confines of Disney World. Generally, “The Fly” limits his spending habits to “low-grade degenerate” while on vacation. However, when you’re at Disney, evil Mickey Mouse takes control of your mind—forcing massive debit card usage.

I was blowing like $100 per day on fucking water bottles, $1k on dining and countless dollars on retarded glow in the dark toys, that spin and shit. All in all, Disney is a terrific place, if you are into just throwing money into fire pits. The way I look at it, I blow 10k on dumbass trades all the time. So, spending 10k on meaningless glow in the dark toys is fair game and good for my karma or chi or whatever the fuck you homofied zen artists call it.

Look you, Disney is a great place to wait in lines and put your body through extreme temperature contests. If you are weak and shit, my guess, you will not leave Disney alive. People with heart conditions will most definitely perish, under the weight of Mickey Mouse’s boot, while waiting in line for some 2 minute water rapids ride, located in “Asia.”

I’ll have you know, “The Fly” enjoyed “Africa” despite the overly racist decorating, concocted by the liberal pussies at Disney. I bought several wooden giraffe’s and made sure to wear a Safari hat, while on the comical Safari adventure truck ride.

My advice, bring the kids to Disney and fall victim to being “Mouse raped,” for it is your duty as an American to do so.