Chill Out

I’ve been out all day at some asinine meeting/event. Actually, for normal people, the event was rather enjoyable. But not me. No, I’m over there checking quotes every 5 seconds, like a neurotic nicotine addict, jonesing for a large cigar.

I see tech stocks are receiving multiple homo hammers today, including my RFMD position. For the record, may God strike those who bet against my positions.

I told you to wait for cheaper prices, while also saying the market should go higher. Try figuring that shit out, while drunk.

I’m tired of being a bear, betting against humanity and wishing ill will on banking execs. 2009 is the year of the kind, gentler Fly, who is still capable of punching your chest hairs off without provocation.

It’s time to practice what I preach, by way of defending some of my positions.

More on this later.

Forget about the banks. You are obsessed with them and it’s not healthy. Aside from tech, oil is playing a material role in the current rally. APC priced a retarded secondary, putting some oil indexes into retardoland. But, the commodity is up, which is all I really care about. The stocks will act like stocks— idiotic—until they don’t. In the meantime, UCO is worth a look.

“The Fly” is more concerned with the important matter of reflation or the presumption of such a Godly transition.

With that in mind, I want to buy beaten down oil/gas stocks, mainly because it’s fun and I like making money. Names like FTK, PLLL, NGAS or even BEXP intrigue me. Trust me, there are a lot more. If you want to talk turkey, be a man and join The PPT; quit freeloading your life away—like some sort of minimum waged doughnut maker/slave.

As for today’s tape:

So far, I like the action in SFE (cheap as balls), CUZ, TWi and GMO. My gut tells me RFMD will print $3 before $2. However, as of now, the market forces are telling me to chill the fuck out and wait for better prints, since the bears are open field running—naked—on the banks and cre here.

For now, I will find a way to entertain myself, while prices come down to more attractive levels.

I peruse over the blogosphere, every so often, only to find myself appalled over the low quality shit being published by know-nothing losers, or hacked out, one trick Doctor crack habit ham and eggers. Believe me, when it comes to putting thoughts into words, my nose is very high in the sky, indeed. As a matter of fact, if the art of blogging was a tea cup, I’d hold it with my pinky extended outward.

Believe it or not, the best way for you to become popular or relevant is to surrender to the Godly folks at iBC and post regularly in the PG. I view the PG as iBC’s farm system, where talent is cultivated and readied for prime time. Don’t get me wrong, some of the people posting in the PG are highly talented and responsible investors. However, blogging is more than just splashing a few fucking speadsheets onto a page, with a stupid paragraph or two affixed to it. Most people just ignore that sort of crap.

Many are envious of “The Fly,” for good reason, of course. After all, he commands an army of loyal subjects, while you are just some dickhead, twittering away into the collective oblivion.

The House of iBankCoin is built upon a golden temple of fidelity. None of you clown-fuckers can ever come close to what is being actualized here. Inasmuch, you’re better off writing in a bitched-out diary, than competing versus me.

[youtube:http://www.youtube.com/watch?v=cJo-IYErOeQ&feature=channel_page 550 400]

I quote the great Mark Haines, resident fat guy from CNBC, because he is a man with worldly advice. He knows, as well as Dennis Kneele and James Cramer, that we are, indeed, in a new bull market. Betting against such men is equal to playing with pinless hand grenades, inside of a dynamite stick factory.

You don’t like the market? Good, short it with all of your might. What do I care? Stick your short ideas in your ears and go for a swim to Canada. If you are cursed with actually living in Canada, just remain where you are—that is punishment enough.

I fucking ruined my lawn, yet again (I ruined my lawn two years ago). I was at Lowes the other day and bought some of that “Turf Builder” crap, thinking I’d “outgreen” my neighbors and make them green with envy. Yet, much to my chagrin, I am now blessed with crop circles, all over my stupid lawn. People pass and laugh, exclaiming: “look hon, it looks like a UFO landed here.” Then I come out, with my bearded face and shot gun, ordering them off my property. Sometimes I let off a warning shot, just for dramatic effect.

The market dumped out today, led by banks and CRE. To be honest, it really is no concern to me, just yet, especially since I have a rich cash position (35%) and “better-than-you” (50%+) year to date gains.

If my crystal ball is accurate, we will trade higher tomorrow, led by oil/gas.

For fucks sake, the CAT finance bonds, bought @ $93, 7.5% yield, which many of you poked fun at, are now trading near par. Once thought to be dead bank stocks, like CORS and FTBK, are alive again and eating the brains of those who are short. Tech stocks are ignoring today’s “death to equities” chant, all the while you—the last man fighting ww2— keep shorting the banks.

What the fuck do you idiots need, in order to stop you from hurting yourself? I am intervening in your stupid life, on a continuous basis. After my 1,000th win, you’d think that my word meant something, but no. You and your ego, remain steadfast in shorting the market until your pathetic online account is gone.

I initiated a position in SFE today, despite its rag-tag equity price. Truth be told, I buy SFE once every 5 years: I never lose.

At these levels, I like CUZ, TWi, ATHR, SFE, RFMD, FTK, GMO and DELL.

However, due to my insane year to date gains, north of 50%, I will not dive into the market—on a mere 100 point pullback. I have a 35% cash position and will use it to buy real dips, not this cowardly cub-like scratch.

UPDATE: I bought 20,000 BEE @ $1.36

I bought 66,000 SFE, between $1.04-1.05.

Disclaimer: If you buy the above stocks because of this post, your only son will grow up to be a penny stock promoter. And, you may lose money.

NOTE: SFE is a holding company, with investments in a variety of companies, like CLRT. Its position in CLRT, at current market prices, is worth more than all of SFE, effectively rendering a valuation of SFE‘s portfolio of privately held companies worthless. In my opinion, this is a mistake.

The little cubs are out in force today, pressing stocks lower to the tune of 1.3%. The little cubs, if I might be so bold, have small paws and dull teeth. I let these little living stuffed animals chew on my arm, out of sympathy, for I know they cannot hurt me. I throw raw pieces of meat around the office, daring the little cubs to come and get them; but they never show.

I declare: the days of fearing the bear are somewhat over, at least temporarily, as the drunken bulls shift their fiat currency from one piece of shit stock to the next. Much to the chagrin of the little cubs, there is nothing they can do to stop the tidal wave of reckless abandon. People are making money in stocks again and it is a dangerous task trying to stop a runaway locomotive.

As for me:

I have monstrous gains in ABK, thanks to Lord Jake and his puppet sock band. My biggest intra-day loser is TWI. But, I am still up following Friday’s melt up. And, my latest foray into RFMD has proven to be an accurate one, thus far.

Bottom line: If you are keen enough to catch the dips, do so, However, just know, the stock Gods have blessed this market, and in my opinion, it is going higher. At the moment, capital is flooding the banking sector, in order to fill egregious secondary offerrings. Once the offerings cease, BAD-BING, up we go.

UPDATE: I sold out of my ABK position, north of $1.88

Apparently, some of you are.

From a psychological stand point, which is paramount when trading, the market has bottomed. Naturally, that is an easy thing for me to say, AFTER a 36% gain from the lows. I am just stating the obvious.

Look, I hate this shit as much as you. I don’t want to see things back to normal, status quo, so that my children can get poleaxed by egregious tax rates, in order to pay for today’s sins. I contend, it’s the fucking baby boomer, hippy, degenerate generation who ruined this country. That’s all.

Back in late 2002, if you would have went up to me and said “yo fuckface, 2003 is going to be a banner year for stocks. The NAZZZZ will be up 50% and dozens of sub $5 stocks will go up 500%,” I would have punched your lights out and “fistfully” removed your eyebrows from your face. I mean, post 9/11, dot com crash, we had a lot of bad mojo working for us, as we do now.

The market will continue to go higher, providing people think the economy is on the mend. As bad as the numbers are, there are signs of life, particularly in the factory utilization rates. I will cease playing the long side, when those utilization rates downtick. It’s as simple as that.

As for the banks:

Let’s face it: they will have NO PROBLEM raising $75 billion, as mandated by the Government sponsored “stress test.” For the love of rotary phones and outdated running shoes, WFC raised over $8 bill on Friday. If news of a $75 bill short fall hit the tape 3 months ago, the Dow would have plunged to 5,000. Things are different now. Like it or not, some people have made a lot of money in recent months, including me.

When people make money, their risk appetite expands. I know people that were getting long commodity related names, like TCK, in the low 3’s—now trading north of $13. Again, there are a lot of people who have made a lot of money, during this recent run.

Will it last?

I don’t care.

My job is to read the tea leaves on a daily basis, which is why I get paid the big bucks. I micro-manage. I do not build accounts, then shuttle myself off to some stupid island, where pina coladas are served poolside. Fuck that. I torture myself and everyone around me to perfect the art of money management. As you know, I don’t take breaks and I rarely go on vacation.

As for the unimportant matter of penny stock investing:

Define a penny stock. Are ALU or RFMD penny stocks?

Answer: NO, not in the traditional, “this is a scam so run,” sense of the term.

They are liquid stocks with big underlying businesses. Keep in mind, during the market bottom of 2002, the biggest winners, BY FAR, were sub $5 stocks, like GLW and LVLT. There is no valid reason, aside from a phobia, to cast away sub $5 stocks when trading. It’s not like someone is going to put a big fucking sign on your garage door: “HERE LIVES A PENNY STOCK PIKER,” upon purchase. Chill the fuck out. Drink a beer; buy a sub $5 stock, with a stop and small percentage of your portfolio.

For the love of gay giraffe’s and purple marijuana, I only buy them because they make me money. The second the penny stock trade dies, will be the moment I curse them to hell, for eternity.

At the end of the day, you have to make a decision: Will you just sit around, like some sort of paradiddle, watching everyone else make money? Or, will you step up to the plate and take a swing?

Time to get your Starbucks card repolished and your Best Buy visitations back up to 2006 levels. To put it succinctly: fuck what you heard, THE BULL IS BACK.

Developing…