Common: Universal Mind Control

[youtube:http://www.youtube.com/watch?v=9UyVsm7Xrio 450 300]

You may think “The Fly” is insane, with his intra-day madness, switching positions from bull to bear back to bull. However, if you don’t know by now, the market is offering investors/traders annual moves in a day, or sometimes hours. In other words, the type of shit you see me doing now, I might have done in 6 months of trading, all in one fucking day.

Everything is fast, as men with large pockets full of cocaine trade stocks, as if the world had a fucking time bomb attached to it.

Just to recap:

At first, I thought the market was going to melt up, in a very SHAM-WOW sort of way. Then, all of a sudden, the market started to nose dive, which in turn scared the shit out of me—unwilling to ride the market down anymore. So, quickly, I took profits on BAC, GE and a variety of other names.

Here’s where I fucked up:

Getting greedy, I rushed into FAZ and FXP, into strength. Big mistake.

Soon enough, the market remelted higher, likely as a result of a big market seller getting cleaned out. Worried about my exposure to 300% instruments of the devil, quickly, I hedged it with TNA , KBR and some GME.

At the end of the day, I nearby killed myself, all for nothing. I made a bunch in my longs, got murdered on some inverses and ended up a few percent, net-net.

Basically, I am willing to be short a few banks and loads of Chinese names, while long other stuff. If you are short oil stocks, you have to be worried, since oil stocks are bucking the trend higher.

In short, I should have taken my own advice and went for a sandwich instead.

I had enough of this shit. The market is being run by the lunatics inside of the peanut factory.

I just fell victim to an old fashioned shake out, by selling a variety of longs—thinking the market was about to crap the bed.

Aside from the price action, a few things bother me, namely the incessant move up in t-bills and the collapse of oil. Aside from that, everything is peachy.

I sold out of my GE, BAC positions, but kept KBR, M, ROM, UNH, GME and many others. I bought more FXP, like some sort of crack addicted heroin user. And, I dipped my toes into the empty pool called FAZ.

In short, it’s time for me to get on a plane and head back to Romania. You know, tend to the mountain goats and take in the 3rd world atmosphere.

NOTE: Before I leave, I am buying a little more FAZ, down $10.

I sold 75,000 GE @ $16.95.

UPDATE: I sold the rest of my GE, north of $16.90.

UPDATE II: I sold out of my BAC position, north of 13.70.

UPDATE III: I am selling out a variety of longs and adding to FXP and FAZ. This is a worst case scenario for the markets. However, with the majority of the proceeds, I will hold cash.

Fuck this shit. Time to raise cash.

You shorts thought your regular paper towels were super absorbent. Guess what, the bulls rags are made by the Germans. You know they make great stuff.

The SHAM-WOW rally rag is sucking up all of your money.

Look bears, see all that money, cola, coffee and coin? The SHAM-WOW rally rag sucks it right up.

Quit wasting money on paper towels. My guess, you are spending at least 20 bucks per month on those old things. Get with the Germans: SHAM-WOW.

Into this rally, I want to absorb all of the money, cola, coffee and coin from the bears in KBR, GE, M and BAC.

I added to my GE position, buying 10,000 @ $16.90.

Disclaimer: If you buy GE because of this post, in the year of the Dragon, great conflicts will besiege you in Europa, while dark clouds descend upon your loved ones in Mesopotamia. And, you may lose money.

For me, the hard part is to sit with losses, no matter how painful they are. Meaning: it’s easy to cut losses and go short or follow the trend. It’s hard to sit there and say “fuck you asshole, I ain’t selling GE down here.”

That’s where most people start blowing goats (while in a losing position). They get all frazzled and shit, panicking out of stock, knifing into double inverses with impunity.

I don’t know if yesterday was some sort of selling climax or the beginning of a new down turn. However, being optimistic, I held onto 90% of my longs, while adding to a small FXP position (but is getting bigger), just in case news breaks of the pending destruction of planet Earth.

As you know, I’ve been developing an analytic engine, called The PPT. The biggest problem with ranking stocks is the not-so-subtle abject disrespect the market has for good fundamentals.

Meaning: with the exception to a handful of names, all stocks are trading in a convoy, making fundamental analysis almost useless.

Naturally, there are some striking factors that make stocks too attractive to ignore, such as net cash and high dividend yields. But, for the most part, today’s stock market is dumbed down to the point where I feel like I am living in a backward land (Virginia), trading some bullshit exchange (Nasdaq 5,000).

GS caught a downgrade today. UBS is telling investors both MS and GS will suffer big losses, over the next quarter or so. I must say, what happened to all of those asshats who were long GS, north of $200, exclaiming “they are best of breed”?

I warned you before, during the Asian contagion/LTCM crises, GS bit the big one, just like everyone else. No one should expect them to have super man powers and escape this wrath of a meltdown.

As for today’s tape:

The text book says we bounce here. I’ll have you know, “The Fly” does not believe in Santa Claus rallies. However, we’re down in a straight line here. God knows we need at least a one month respite of a calm/upward trading market. But then again, so does my imaginary friend; and he never grants me wishes of “instant death” upon my enemies or large, grass fed, rib eyes, upon a snap of my finger. Believe me, I try.

Top picks: GE, FXP, KBR, FAZ

Yet another pointless PPT commercial. Keep in mind, I waste countless hours of iBC staffers time creating these vids—for no good/logical reason—making them entirely worthwhile, if I might be so bold as to say so.

If you thought the Walmart tragedy was egregious, wait until America is broke ass poor, lacking basic necessities—like toilet paper or cheese.

We will eat the bones of foreign nations, similar to the barbarian hordes of ancient Rome. If you thought electing Obama would bring peace to the world, think again.

We will nuclear bomb homeless shelters in Asia, then send aircraft carriers to sink “commercial loveboats,” in the Mediterranean.

Economic duress brings out the worst in people. As you know, we live in a dumbed down society, that can easily morph from narcissistic to criminal. Within a few years, the depression will get so insufferable, the only place of meaningful employment will be in the U.S. Armed Forces. With 10 million fresh conscripts, President Obama will declare war on Mexico and Canada, and put an end to their assholish free trade ways.

No longer will little Mexicans steal American dishwasher or lawnmower jobs. We now have millions of unemployed stock brokers more than willing to shine up the china at the Four Seasons or bag up leaves for Senor Tropicana.

As for the stock market:

The Treasury is bankrupting banks on purpose, in order to cause pent up demand for their t-bills. If money is not safe at the banks, might as well put it all in t-bills, no?

With the proceeds, the government will build an army of robot warriors, that will eliminate whole nations, in a very methodical, door to door, sort of way—if you know what I mean.

Sometime soon, all of you will feel the full wrath of economic contraction, as if 100’s of overweight gluttons were jumping up and down on your head— at the doorstep of your local Walmart, which happens to have lots of shit for sale inside.

[youtube:http://www.youtube.com/watch?v=donoy6QvRvk 450 300]