Comport Yourself with Dignity

Today’s closing comments come courtesy of Greg Solomon. “The Fly” is too busy bathing in victory, with great humility, of course.

As a point in fact UPDATE: Note the carnage in the infrastructure criminals, specifically Vulcan Materials Company [[VMC]] , Martin Marietta Materials, Inc. [[MLM]] , Eagle Materials, Inc. [[EXP]] and Texas Industries, Inc. [[TXI]] . Another Fly win.

It’s too late. Insurance and other low end lenders are toasty. I will not be participating in the mindless bullish thesis, following the cheap ass Congressional endorsement of the bailout. They are not really behind it. They will be battle axing the treasury forever, regarding the details of the plan and actions.

“The Fly” is in full recovery mode here, making up for earlier transgressions, making you dumbass fund mangers envious of my stock market Godliness.

Remember to nail a few bad auto players to the “wall of death.” CarMax, Inc [[KMX]] and AutoNation, Inc. [[AN]] look especially doomed right here.

By the way, I do not want my tax dollars going to the California Fat Cats. I understand the Governator needs $7 billion from the U.S. government, or else face potential default. Keep in mind, the whole country is in a mess because of the assholes who speculated in California. I say, let California burn to the ground. Let them secede from the Union and figure out a way to stop homeless men from getting foreclosed on their 750k dollar homes.

Immediately, I implore you, call up your local Congressman and demand they “say no” to the California fat cats. Us Main Streeters should not have to bear the burden of those ricockulous assholes.

…despite your bullshit youtube videos and incessant phone calls and intrusive faxes to local lawmakers.

Again, assholes, the government could care less what you and your idiot friends think.

On this bailout, I have decided to do nothing, until 3:30. At the present, I have boatloads of cash and nowhere to put it.

UPDATE: I changed my mind. I am buying blocks of [[SRS]] , [[SKF]] and [[FXP]] right here, right now.

Above is the state of the Hedge Fund industry, as evidenced by the Global Hedge Fund Index. I have never seen or heard of so many funds getting “ape raped” by the markets, than right now.

Every manager got caught heavily long commodities and global growth plays. From Agrium Inc. (USA) [[AGU]] to Olympic Steel, Inc. [[ZEUS]] , hedge funds are fucked and many of them are going out. At the end of the day, many of you will be shocked to see how many funds close. Even popular CNBC guest hosts (Einhorn), who accurately nailed the credit crisis, are down double digits. If you are managing a fund that is deep in the hole, you are done.

Most will close.

Many people are banking on a 4th quarter rally to help save the industry. However, it’s just going to blow up more people, as everyone tries to catch the “hot trade.” The volatility is killing people; and it will continue.

As for the markets:

I am selling most of my longs here. I am more comfortable with [[SRS]] and [[EEV]] , than [[ROM]] and other bullshit longs. The stock Gods bailed “The Fly” out today, via Wachovia Corporation [[WB]] magic. I am grateful for such gifts of coin and will celebrate my “non-win” over a few 2 1/2 inch rib eyes. And, I will drink a nice bottle of Bordeaux.

It’s too late for a bailout. The banks are circling the toilet bowl. Proceed with caution.

Top pick: SRS

So I might end up making money on Wachovia Corporation [[WB]] , after being wiped out? Huh?

I had accepted my fate of being a victim of the FDIC, being a dumbass shareholder of Wachovia Corporation [[WB]] . Following the FDIC “arranged merger” with Citigroup Inc. [[C]] , I thought WB was done. Lo and behold, Wells Fargo & Company [[WFC]] stepped in, urinated on the FDIC and C and offerred $7 in stock for the whole company, which means it (WB) can go higher, depending on the stock action of WFC.

Pretty cool, huh?

The idiots from Congress will vote today, on that big old bailout package that most of you hate. You got all worked up, faxing and calling your local congressman, demanding the bailout be thrown by the wayside. Ha! I guess you thought we lived in a participatory democracy.

Hey jackass, focus on things that you are able to control.

With my money, I will celebrate the life of Bob Steel and look to buy more [[SRS]] , sub $85.

NOTE: “The Fly” wins again, even when it appears he’s been wiped out.

UPDATE: I sold out of all my WB at $6.75, for a loss. I am afraid of the morons from the FDIC. They can still award WB to C, believe it or not. This WFC-WB deal is the way bad banks are supposed to be dealt with. Good bank buys a bad bank—not the bullshit FDIC arranged funerals. I fucking hate the FDIC and their non-capitalistic ways.

By the way, there is ZERO support for the bailout in the GOP. Make sure you are not heavily long. This bill may not pass, after all.

Wall Street is the new Al Qaeda,

[youtube:http://www.youtube.com/watch?v=GTQaocgjLqo]]

NOTE: Much to my chagrin, while getting lost driving the other night, I ended up in this guy’s neighborhood. I ate so many red lights, to avoid probable car jacking, the local drug dealers must of thought I was drag racing drunk.

Look, there is very little to discuss. The markets are insanely gay. Many of you are suffering severe losses.

I rarely make big mistakes. I made some pretty sizable errors getting long a variety of commodity stocks, thinking I was God to the masses of stock idiots. The lesson learned is always the same.

However, this is why I am different than most of you faggots (that was brazen, wasn’t it?).

Over the last few days, I accepted my commodity defeat, like a man, and took the proceeds to buy more [[SRS]] , [[EEV]] and short a variety of auto plays, including Navistar International Corporation [[NAV]] , Cummins Inc. [[CMI]] , amongst others. As a result, I enjoyed big dicked gains today, much to your chagrin.

The trannies are so done, kudos to Carter Worth for that call yesterday. Short all the rails, including Burlington Northern Santa Fe Corporation [[BNI]] , Union Pacific Corporation [[UNP]] and FedEx Corporation [[FDX]] .

To sum things up, I took losses today in some names, including [[ROM]] , Research In Motion Limited (USA) [[RIMM]] and [[UYM]] .

As of now, I still have 25% long exposure, with the rest leaning on you bullish fuckers, via [[REW]] , [[TWM]] , [[SKF]] , [[SRS]] and [[DUG]] .

Jim “bowtie” Rogers is getting rolled on today, as everything from metal to corn gets tossed into a gasoline fueled bonfire.

The carnage is severe, following the shitty eps report from The Mosaic Company [[MOS]] .

In short, deflation has gripped hold of bullshit commodity stocks and killed them. For awhile, the faux inflationary effects of oil/gas/corn inflated commodity stocks, making people fear for their rice supplies. However, thanks to the kickass worldwide banking failure, farmers no longer have to worry about Monsanto Company [[MON]] ripping them off.

However, there is a severe price to pay for this bubble popping, such as massive deduction of tax revenue for the U.S. government. Hell, the oil industry was the only sector left standing. Now that they’re fucked, expect to see even further municipal shortfalls, causing more infrastructure projects to be canceled.

As for the farmers: those idiots will be participating in Farmaid concerts, within 2 years. The credit crisis is killing everything. God willing, the GOP will shoot down the bailout (spiteful Fly wants everyone to be punished for their ignorance), effectively causing unemployment to spike north of 10%.

Already, thanks to the The Boeing Company [[BA]] strike and auto meltdown, 4th quarter GDP will come in at -1.5%. Write it down.

Look, if General Electric Company [[GE]] and Goldman Sachs Group, Inc. [[GS]] has to pay out 10% yields for a Buffett golden seal, what will General Motors Corporation [[GM]] or Citigroup Inc. [[C]] have to pay?

Look out below.

Finally, the carnage in ag plays is spectacular, which includes: CF Industries Holdings, Inc. [[CF]] , Potash Corp./Saskatchewan (USA) [[POT]] , The Mosaic Company [[MOS]] , Monsanto Company [[MON]] , Lindsay Corporation [[LNN]] , Valmont Industries, Inc. [[VMI]] and Agrium Inc. (USA) [[AGU]] . In addition, all basic resource stocks and mineral are being ape raped. I cannot find it in me to buy this dip, after get “coal holed” in Walter Industries, Inc. [[WLT]] .

The fucking farmers are screwed.

NOTE: [[SMN]] is north of $60.

NOTE II: This commodity sell off further emboldens my bearish position on Vulcan Materials Company [[VMC]] , Eagle Materials, Inc. [[EXP]] , Martin Marietta Materials, Inc. [[MLM]] , Texas Industries, Inc. [[TXI]] and Caterpillar Inc. [[CAT]]

Poof. Your bullshit bailout rally is gone.

-Merlin