Whatever

I’m not impressed. This is just more of the same chicanery.

One day we’re up 200, the next we’re down. Wake me up when this dog licks 11,000.

Sure the banks did a synchronized dive into an empty pool. Still, I am not enthralled.

In short, I made loads of coin today. Even my longs went up, with exception to KB Home [[KBH]] and Chipotle Mexican Grill, Inc. [[CMG]] .

Nonetheless, I am not convinced of the bears’ conviction yet.

With my money, for the day, I bought more [[SKF]] , [[SRS]] , shorted Bank of America Corporation [[BAC]] , shorted [[FED]] , shorted Pacific Capital Bancorp [[PCBC]] , shorted Cathay General Bancorp [[CATY]] and a little Goldman Sachs Group, Inc. [[GS]] for the hell of it.

Nothing major. Just a bunch of floaters to make me feel better about myself.

With the elections around the corner and John (Rambo) McCain as a candidate, it’s a good idea to be long military stocks, especially with Russia getting all besides themselves with their low-end tanks in the Caucuses.

In short, once upon a time, “The Fly” was thoroughly versed in the industrial-military complex. I have vast experience in buying/selling the names, dating back to the Civil War (“The Fly” was a stock broker in all of his previous lives).

I like the unmanned aircraft producers, which include ARGON ST, Inc. [[STST]] and AeroVironment, Inc. [[AVAV]] . Some of the big dogs produce unmanned aircrafts too, but it represents a small portion of overall revenue.

In addition, I like all of the big players, which include: General Dynamics Corporation [[GD]] , Lockheed Martin Corporation [[LMT]] , Alliant Techsystems Inc. [[ATK]] , L-3 Communications Holdings, Inc. [[LLL]] and Northrop Grumman Corporation [[NOC]] .

Some niche/marginal players include:

FLIR Systems, Inc. [[FLIR]] , Force Protection, Inc. [[FRPT]] , Ka0man Corporation [[KAMN]] , TransDigm Group Incorporated [[TDG]] , American Science & Engineering, Inc. American Science & Engineering, Inc. American Science & Engineering, Inc. [[ASEI]] , Esterline Technologies Corporation [[ESL]] , Ceradyne, Inc. [[CRDN]] , HEICO Corporation [[HEI]] and Textron Inc. [[TXT]] , who is also a producer unmanned aircrafts.

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“The Fly” will no longer tolerate rubes visiting his Godly site. As you already know, a strict dress code (suit and tie, regardless of gender) is mandatory when visiting this site. Now, in accordance with the basic laws of decency, I demand that you wear white gloves, while commenting on one of my posts.

However, should you ever get the notion or the inclination to post crap on Wood’s, Alpha’s, RC’s, Gio’s, Adam’s or Danny’s blog, feel free to rub bbq sauce on your keyboard before doing so.

As you can see by today’s tape, the stock Gods insist on “The Fly” blogging the internet into submission, via the gift of lower bank stocks. As a point in fact, viz, my average cost in [[SKF]] is a touch under $120, effectively putting me in striking distance to nuclear bomb most of you “blog God” haters.

In all my years managing money, I’ve never been more convinced of the future direction of an individual equity price, more than Vulcan Materials Company [[VMC]] . I protest the current quoted price of VMC, vehemently, with all my might and muster. As a matter of fact, I protest the closing price of this most egregiously run company, dating back 30 days.

If you’re wondering what runs this market, I will tell you. It’s not desire for money or overabundance of greed. It’s cowardice.

Cowards are all around us, infecting the political, social and banking bodies. Everyone is just so scared to lose money or power. They are so scared; they make decisions fit for a mouse.

Do not be a coward, sell short your favorite bank stocks and go punch a goat in the nose.

More on this later.

NOTE: The beginning of the end for ‘global growth stories’ as begun, as evidenced by McDermott International [[MDR]] , Fluor Corporation (NEW) [[FLR]] and Foster Wheeler Ltd. [[FWLT]] . Look for Jacobs Engineering Group Inc. [[JEC]] , ABB Ltd (ADR) [[ABB]] and Terex Corporation [[TEX]] to eventually follow.

I will leave the fate of my blogging future in the hands of upright walking pigs (bank stocks). Over the last three weeks, I’ve endured melt up after melt up, which would be perfectly fine, providing I was long. Being short the lowest order of banks once made me proud to be an American. After all, what country can provide such upright walking pigs, in such a wide variety?

It is a demonstration of true diversity.

Literally, I have 20 bank stocks on my screen worth shorting, right now. You may think the charts look cute, with their little “breakouts” above “necklines” and such. However, consider the fact that I will punch your eyebrows, mustache and hairpiece off your skull for suggesting such things, and you may start to see it my way.

The credit crisis didn’t go anywhere. Global growth is slowing, spreads are widening and we have not even seen the ramifications of bad commercial paper yet.

Be patient.

With my money, I am banking some “gorilla coin” in VeraSun Energy Corporation [[VSE]] and Hansen Natural Corporation [[HANS]] today. VSE reported stellar numbers last night.

Remember, ethanol production is still booming. The problem has been corn. With corn coming down in price, people like Jim Cramer can shut up and let the Godly folks at VSE continue to produce, with impunity.

At these levels, I like BKS, short Bank of America Corporation [[BAC]] , short Morgan Stanley [[MS]] and short Goldman Sachs Group, Inc. [[GS]].

Time Machine Update: I can tell you, with the utmost amount of accuracy and frankness, Willie Randolph will be fired by the All-Star break and (CHL: 60.30 -5.10%) will trade in the 50’s. These two “future facts” are not debatable nor can they be stopped.

UBS AG (USA) [[UBS]] just posted a huge loss (358 mill chf), plus record outflows of over 17 billion for the quarter. And, the CFO got the ax too, for good measure.

If the banks go higher tomorrow, “The Fly” will never blog again.

Developing…

“The Fly” is off to Georgia, to punch the mustaches off of Soviet tanks.

Developing…

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instead of offering meaningless rants, I will end the day with a blueprint for this market. I have numerous trades in place, some are working, some are inverse ETF’s. In order to survive this tape, I think it’s important to have a strategy.

Here are a few of my current positions:

Long bias:

Health care: Auxilium Pharmaceuticals, Inc. [[AUXL]] , Valeant Pharmaceuticals International [[VRX]]

Financials: Assurant, Inc. [[AIZ]] , Credicorp Ltd. (USA) [[BAP]] , Wachovia Corporation [[WB]]

Energy: National-Oilwell Varco, Inc. [[NOV]] , Clean Energy Fuels Corp. [[CLNE]] , VeraSun Energy Corporation [[VSE]] , Aventine Renewable Energy Holdings, Inc. [[AVR]]

Industrials: Lockheed Martin Corporation [[LMT]] , General Dynamics Corporation [[GD]] , KB Home [[KBH]] , The St. Joe Company [[JOE]]

Consumer Discretionary: Barnes & Noble, Inc. Barnes & Noble, Inc. [[BKS]] , Chipotle Mexican Grill, Inc. [[CMG]] , J. Crew Group, Inc. [[JCG]] , Starbucks Corporation [[SBUX]] , Hansen Natural Corporation [[HANS]] , NutriSystem Inc. [[NTRI]]

Consumer Staples: The Clorox Company [[CLX]]

Materials: [[DGP]]

Telecom: nothing

Utilities: nothing

Watch list: Ultra Petroleum Corp. [[UPL]] , The Mosaic Company [[MOS]] , Focus Media Holding Limited (ADR) [[FMCN]] , Arena Resources, Inc. [[ARD]] , ConocoPhillips [[COP]] , DryShips Inc. [[DRYS]] and Zumiez Inc. [[ZUMZ]]

Short Bias:

Inverse ETF’s: [[SKF]] , [[SRS]] , [[FXP]] and [[DUG]]

Equities: Lehman Brothers Holdings Inc. [[LEH]] , Vulcan Materials Company [[VMC]] , TCF Financial Corporation [[TCB]]

Watch list: Marshall & Ilsley Corporation Marshall & Ilsley Corporation [[MI]] , [[FED]] , Cathay General Bancorp [[CATY]] , East West Bancorp, Inc. [[EWBC]] , First Horizon National Corporation [[FHN]] , Potash Corp./Saskatchewan (USA) [[POT]] , Martin Marietta Materials, Inc. [[MLM]] and Terex Corporation [[TEX]]

I do not trust this market. It has been disobeying my wishes for several weeks now. While this circumstance may prompt you to believe “The Fly doesn’t have it anymore. He is like an old sea hag at the end of the bar.” I will remind you: I never lose.

My losses are always temporary, dating back to my birth.

As an aside, I reduced some of my short positions today, only because I need a better balance. Much to my chagrin, I was caught heavily leaning on shorts. As a result, while walking through the forest of market wisdom, I tripped over a Vietnam era trip wire, effectively blowing my legs and arms off.

However, my torso is being refit with robot limbs, which can punch chest hairs off at a rate of 200 per second.

With that being said, with the addition of my new longs: Barnes & Noble, Inc. Barnes & Noble, Inc. Barnes & Noble, Inc. [[BKS]] , Chipotle Mexican Grill, Inc. [[CMG]] , Hansen Natural Corporation [[HANS]] , NutriSystem Inc. [[NTRI]] and KB Home [[KBH]] , I am content with my current mix. And, I am averaging down in [[SKF]] and [[SRS]] here, in very small increments.

Finally, try not to ignore the bad news for too long. This “death to oil” rally will only take us so far.

Top picks: SKF, CMG, BKS