The market closed strong, as the asshole dip buyer put some money to work—late in the day. For a bounce, I bought some [[WB]]. Let’s see if it sticks.
All in all, “The Fly” is becoming increasingly bearish. However, he does have a multitude of long positions that may need to be clipped, in the event of a full fledged market retreat.
I’ve done well with “The Bank of Cocaine” aka [[BAP]]. However, it may be time to take some profits.
It appears the U.K. is starting to “enjoy” a housing crisis of their own. I wonder what the ramifications will be? Perhaps higher equities?
I think not.
For the time being, the energy trade is still intact. Some of my positions include: [[ARD]], [[FTK]], [[NOV]], [[RIG]], [[PCZ]] and [[PZE]]. They all look good.
Expect tough times ahead. If you have bountiful gains, consider taking them, prior to smoking a large cuban cigar, with a large serving of aged Portuguese Port.
In short, “The Fly” is in control of an egregious time machine. Let’s see if the bulls will fight back tomorrow.
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