Oil Reigns Supreme

The near term fate of this market is completely dependent on the price of crude. If you’re like me, watching every tick, like some sort of box watcher, you know the market wants to go lower. Crude is just waiting for an excuse to spin higher, effectively leaving everything else crisp to a cinder.

At the same time, some energy related names are taking a breather. For me, that means FTK. Let me tell you something, right now, FTK is a fucking steal down at these levels. Should they give robust guidance, the stock will print $30 quicker than Dick Bove changes his opinion on bank stocks.

Elsewhere, I am big fan of SRS, short MER, short LEH and short FED. For some odd reason, FXP tortures “The Fly” with counter-intuitive moves. If FXP was a person, I would have punched its eyebrows off long ago.

I am bottom fishing some ethanol stocks here, specifically VSE, AVR and BIOF.

And, finally, I am a net seller of AUY. The quick move has already been made. The near term game plan is to raise cash, reevaluate the market, then get back in.

A pit stop, if you will.

NOTE: My degenerate OTB pick is LEI.

via Briefing:

Firearms are prohibited.

NOTE: The first 50 to arrive will get a complimentary “FIRE WILLIE NOW” T-shirt.

“I was wrong.” Sell the banks, specifically LEH, MER, MS and GS.

Dick Bove, Egregious Banking Analyst

[youtube:http://www.youtube.com/watch?v=L6_6E0T3wss 450 300]

The soup lines are back. Fuckers are so poor, they’re on sandwich lines, fighting for the ham on white.

Personally, I had another rifuckulous day, up nearly 4%, thanks to bountiful gains in SRS, SKF, FTK, FNSR, BIOF, PCZ, MER short, POT short, LEH short and WM short.

While it’s true, today “The Fly” bought a bunch of bullshit stocks, just know it was barely a meaningful dollar amount. I’ve learned my lesson, via sharp uppercuts to the scrotum, and will not overweight microcrap.

One thing to note: I cannot stand that stupid CNBC commercial, with that idiot doing tricks with the sign. I guess they are trying to target a younger demographic for their ludicrous “Million Dollar Challenge” contest. Again, assholes, your target audience SHOULD be older men with money, not some jerkoff living at his Grandmothers house—trading 10k at E-trade.

In closing, I am here to reinform you that “The Fly” is a Godly investor, with a glorious track record—just in case you forgot.

Off to drink “some rich mans whiskey.”

I sold 5,000 AUY @ $16.40.

Now you shall receive a well deserved “homo hammer of certain death.”

More on this later.

I bought 2,000 PZE @ $14.05 and 2,000 LEI @ $5.27 and 1,000 FTK @ $20.66.

Disclaimer: If you buy the above stocks because of this post, you will be fired, inside of 1 week. And, you may lose money.

I sold 5,000 SKS @ $13.04.