Resistance, part II

Financials are spearheading the rally. I’ve got a splendid decision in front of me: sell my [[UYG]] or [[SRS]]. At this point, the market has the look and feel of a clean breakout. On the other, common sense says we’re due for a pullback.

The good news is, we are seeing a collapse in commodity related names, thanks to a strong dollar. This, as you know, was the original reason why I was buying [[SMN]]. It wasn’t a bearish call on the market. I bought SMN as a stealth bull call, thinking the commodity related names had to be sacrificed, in order to let the market run.

Finally, it looks like that trade is setting up nicely.

Right now, with my money, I like [[NVDA]] and [[HPQ]].

I sold 2,000 [[CTRP]] @ $63.90.

The month of April was a glorious one, for the Godly folks at iBC. Traffic hit an all-time high, yet again. The little amount of advertising revenue generated hit a high. And, finally, we added a new blogger (Adam) to the mix.

As for my readers:

I do not hate you anymore. I harbor mild disdain for most of you. Quite honestly, you are a benign bunch, with little to say, little to do. However, I do hate the readers of other blogs. That’s right. I’ve turned my guns of “death and cannibalism” on the readers of other blogs, as opposed to having them on the actual third tier bloggers.

Why bother destroying third tier bloggers? Look, they’re harmless. I even hired one of them to host iBC’s May 6th elections.

Speaking of which, according to the latest poll data, GW is in the lead. I’ll have you know, “The Fly” will be announcing his endorsement, through Dinosaur Trader, on May 6th.

As for the markets:

Oil stocks are enjoying a double “fuck you, you’re dead,” as the commodity slips and [[XOM]] shits the bed—due to margin pressures. Quite frankly, the refiners are to be avoided at all costs, except death. If you are threatened with “sudden death” for not owning a refiner, buy one. You can always sell it later. They are saddled with so many input pressures, I wouldn’t be surprised to see them start losing money.

With the temporary resurgence of the dollar, expect all commodities to get laid out across the pavement. Good plays are [[DUG]], [[SMN]] and my favorite: short [[POT]].

Tech looks to be an early winner today, with strength in [[AAPL]] and [[RIMM]]. For a trade, I like retail. [[VLCM]] is spiking on good numbers. Look for [[ZUMZ]] to trade up in sympathy.

[youtube:http://www.youtube.com/watch?v=qZlcnuA5Jn4 450 300]

NOTE: This has been a paid advertisement by the “Elect Alphadawg” campaign.

Let’s recap:

The market has run 1,000 points on optimism over a economic rebound, not a resurgence of the banks. Let’s make that clear. Everyone knows, the banks are NOT prudent long term investments, yet. They are trades.

In light of the recent run, many people, myself included, will take profits—fearing a pullback is in order.

This does not mean the Dow will retrace to 12,000. If the market dips, look for a 200-300 decline from here, then a resumption of the upward march.

Although you may not agree with my trigger finger approach, I must tell you—it is gratifying.

In order to erase my recent losses, I have to be more agile and sensitive to market trends. Meaning: I will show you trading fuckers what a true “calculator brain” can do, when properly motivated.

So, to sum things up, I am cash rich. I have static short positions, with movable longs.

I will be scalping trades, on a daily basis, much to your chagrin.

UPDATE: Stay tuned for a paid commercial from Alpha Dawg.

I sold 5,000 [[CTRP]] @ $62, 5,000 [[WB]] @ $29.43 and 5,000 [[HANS]] @ $35.97.

Do not misconstrue my internet friendliness for softness. I will fucking kill your goldfish and have your eyebrows punched off—with a snap of my fingers.

After coming down from my caffeine high, I am paring some of my longs—selling off some [[CTRP]], [[SNCR]], [[WB]] and [[HANS]].

Although I believe the near term direction is up, I am respecting the obvious 1400 S&P resistance, despite hating those who look at charts.

In short, you are not better than me. You are a “homo-hammer” recipient and will respect my market mastery, whether you want to or not.

Good Day

NOTE: In the event the market spikes tomorrow, I have long positions in [[UYG]], [[HANS]], [[CTRP]] and [[WB]] to offset my short positions in [[SRS]], [[FXP]] and [[POT]]—giving me an overall slightly bearish bias.

UPDATE: Stay tuned for a paid commercial from Alpha Dawg.

[[POT]] is not going to $300. Not in my lifetime.

The Fed statements were exactly what the market needed: a bunch of nothing.

On one hand, they sound less hawkish. On the other, they still have the door open for further rate cuts, thanks to the fucktards who operate our banks.

The market is having a very difficult time breaking through these levels. However, I do believe there is room for multiple expansion.

If you’re heavily short, you must hedge yourself with long bets.

If [[BWLD]] can run, you have to believe there is room to the upside in retail names, like [[JCG]], [[AEO]] or [[ZUMZ]].

With my money, I am looking to leg into some [[PJC]] and [[CTRP]].

In short, anticipate an explosion to the upside soon. On that rally, take some profits and go smoke a few cigars over a “rocks glass” of “rich mans whiskey.”

So sorry for the late post. I’ve been busy.

I hope you retards are now able to see, for the 10,000th time, “The Fly” is able to trade better than you, when properly motivated. I’ll have you know, [[HANS]] is behaving “rather slave-like” to my commands and [[CORS]] is going to zero—ever since I sold (yesterday).

While it’s true, my double inverse ETF’s are quite gay, I have made up for them, and more, via bountiful long positions—in a variety of names.

I want you to pay attention to what is going on. No more reading sad housing stories or third rate bloggers, who profess doom, but cannot make you a red cent.

Despite being saddled with extraordinary high inputs, the masters of greasy chicken wings managed to feed the fat fucking faces of America, in record fashion.

What does this mean, ponders the old cow, in front of his computer?

It means the market is ready to bust loose, despite the pending recession—which may never materialize.

Anyway, I am going long all sorts of stocks, including [[CTRP]], HANS, [[LAZ]], [[SNCR]] and [[JCG]].

It’s early 2007 again and there’s nothing you or your stupid friends can do about it.

Regarding today’s Fed meeting:

Should Bernanke do nothing, I am going to lever my long positions, with great vigor. On the other hand, if he cuts and gives some bearish commentary, I might slap on [[SKF]] for a trade.

I’ll say it again: In order for the bulls to have a run away market, they need the commodity bubble to burst. That will happen if the Fed stops cutting rates and if the dollar strengthens.

NOTE: fuck [[POT]]

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

NOTE: This has been a paid advertisement from the elect Prospectus campaign.