Position Updates: WB, POT

A tale of two cities, in a sense.

Deutsche Bank upgrades Wachovia (WB 28.69) to Buy from Hold and raises their tgt to $35 from $29, given a view that recent capital actions are the last and a stock price that trade at only 80% of est. franchise value of $35/share

RBC downgraded POT to Outperform from Top Picks with a $300 tgt based on recent share price appreciation. Since the announcement of the Indian potash contract on March 20, 2008, the firm notes POT‘s shares have appreciated by 34%. Firm says their positive fundamental outlook for PotashCorp remains unchanged. The firm also says looking forward over the short term, the news flow is likely moderate with the next focal points being (1) PotashCorp’s Q2/08 earnings release on July 24, 2008, and (2) further spot potash price increase announcements likely in Q3/08 or Q4/08.

[youtube:http://www.youtube.com/watch?v=eOUEItAEF7U 450 300]

NOTE: This is a “paid advertisement” from the “Elect Dpeezy” campaign.

NOTE II: If any of you internet leeches aka advertisers would like to sponsor the iBC elections, email me @ flybroker at gmail dot com. The rate will be egregiously high and will offer you very little upside, fyi.

[youtube:http://www.youtube.com/watch?v=qq1usY4WGIU&feature=related 450 300]

Naturally, I am joking. But, all of this fervor for fucktarded fertilizer stocks must end—badly. On the back of upward surging financials, I expect to see the “farm fuckers” to suffer a great deal, via much lower equity prices.

Ironically, SMN looks good here.

During today’s trading, we did nothing. Most investors are skeptical about taking a position, prior to Chief Rocker, Ben Bernanke.

With my money, I will continue to nibble at WB, LAZ, CTRP, HANS and UYG. However, at the same time, I still have massive positions in SRS and FXP.

Essentially, my recent flurry of long positions has made me market neutral.

With regards to MVIS:

The company is hosting a luncheon in Manhattan tomorrow. I will not be attending, due to a “busier than God” schedule. However, I will have one of my spies in attendance. I will let you know what he learns.

BWLD is breaking out, by the way.

It feels like early 2007, all over again.

I like the Chinese lottery tickets, for a trade. NOEC is my play.

And, finally, expect the market to throw out a flurry of false signals, over the next three days. In my opinion, your money will be best protected being market neutral.

Long financials/short ag sounds good to me.

NOTE: Sometime tonight, Dpeezy will release his campaign commercial. Stay tuned.

[youtube:http://www.youtube.com/watch?v=qvwbDOEOj8g 450 300]

I put about 25k in each of the above names. JOE @ $42.30, LAZ @ $38, WB @ $28.44, HD @ $30, NOEC @ $5.46 and HANS @ $33.27.

Disclaimer: If you buy any of the above stocks because of this post, your country club will revoke your membership. And, you may lose money.

I will probably take a stab at it, below $90. For some reason, people love bank/brokerages again.

Why fight it?

After all, they just reported the most horrendous set of numbers I’ve ever seen, in my 31 years of existence—yet they trade up.

In my opinion, LAZ looks the best for a trade, right now.

In other news, MVIS is climbing today. As promised, I will start to follow the company with greater vigor, during the 2nd half of 2008. Providing they are on track, I will buy some shares.

I’m starting to buy HANS again. Its been a long time since “The Fly” went long, the Godly maker of the worlds best soda pop: Monster Energy Soda.

If only the ungodly cost of production and trucking can go down, HANS would be rocking right now. Nonetheless, they are a premium brand in a booming world, for both KO and PEP. I do not think anyone would be surprised to see a $50 bid from either company.

Chinese lottery stocks continue to impress. Today’s winners are: GSI, GU, SEED, SOHU, NOEC, EFUT, EJ, JRJC, NTES, GSOL, SNDA and WX.

However, keep in mind, towards the end of every rally, the shit floats to the top.

Speaking of shit, “crap handed” energy stocks are running, specifically SYNM, TMY, BEXP and FPP.

My favorite crap roll in the sector is OMNI.

Top pick: LAZ

I sold 10,000 MER @ $49.78.

I’m likely to be less brave, the closer we get to the Fed meeting. Considering how much the market has sprinted in recent weeks, I do not want to be left holding the bag, should Bernanke and Co. displease Mother Market.

So, all recent purchases may get blown out, in order to raise cash and limit market exposure.

It’s worth noting, if “The Fly” had not got his balls blown off in his short positions, he would not be this cautious.

Either way you slice it, ag plays are done. POT, MON and MOS are yesterdays newspaper. I will cover my POT short, under $100.

Finally, I will be taking profits on MER and UYG, up at these levels. And, I will hold LAZ, HANS and WB, for greater upside.

CTRP is not done going up. And, SNCR is a piece of shit. Six out of 7 isn’t too bad.

iBankCoin Presents

ELECTIONS

UPDATE: The Godly folks over at iBC have retained the services of Dinosaur Trader, for the May 6th elections. He will be live blogging the elections here, giving you all the “play by play,” one precinct at a time.

NOTE: He will be paid a very handsome sum of money to perform this duty.

UPDATE II: The candidates will be buying airspace on iBC shortly, in order to beg for your votes.