Fly Buy: MER

I bought 10,000 shares of [[MER]] @ $46.20.

Disclaimer: If you buy MER because of this post, the “credit crisis” will turn out to be real. And, you may lose money.

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China is a very stupid place. Any stock market that is able to climb by 9% in one day is run by incompetent jackasses.

I no longer fear China, after yesterday’s display of stupidity. Put me in charge of the U.S. Naval Fleet; I’ll have them making our toys for free, within 15 days!

Regarding the market:

[[FXP]] is up. I own it.

[[CTRP]], [[SNCR]] and [[GSI]] are down. We’re off to a bad start already with these longs and shit.

Fuck [[POT]]. I’m still short the name and intend on covering, under $100. Call me crazy, see if I care.

[[SKF]] is down. Good, I am out. [[SRS]] is down. Bad, I am still in.

[[TSCM]] is down, as it should be. And, [[MS]] is up, enabling “The Fly” to short more at higher prices.

In short, I no longer have designs to blow up the globe or see U.S. indices crumble like, like a large crumb cake (bad analogy, fuck you). I think the bears are weak assholes, who do not have the gumption to fulfill their destinies.

From here on, I might become an asshole dip buyer of the worst order. The type of guy who will tell you, to your face, “inflation doesn’t matter, nor do jobs; buy more [[RIMM]].”

Oh yeah, that type of guy.

Developing…

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Good for those bearshitters. Let them feel the blade of hades, like I unceremoniously felt during today’s session.

From here on, I warn you—there will be no more bearish commentary from iBC. That shit has been discussed and cordially banned from our web pages.

I want to be part of the nirvana that is taking place in the global markets, thanks to the global growth story.

Right off the bat, I want to get long shit. I mean the lowest order oil/gas stocks. The speculative juices are flowing. Therefore, I want to catch a few sharp spikes in the crappiest stocks known to man.

My watch list includes:

[[FPP]], [[TRGL]] Romanian gas, [[MPET]], [[OMNI]], [[NCOC]], [[RAME]], [[TEC]] and [[TGC]].

Regarding Chinese lottery stocks, I like them all. With China up a staggering 8.5% in early trading, expect to see [[FXP]] down another 10, while investors bank coin long lotto.

Currently, I own [[GSI]], [[CTRP]] and a little [[GU]].

First thing tomorrow, I will look to buy [[CN]], [[CHA]], [[EJ]] and [[STV]].

May the Dow blast through 13,000, on its way to 15,000 by July 4th.

Good times.

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For more useless rants.

Apply within.

UPDATE: Ducati has been rehired by iBC. Welcome back Lord Duc. Good to have you back on board the iBC team.

UPDATE II: Ducati has been fired, yet again. We are still accepting applicants.

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

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The market is always trying to bankrupt its participants. It throws wild fastballs at heads and Chinese nunchucks to nuts.

The reason why I sold my [[SKF]] was simple. If the fucking banks cannot trade down on that [[ABK]] news, when will it?

My stubborn approach of marooning myself on the island of Armageddon has ended.

No longer will I dedicate countless hours to internet rabble, discussing the current state of the housing market or retail sales. It worked for awhile and now it’s bullshit.

Do not take this post as some sort of capitulation. It’s more of a realization of errors and obedience to the market headwinds.

Eventually, the market will trade lower. In the meantime, I need to start making money again.

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I sold all of my [[SKF]], upwards of $108.

I’ve been buying [[GSI]], since yesterday, and will add to it on spikes.

I bought a boatload of [[CTRP]], to hedge my retarded [[FXP]].

I bought [[SNCR]], as a play on Apple’s earnings. You know those fucker are going to blow off the doors.

Finally, I covered my [[MON]], [[TSCM]], and [[MS]] short.

Currently, I have some [[SRS]], [[SMN]] and loads of [[FXP]]. However, should tonight’s earnings from [[AAPL]] and [[AMZN]] be gangbusters, we shall see 13,000 Dow by 9:35 am, tomorrow.

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Hey assholes. Quit worrying about Ambac and MBIA and go buy some bank stocks. We got it covered. All buyers of bank stocks will receive free shrimp and cheddar cheese. And, you may be able to win a flat screen tv.

Remember, we can kill you through bad food, medicine or pollution.

Government UPDATE: I remind you, both Ambac and MBIA are AAA rated.

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I swear on a stack of newspapers, in no way do I find the rise in food prices to be funny. Having a large family, I can tell you, without comedic undertones, I despise going to the grocery store.

As you can imagine, Mrs. Fly likes to venture off to buy food, snacks and all sorts of beverages, from different parts of the world—mind you. “The Fly’s” pantry and ice box is stuffed and stacked with delicious delicacies from Beijing to Guayaquil.

Quite honestly, as opposed to outright lying to you, this blog post you are reading will not help you make money. Shoot, it won’t even assist you in losing money, which is now my specialty.

It really is just a ploy to waste your time. Much too often, “The Fly” slaves over his pristine keyboard, giving you things to ponder about, over a nice goblet of wine or filthy cigar filled ash tray. However, for today only, there will be none of that. Just plain ol’ waste your useless time on the internet, yet again.

I look forward to having these discussions, and more, sometime soon.

Hip-Hop UPDATE: A special song for the [[MBI]]-[[ABK]] bag holders.

[youtube:http://www.youtube.com/watch?v=WQbHAY1VSj0 450 300]

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Here we go again. [[FXP]] is officially being deballed this morning, thanks to the heavens bestowing great equity surges in [[LFC]] and [[CHL]], amongst other Chinese related names. This is truly a hex on “The Fly,” as he meanders around—shifting from one land mine to the next.

Sure, [[ABK]] and [[MBI]] are done, but who really cares? The mortgage insurers are old hat. Ag plays are retracing, particularly [[MOS]], [[POT]] and [[MON]], but I’m sure it is a temporary phenomenon.

In short, I have no choice, but to swallow my courage pills and buy more (slowly) of that God forsaken double inverse ETF from hades.

It is now near its 52 week low.

In other news, all airlines are going to be bankrupted in 2008.

More good reasons to buy stocks.

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