Keep Waiting

While it’s true, one day does not make a trend. It’s also true, last week’s short covering rally does not mean we’ve bottomed.

Last week, those fucking soup lines from “early January” magically morphed into high end Starbucks cafe’s, as poor became rich and the market had “bottomed.”

However, in the real world, where people are getting their houses snatched, financial institutions are eating wood. Capital spending is down and margins are being squeezed.

With my money, I will make sure the downside move is legit, prior to selling more of my long positions. Additionally, I want to remain short [[DECK]], [[LEH]], [[C]], [[BAC]] and [[WM]].

On the long side, again, I like [[AIZ]], [[CMO]] and [[CLX]].

Also, I have a floating position in [[NTRI]], hoping for the fat fuckers to “diet up,” sending the stock higher.

Finally, ahead of the Chinese holiday, expect to see ridiculous runs in China related names, as euphoria peaks. However, this is a perfect opportunity to fleece the fucking rice farmers of their coin, via buying [[FXP]], [[EEV]] and [[EFU]].

Click here for pleasant scene.

“The Fly” is quite pleased to see [[WM]], [[LEH]], [[WB]], [[WFC]], [[ABK]], [[COF]] and [[MBI]] shit the shower.

Last week, the dumbest possible money was piling into banks, as if those fuckers were going to new all-time highs. Cramer was exclaiming, going into recessions, the market goes up in a straight line, with hardly any pullbacks.

In short, my head was spinning, thinking, “how could everyone be so gay”?

None of the above is true. In the past, recessions riddle investors with “fuck you, you’re dead” losses. With regards to timing: typically, the market bottoms out after unemployment reaches 6%—providing the recession is mild.

With unemployment at 4.9% and the economy slowing, you have to be out of your fucking mind to “go long and strong” up at these levels.

Again, without a doubt, I feel the market will trade 10-15% lower in 2008.

On the long side, right now, I like [[CLX]], [[CMO]] and [[AIZ]].

AIZ sells property insurance to banks taking possession of foreclosed homes.

Very nice (Borat accent).

So sorry for not posting. I’ve been quite busy counting my money.

As you already know, “The Giant Top” is in, as investors take a step back and realize the economy blows balls.

While it’s true, typically, markets bottom 4 months prior to the end of a recession; we’re not there yet. In all fairness, the economy needs to get a lot bleaker, in order to shake out the Cramer crowd.

Anyway, thus far, I’ve done nothing today. For now, I’m happy to see the components of [[SKF]] go lower, while [[RIMM]] trades up.

Back to counting my money.

“The Fly” had an unbelievable night—at a surreal Super Bowl party.

More on this later.

Just know, the traders on the floor will run the market higher tomorrow, as the “feel good” attitude spills into market sentiment.

UPDATE: Get your Super Bowl winning “The Fly is Watching You” organic tee’s now—before they’re entirely sold out!

The only reason why railroad stocks are running is because of “coal rage,” not a booming economy.

Go Giants.

Odd, no?

Credit rating boosted to AAA, thanks to a cash infusion of 2 billion goat dollars— from the King of Romania.

Developing…

UPDATE: S&P and Fitch are expected to upgrade “The Fly” to AAA, within hours.

Still Developing…

UPDATE II: “The Fly” may need a bailout, now that he has acquired AAA rating.

Still Developing, pt 2…

UPDATE III: “The Fly” will now begin insuring mortgage backed securities, providing he can get a bailout. Why wouldn’t he get a bailout? He’s AAA rated.

Developing…

UPDATE IV: “The Fly” is too big to fail.

Developing…

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

This week, the bears got their faces punched off, as the banks and homies danced on their own graves. In a odd twist of fate, “The Fly” played this recent run 100% wrong, following his genius early year calls.

Essentially, this week, Mother Market beat me senseless, with ricockulous losses in [[SKF]], [[EFU]], [[SMN]] and [[REW]]. Oh, let’s not forget the psycho move in [[LEH]] too.

I’ve never seen the banks run like this, ever. These fuckers are moving up with a vengeance, out for bear blood.

Trust me when I tell you, short sellers are being depleted entirely of walking around money—similar to what the bulls felt two weeks ago.

If you’re not careful, the market will bankrupt you, then drive you to the front door of your local mental institution.

Finally, it’s worth noting, “The Fly” is confident his fortunes will increase next week. The year is young. We’re just getting started.