Fly on WallStreet

Angelo Mozilo, CEO of CountryWide Financial


Oil hasn't bounced yet. As the market mellows out, look for funds to start flowing back into energy related names. Within the sector, I like UPL, VLO, NEU, ALJ, SU and GLF.

Also, ignore the assholes who say "the Fed's job does not entail saving bad investments, via cutting rates."

Fuck that.

At this stage, the Fed has to cut rates, in order to stay ahead of the curve. The funny thing is, most of the fucktards who are against cutting rates are also bears, who believe we are heading into recession. In other words, they'd prefer to keep rates high, in order to press the economy into a recession. You know, they want to bank a little coin off their shitty short positions.

However, keep in mind, if the bear pundits are correct and we head into recession, clear the deck, periscope up; because we are going down.

Today, I like the action in industrial, energy and metal names. I do not like how the stupid "safe haven" tech sector is behaving, with knifing action in MRVL. That company blows.

With my money, stubbornly, I will buy LNN and ATI. Also, if I'm in the mood, I might take a small bite out of UNG.