I sold short 3,000 (MXB: 32.81 +2.69%) @ $32. I sold short 3,000 (CAT: 70.31 -0.16%) 71 and I sold short 5,000 (FMBI: 17.48 -4.01%) @ $19.

UPDATE: I sold short 10,000 MXB @ $31.90.

Disclaimer: If you sell short any of the above stocks because of this post, you will go bald. And, you may lose money.

I bought 15,000 (SMN: 33.42 -0.39%) @ $32.15. I bought 500 (RIG: 142.91 -2.15%) @ $148.35. I bought 3,000 (FXP: 91.73 -0.74%) @ $90. I bought 10,000 (DUG: 28.26 +1.33%) @ $27.40.

UPDATE: I bought 500 RIG @ $147.55.

Disclaimer: If you buy any of the above stocks because of this post, a fire breathing dragon will take a shit on your house. And, you may lose money.

I really do think going for the ‘Hail Mary’ put on (GM: 10.12 +1.40%) is worthwhile. Apparently, they need to raise 10-15 billion dollars, in order to stay afloat.

No fucking way that happens, without pain.

On the GM death dance, I like short steel here. I like it so much, I am buying (SMN: 33.42 -0.39%) here. That’s right, “The Fly” can’t lose.

Also, I hope you took my ‘fuck the industrials’ advice and bet against (CAT: 70.31 -0.16%), (TEX: 45.92 -2.75%) or (FWLT: 65.24 -5.53%). I still like them to go lower.

Finally, (PZN: 13.68 +2.09%) will hit single digits. However, I cannot find stock to borrow. If you are lucky enough to get stock, then sell it short, go fuck yourself.

NOTE: I like short (MXB: 32.81 +2.69%) here too.

I covered my (WFSL: 17.29 -2.21%) short, buying 10,000 @ $18.25.

I covered my (HRB: 21.81 -0.32%) short, buying 30,000 @ $21.90.

I know that pony tailed maniac from Fast Money tells everyone to ‘giddy up’ for coal. However, I will tell you, with great vigor, once Obama gets elected, he is going to take that fucking coal and throw it at your face. That’s right, democrats hate coal. Plus anyway, the whole ‘clean coal’ concept is Hollywood baby. All fiction.

With that in mind, “The Fly” is a big supporter of betting against the pony tailed one, via large short sales in (BTU: 77.62 -0.36%), (JRCC: 44.15 -3.50%), (ACI: 63.70 +2.40%), (ICO: 10.56 +0.28%), (MEE: 75.46 +0.79%), (CNX: 94.83 -0.77%), (WLT: 87.57 -1.96%), (PCX: 126.73 -2.30%), (NCOC: 6.39 -7.12%), (HW: 10.25 -1.82%) and (YZC: 89.25 -0.21%). This is a sector with a lot of meat on it. When I told you, “money managers will look for a source of funds,” I was referring to the strongest sectors—like coal, oil, natty, ag and steel.

Let me get it out there, I fucking hate steel. There is nothing I find funny or unfunny about it. I loathe it. I want it to be dead.

With that in mind, why not jump on the ’steel funeral bandwagon’?

While the banks take a breather, the ‘global growth’ plays burn. They’re crashing today. Eventually, this will permeate the general indices, forcing the Dow to swan dive. Short (CAT: 70.31 -0.16%) at will, if I may be so bold.

Anyway, here are some steel stocks to bet against:

(SCHN: 93.25 -2.16%), (NUE: 62.54 +0.97%), (X: 155.80 +1.56%)], (MTL: 42.35 -0.56%), (MT: 83.80 +0.48%), (STLD: 33.30 -2.66%), (AKS: 52.79 -6.81%), (WOR: 18.36 -1.18%), (MEA: 14.70 -5.47%), (SUTR: 5.93 -2.95%), (HAYN: 50.30 -3.75%), (GGB: 21.41 -5.10%) and (PKX: 116.23 -1.16%). If you want, throw in (RIO: 32.08 -0.77%), (BHP: 77.29 -0.59%) and (PCU: 100.95 -0.58%) for good measure.

You momentum faggots thought you could get away with buying shit, after 400% moves, right? I don’t think so. Eventually, Mother Market corrects the overzelous type and puts them to bed.

Enjoy your rest.

I have no interest to trade this market, ahead of 4th of July festivities.

I’ll have you know, I intend on lighting egregious amounts of dynamite and mortars, in order to rattle my fucking neighbors. They’re the snooty type, always looking at “The Fly” in an odd way. You know, the “how the fuck does that young man have more money than me” type of look.

Thus far, the trading session is going according to plan. We’re going lower, even my oil stocks. People are just tossing in the fucking towel, exclaiming “fuck it, sell it all.” The oil plays should work, under normal market conditions. However, this shit is not normal. This is end o’ world trading, where investors are cutting each others necks, in order to make a wooden nickel.

With that in mind, I refuse to buy anymore (RIG: 142.91 -2.15%), above $145. And, I will commence massive buying of (REW: 67.05 +0.22%), whenever I get motivated to do so.

For the most part, the banks are played out, both long and short. They are becoming a waste of time. I do like the idea of being short (HRB: 21.81 -0.32%). However, in practice, it’s as boring as a one legged goat.

With my money, I might add to my (FMBI: 17.48 -4.01%), (WFSL: 17.29 -2.21%) and (TCB: 11.78 -3.52%) short sale trio, or not. Maybe, I’ll just fuck around with (EEV: 83.29 +1.38%).

One thing is for sure, (FXP: 91.73 -0.74%) is on its way to a hundo. Both (CHL: 65.91 +2.46%) and (LFC: 49.15 -0.71%) are broken. Feel free to bet against them with impunity.

Top pick: REW

Wood’s farewell to iBC:

Viz.

UPDATE: iBC presents

The Woodshedder Memorial Disclaimer Page

Quit talking; you’re making me sick. If any of you talking heads were within 30 yards of me, I’d have your mustache knocked off with an idle lamp post.

The market reversed today, off the lows. Under normal circumstances, I’d say we were heading higher for the next week or two. But, something is different this time. There’s some sort of dark cloud over the market, which isn’t going to disappear after one intra-day reversal.

The market needs a catalyst to jump. It needs Warren Buffett to step in and rip the throats out of the bears, via buying out (C: 16.82 -0.12%), or something like that.

However, we all know, that’s crack pipe dreams.

Instead, we get to enjoy the constant and persistent cornering of the oil markets, at the hands of ’sovereign wealth funds.’

Please, don’t tell me the 900 billion dollar Saudi Arabian ’sovereign wealth fund’ isn’t buying massive quantities of crude futures. The oil bubble will pop, when those fuckers endure an $80 down day in crude. You’ll know oil is going lower, when the cameras shift to the crude traders in Dubai, showing despair— and men with their turbans in hand.

Until then, oil is going higher and there is nothing you or your stupid friends can do about it.

For the day, “The Fly” was flat, losing less than 0.3%. I had gains early; but they were stolen from me by asshole auto stock lovers.

All in all, the sentiment is still extraordinarily bearish. On any spike, get your list of stocks worth shorting ready for action.

With my money, I am ready to sell (EWBC: 7.58 -2.45%) above $8, (FMBI: 17.48 -4.01%) above $20 and (TCB: 11.78 -3.52%) above $13.