TRADE CALL UPDATE: SSO calls: SOJAY

Selling them here @$2.35, bought at $1.85.
You had time to get into these as I said it was a play on the notion that we would bounce. Not bad almost 30% profit in a week.


ONLY WINNERS HERE !!!!!!!!!!!!!

Action today

Got to love the low volume run ups. My question is why not last week??????
Anyways let we say this there is god possibility we grind higher and that was the reason of buying SSO calls last week. I am still out but just check what the market did at the close, I guess they might give Santa his visa :) altough late for the season

Away

Hey readers I am away but just want to update for a bite on some developments.
Firstly I will be having first technical class starting Sunday January 11. Classes will be based on individuals skill levels and we will look at stuff from how to trade, what to trade and where the market will be going in my opinion. Classes will last for 1 hour for each person and depending on the schedule we will see how many I will do in the first 2 weeks. Classes will cost $89 but I am offering a guaranteed stock pick at the end of each class which if you play will net you over $89, so basically the class will pay for itself.
Secondly I am extending my short list for 2009 till after the Inauguration of the new President and the class will be around $125 for 5 picks and $250 for 10 picks.
Third, I will be providing limited live coaching for those who want to take their trading to the next level but pricing will vary on your skill level and how many days I might need to prepare correctly. This is only for people who have time intraday to trade and want to make a living out of trading. I guarantee I will teach you tricks no one else will and show you what the big guys dont want you to know.
Last, I think 2009 will provide numerous opportunities and I have some that I will be playing in my fund. These strategies wont be on the blog so email me for info but these calls will be like 2008 calls on the financials, Fannie mae, Wachovia and the list goes on. I plan on making 2009 a huge year because I believe once again people will get sucked in and KILL this year again. I believe the bear market will last till 2010 but it wont be a straight ride down so you MUST trade it out.


MARKETJEDI-- Please email me to clarify anything above.
markjedi@gmail.com

Worst Predictions of 2008

Here are some of the worst predictions that were made about 2008. Savor them—a crop like this doesn't come along every year.

1. "A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!" —Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008

At the time of the prediction, the Dow Jones industrial average was at 12,300. By late December it was at 8,500.

2. AIG (AIG) "could have huge gains in the second quarter." —Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008

AIG wound up losing $5 billion in that quarter and $25 billion in the next. It was taken over in September by the U.S. government, which will spend or lend $150 billion to keep it afloat.

3. "I think this is a case where Freddie Mac (FRE) and Fannie Mae (FNM) are fundamentally sound. They're not in danger of going under…I think they are in good shape going forward." —Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008

Two months later, the government forced the mortgage giants into conservatorships and pledged to invest up to $100 billion in each.

4. "The market is in the process of correcting itself." —President George W. Bush, in a Mar. 14, 2008 speech

For the rest of the year, the market kept correcting…and correcting…and correcting.

5. "No! No! No! Bear Stearns is not in trouble." —Jim Cramer, CNBC commentator, Mar. 11, 2008. Five days later, JPMorgan Chase (JPM) took over Bear Stearns with government help, nearly wiping out shareholders.

6. "Existing-Home Sales to Trend Up in 2008" —Headline of a National Association of Realtors press release, Dec. 9, 2007

On Dec. 23, 2008, the group said November sales were running at an annual rate of 4.5 million—down 11% from a year earlier—in the worst housing slump since the Depression.

7. "I think you'll see [oil prices at] $150 a barrel by the end of the year" —T. Boone Pickens, June 20, 2008

Oil was then around $135 a barrel. By late December it was below $40.

8. "I expect there will be some failures. … I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system." —Ben Bernanke, Federal Reserve chairman, Feb. 28, 2008

In September, Washington Mutual became the largest financial institution in U.S. history to fail. Citigroup (C) needed an even bigger rescue in November.

9. "In today's regulatory environment, it's virtually impossible to violate rules." —Bernard Madoff, money manager, Oct. 20, 2007

About a year later, Madoff—who once headed the Nasdaq Stock Market—told investigators he had cost his investors $50 billion in an alleged Ponzi scheme.

10. A Bound Man: Why We Are Excited About Obama and Why He Can't Win, the title of a book by conservative commentator Shelby Steele, published on Dec. 4, 2007.

Where did Santa go???

Where did the Santa Claus rally go??? Did they revoke his visa or was he sick or are we just in a real bear market. It will be very interesting to see what we do this first week back from the holidays but until then stay safe and enjoy you holidays.


MARKETJEDI

Pathetic Action

Yes I know it is holidays and I know most are away by now but that should have given the bulls their ways with the markets. This action is very disappointed not that I am a bull (far from one as you already ) but I really thought Santa would at least visit Wall Street this year, but as my friend told me today maybe he was laid off.
This is terrible action and now I firmly believe we will hit 695 on the S&P in January for sure. The only thing I think will give us a break is the inauguration, since the fanfare with Obama initial days will be heavy.
Note folks we were down 50% this year at one point in the S&P, I think next year can be another disasterous year. Time to learn new investing techniques and invest in other avenues because the days of buying and holding is allover.
Another disturbing development over the last two weeks have been the growing about of companies eliminating matching retirement contributions. I firmly believe that too will be a thing of the past and will cause more pain on the Markets as we have less and less players in the markets. The good thing is IF you are knowledgeable and willing to learn about new investments avenues as commodities, futures, forex etc you will be ok, but stocks are going to have a long long road before they rebound. Please folks forget about oh I am in this for the long term so they will come back, the market is NOT seeing 14000 ever again!!!! not in my my lifetime, just like the Nasdaq will never see its 5000 bubble level again, that's just the FACTS.
Long term I think DOW 2800 is more realistic than DOW 14000. I hope I am wrong but hey.......



Enjoy your holidays and travel safe.


MARKETJEDI

Plan for 2009

I am planning on distributing a SHORT list of stock that I think has significant downside for 2009. The list will not be published on the blog as will only be emailed if you request it for a small fee. I feel strong about the list just like I felt about RIMM @$120 which i had as my top short for the next 18 months and it completely collapsed. The list will consist of pure shorts and put options and how to play each of them in detail.

Stay tuned we planning to rock for 2009.


Our affiliated website will be up before the end of year...


MARKETJEDI

TRADE CALL :SS0 Jans $25 calls (SOJAY)@1.85

Just a guess not a big play

Christmas Week

Remember folks dont expect much volume this week. Last weeks volume was terrible even with quadruple witching. Monday and tuesday most traders might just be squaring off positions before the year ends and that might be it for them. Two things concern me here, firstly the second test of 918 was not too convincing and secondly the volume is extremely low which in my mind shows the lack of interest in the rally.
First full week of January the bulls must step up the volume or the fear of non commitment will set back in and we will definitely go down.
One likely scenario here is we get a grind up into the new year then we cramp out in the second to third week of January, then Rally on the Obama's inauguration. This market is trying its best to build a base but the volume is just not supporting it. We will obviously see soon enough.

Been getting a few emails about the action and all I have to say is this time of year most people aren't pushing it and therefore there isn't much to report on. Also we are getting our final papers together for our fund, which should start trading in January. Wish us luck !!!!!!!!!!!



MARKETJEDI.

End of Week

Well this was such an non-eventful week, I dont have much to say. Next week expect the volume to be extra light but I think we should be on guard for higher prices. I will look through some charts this weekend and update with some potential set ups

Thursday

Hey folks - Yep it has been a very slow week and there is a good chance we continue the low volume and grind for the holiday period. Don't overextended yourself looking for trade as they will come to you eventually. I will be in and out today and I am dead beat from having a late night working for some stuff.


MARKETJEDI

Lunchtime

Lunchtime here but volume is low. I am still sticking to higher prices as if the bears wanted to take us down they had alot of time to do it so I am biased to the upside here with at least a test of yesterday's highs

Christmas Rally

Yep yep folks- I still think we have that S&P 980 is in our sight and possibly 1045 if we overshoot. I have been singing on these numbers for the past few weeks and the bigger picture seems to be panning out that way. I believe as long as we stay above the 864 level we are good on the upside, a number which was noted as significant level here.
Tomorrow I hope we gap down a bit so we can take a ride up especially on the stronger stocks and up to the next stop on the S&P which should be 932. As I keep on saying you have to be nimble and since november I have been out of shorts waiting on this upside to play out.
Lets see how we open tomorrow but I will be looking for volume to come in as this has been the thorn in the bulls side and speaks loudly that this rally will definitely FAIL because it is on weak foundation.
I wont speak no the FED decision because it is obvious that we are the next JAPAN. Falling real estate values, poorly run banks, worthless money and zero rates, how ironic when we called the Japanese idiots but we are now in the same position. To my friend Cramer please shut the hell up, STOP telling people we are fine and going high now! The most we have on the DOW is 10300/10500 and I will continue to say that, this is no new bull market just a tradeable rally.


EBAY looks nice here- Hope you all got those calls they are up 30%.


MARKETJEDI

Updating tonight

i will have some updates on the market before the open tomorrow. Going to go through some numbers and where I think we will head. As I said I was slightly bullish and the market pushed higher on the FED decision.

FED Announcement

Wow all time lows on the fed funds rate. Everything looks bullish but who knows here.

EBAY calls HOW WE DOING - THEY UP !!!

FED meeting

FED is meeting today so dont expect much. If yesterday was any indication of what will happen today we will be in no man's land. Today is a good day to take off till the 2PM announcement. Don't force it here, volume will definitely not be there..

Tomorrow

I hope tomorrow is more exciting than today or I will be asleep by 11 am. Just the worst type of day with no direction, no momentum, no volume, not even scalpers can make money in that type of tape. Well remember tomorrow is FED day and what will they say, OH we are becoming Japan :) I mean the FED news should be a non event because they have become irrelevant in today's market.

Non Event

Just a non eventful day today. Everyone is sitting on the sidelines waiting on the FED decision tomorrow. I think one day this week should be very playable as this is options expiration. Volume is extremely low today so it left us in no man's land.

Madoff: Just one of the many

Folks I have been telling you for a long time, wall street is a big scam. Only way to play the game is to be on the same side of the scammers in an legal way. Madoff was running a Ponzi scheme that took some $50 Billion away from investors is just crazy but not unbelievable. The enemy is one's own greed and if you fall to greed you will get burnt in the end.
I remember selling my townhouse in Miami, Florida in 2003 and everyone called me crazy. I would always say, when there is frenzy that's when you sell your assets. A simple formula but it works and will ALWAYS save you. Always get out when the going is good and get in when everything is bad. Now I am waiting for everyone to become bullish on the markets so we can take the axe to it and timber down we will go.
The lesson here is don't get caught up in wall street and their tricks. For us regular guys and gals, we will also lose if you listen to them because they are on the opposing team and there are no ties only winners and losers.


MARKETJEDI

Bullish cycle

Yes folks- Got to read this blog to make the big money. We bounced exactly at the 823-833 range I quoted yesterday and most importantly ended above the 864 level, a level which the bulls are not giving up on.
So where do we stand? Well all gap downs should be bought period till the end of year. I definitely think we will test that 918 level and if we break it hard, look for 976/980 a level I really think we will hit before the next decline. Now we also have another upside project much higher up at 1072/1082 level but that could be a stretch and those numbers could not be in play till after the lows are hit in January and we move into a small bullish cycle afterwards.
I think that level would be fun fun fun as everyone will come out saying everything is A ok and them BAM! we sell off like what we did this year. Nothing is set in stone but I believe that 918 level and 978 zone is calling in the S&P. Yes folks I dont post a bunch of charts and stuff on my blog like most but I will give you what they can't!, exact figures, time lines and plays that WORK!!!. I think everyone think they are smart posting charts and stuff but they wont tell you anything to make money. I am trying to give you as plain as it can be and giving play ideas before so you can profit, not like these guess who are telling you after the fact.
Watch the tech stocks and Banks in the rally as they have been beaten down badly in the down draft. I hope they get GOOG back to the $400 level so we can have fun with it on the downside next year.

Stay Tuned.
The bulls are back at least for now!

MARKETJEDI

TRADE CALL: EBAY JAN $13 CALLS

QXBAK- trading @ $1.86. They expire January and please dont go hog wild.


MARKETJEDI

TRADE CALL UPDATE :GS PUTS

Ok gs puts are here trading for $10.50- so they are now marginally profitable- take them off here

TRADE CALL UPDATE :GS PUTS

Ok guys it might open down around $3. Lets see where the options open and I will give out a trade on the options we own.

Jim Rogers

Jim Rogers, one of the world's most prominent international investors, on Thursday called most of the largest U.S. banks "totally bankrupt," and said government efforts to fix the sector are wrongheaded.

Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the Quantum Fund, said the government's $700 billion rescue package for the sector doesn't address how banks manage their balance sheets, and instead rewards weaker lenders with new capital.

Dozens of banks have won infusions from the Troubled Asset Relief Program created in early October, just after the Sept 15 bankruptcy filing by Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz). Some of the funds are being used for acquisitions.

"Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt," said Rogers, who is now a private investor.

Futures dive

Futures are diving here early overnight. I dont know if there is some news on the auto bailout or some geo-political news but we taking a whacking here 10:30 PM et

S&P levels to watch

We are currently down on the overnight session on news of the Auto bailout being in jeopardy.
If we dont hold 850 the next level to watch is 823-833 with a possible target of 815. This scenario will be negated if we take out 917.50 on the upside.

Will be very interesting

Ways to get postings faster

There are a number of ways to subscribe to the blogs. Two are on the write side of the blog, the first one "Subscribe by email" will send out all updates in the nights. Second options section "Latest Posts" is your RSS feed option which will almost give you real time update of the blog, try that one out if you want your updates as they are posted on the blog. Please email me if there is any problems

How did I know

How did I know some selling would come in today?
You have got to email me and schedule your class!!

DOWN TODAY- HMMMMMMMM

I wonder who said yesterday at the close that we would be down today - hmmmmmm:

Take a wild guess or read yesterday posts


MARKETJEDI

JPM

JPM is saying November was worst month in recent history and that December is looking to eclipse its weakness

Russia default

Russia just defaulted on $40Billion in notes- I guess the whole world is broke!!!

Jobless Claims

Jobless Claims highest number since 1982. Hmm and this doesn't take into account the last 6 weeks of announced layoffs. Can we see a figure up to 800k when it is all over, maybe, that's alot though but maybe we are already heading into those scenarios.

TRADE CALL UPDATE: GS Puts

Ok folks. I have gotten some email on the GS puts. Yes folks they are down a bit but if we get them to break even take it if you can't take the heat. Many of you are caught up the the great plays and 100% moves of many but not all plays will do that. I try my best but reality is there is no way to have a 100% win rate although we try to come pretty close. I still think the play will work but I am not incharge of you accounts so you manage your plays yourself. They are just ideas and you play at your own peril.

Now show me some love GS and die! if it only was so easy :)

Stock to keep your eye on APPLE - Good shot that thing gets killed in the next 6 months.


MARKETJEDI

Auto Bailout

Well what can we say! another bailout. Seem like we have a bailout every month but dont worry taxpayers we will get our bailout soon! LOL. Yep right we are at the bottom of the list and their will be no monies left after all the big guys get there handouts first.
If you thought the AIG bailout was a money pit you aint seen nothing yet. No shot in heaven or hell the automakers wont need more money, it is inevitable. Just like the banks the US automaker business model is flawed and can't be corrected in 12 months, So we will see where their are next year this time.
The market is trading constructively here and there is a good shot that we grind higher. I still think tops one this market is 10300 on the DOW but we will see, I have seen crazier stuff happen. I think we have got to continually watch the volume here as it is not impressive and if we gap down tomorrow it is a green light buy, if we gap up, bracket the first hour and play as such.

MARKETJEDI

Market Cycle

Based on my cycle calculations we might see s push down tomorrow. Obviously news etc can change the momentum but as of now 4:20 PM tuesday, my plan will be to short on a gap up tomorrow. It pays to be neutral here as I have been over the near term for the last couple of weeks, you have got to play both long and short on the market.

Will send an email today on some thoughts

Todays action.

Textbook action here today. Very normal trading testing yesterday's 881 area and closing close at the fib extension value 901.5
We getting some bounce on the oversold material and Oil companies and rotation out of the staples. Mid day today I watched as the bulls tried there best to keep the selling from getting out of control and booyahhh :) we were in buy the pushes down mode.
Nasdaq showed some relative strength but pullback off that high it made late morning. Where do we go from here? Well seem like we can grind higher and 965 area might become the next target if we mount that 922 area.

Meredith Whitney cont'd

Meredith is making a case for house pricing falling another 20-35%, wow. She is saying the housing problem is too big to handle and government and regulators should try and save consumer credit (credit cards) instead of the housing market. I totally agree with this but who am I. I hope some people are listening to her because she was the only analyst on the street who was bearish on bank before everything hit the ceiling.

This bounce is just a bounce, no good news is out there folks. Rio Tinto is cutting 14000 jobs this morning and Toyota is cutting production further. Also news this morning of China's export falling for the first time in 7 years.

Meredith Whitney

Current on CNBC saying the banks are dead money and wont recover for another two years. She is very bearish and she is the #1 financial analyst on the street. Also Ace Greenberg confessed that the financial model is broken and will never be what they were in the past.

Hmmmm I wonder if they are reading the blog :)

MARKETJEDI

Update

Market at its lows. watch that 881 number i mentioned this morning.

Tuesday Plan

Not expecting much today- I do expect us to pullback today, as we should have our turn around tuesday in effect. How far we pullback is the question but watch 881 if we do.

Have a great day


MARKETJEDI

Still bullish after pullback

I am still thinking we go higher from where we are after the pullback. I am definitely looking at the next target area to be 975 and 10000 level on the DOW.

Note I am not bullish overall but just analyzing this as a short term correction in a bear market. What negates this analysis is a close below 860 area, so we must defend that area.

Also I am still expecting a low in January to be set in place medium term

Nice Winners today

Got two very nice and fast winners today. SPY and BIDU buy at the open from the weekend netted over $7 profit in BIDU and SPY calls were up over 15%. Got another play from tomorrow but I will wait for the market open.


ONLY WINNERS!!!

Tip for tomorrow

Tomorrow or wednesday 'SHOULD' be a turn around day. Be careful if you are long and take your profits here. We aint going back to 12000 folks so better take what you can get. I still think we will go higher but I suspect a pullback this week

DOW -9000

Pays to read this blog- Spoke about hitting DOW 9000 early in the week and we just BINGO it about an hour ago. Tomorrow I am already predicting a down day as we are overbought here already.
Lets see where we finish up the day

SPY

Do they want that 922 mentioned this morning???

Lets see

TRADE CALL UPDATE: SPY calls

Out of them here @$12.60

+1.60. about 15% gainer in a day.

ONLY WINNERS

TRADE CALL UPDATE: BIDU

Out +7.25

TRADE CALL:BIDU

Already +$8 in less than an hour- rocking- no way you should lose on it. Take profits as it goes

TRADE CALL:BIDU

Rocking already- rocking

Trade calls:

Trade calls from over the weekend only enter 1/2 at open. Will update.


MARKETJEDI

BINGO 905

BINGO 905 hit on the futures @8:12.

geez-

905 today??

We just hit 901 on the Futures seem like we want that 905 indeed. An overshoot of 905 should give us 911 then next target is 922. Can we get there today? very possible.

PLAYS

Seem like we will move higher into the open. Futures are up huge and I dont like going long on a huge gap up, so hold off on the BIDU and SPY plays at the open.


Will update

Going to rock for 2009

We are going to have the blog ROCKING for 2009. We will be implementing a number of initiatives so reader make much much money. We are going to have weekly discussions, live trading and coaching for those who want to take their trading to the next level.

I am going give out some information on how to calculate cycles to help you invest in almost ANY market. A Very powerful tool which is worth is weight in gold.

Keep those emailing coming and please let me know about things you would like to see and discussed new for 2009.

We will also be launching a premiere website for those serious about trading or experienced traders who want an extra edge.

Marketjedi@gmail.com,


MARKETJEDI

TRADE CALL: SPY $80 Dec CALLS (SZC LB)

Here is the second crazy call. SPY calls. Dec $80 calls (SZC LB). They closed friday @ $9.10 and definitely worth a shot.

TRADE CALL: LONG BIDU

Yes folks another crazy weekend call. Looking at some charts and I think this one might be worth a poke LONG. Does it work who knows but sure worth a shot monday. This one is wild so be prepared to swing with it with a stop loss. Close friday @ $109.



MARKETJEDI

Working on the Blog

Working on the blog folks- So excuse me if somethings looks alittle different in the upcoming days. Also trying to incorporate a live chat on the blog so you can all have instant access to me.

Market on Obama comment

I just got an email about my comment about my Obama entry and was asked if I then believe we will turn bullish. I am saying this! S&P will test that 905 number that's 30 points higher which should correlate to a DOW 9000 number. I am very sure when we hit 9000 many fund managers will think the train is leaving and want to hop on board easily adding us a couple hundred points higher. One good thing to take away from friday isn't that the market ended higher but that it ended higher on the worst job numbers in 34 years, that says alot. Is sentiment changing here? yes or it could be that investors believe Obama's administration will be better for the markets and as such is pushing us higher. Folks I am just a guy with opinions, nothing is written in stone but we have to play it as it is in front of us at the time.

We also importantly broke out of a channel to the upside on the indexes but that doesn't mean we can't trade back into them, so I will be watching the action Monday and tuesday for confirmation on the break out.

S&P 905 baby, 905 is calling.

Obama and the Markets

Yesterday on CNBC I heard something very disturbing by a floor trader on the NYSE when they asked him about the rally that was happening in the markets. His answer was that they hope Obama's administration will be positive for the markets and people looks like they are going to buy into his inauguration. Well folks I dont think it can get much worse than the present administration but thinking that Obama will save your investments is like saying the burglar alarm system is going to save you from an armed gunman outside your home, it ain't going to happen. I am thinking if they are beginning to think like that, the market may actually run up into Obama's swearing in and then tank after a few weeks or months when they realize it was all false hope, which it already is.
How can you invest based on a new administration is beyond me. Just like this present administration has cut taxes, lessen regulation, which are two things the capitalists love as they say it stimulate grow, then why are we in this massive mess?? Answer that question for yourself. Lowering taxes don't help anyone! believe me it has been empirically proven. Ok and we lower taxes how are we going to pay for stuff that we need as a nation especially since we are throwing away Billions to the financial and auto industry, where are we going to get services from with less government revenues. Lowering taxes is just a politic sound bite because it sounds good to get votes but it is a proven failure. Norway is one of the top 5 places to live in the World and they have a tax rate of 50%, yes 50%. Wow that's high right oh yes but guess what, they can provide every single service for their citizens. School is free even university, women get one year off paid after pregnancy, all operations are free including medicine. Now wouldn't you pay 50% taxes if you knew all your 3 kids would have college education and your health care paid for???
Well let's hope we get an Obama rally so we can short the heck out of it down to DOW 5000.


MARKETJEDI

Rules of Trading

I get a few emails of people asking to add to position and asking where plays should go. Well folks I know the blog has an excellent win rate but that doesn't mean I wont have losers (I hope not :) ). These are some rules to follow as an investor.

RULES:
1- Don't hope your position gets profitable. You go into investing with due diligence and only enter with high probability of it working.
2-NEVER add to a position. There will be many many more.
3-NEVER take a big loss. (my greatest weakness)
4-Only trade small so you don't become emotional in any investment or trade.
5-Take small losses and move on. Try to definite risk before investing or trading. The main reason I tell people to trade options.
6-Winning trades will 90% work right away because you followed RULE #1.
7-Never, never get greedy. Take you profits and run. I often have people tell me oh your option play you only took 50% profit but it went to 100%, they never seem to mention when it went to a loser :) if they stayed in. When you go into a trade or investment you look for a target of profitability, if it is hit you get out and don't look back, you made your money.
8-Patience is the key to being a trader or investor. Only wait for great opportunities.
9- My greatest secret in trading. Trading is NOT random. Things run in a cycle and the way to be successful is to find the pattern of the cycles.

Trading INFO.- Class/Coaching

Ok folks I got a bunch of emails today about coaching and classes. First of all, everyone is on a different skill levels with respect to the markets, so all coaching will be live one on one during the trading day. There will obviously be a small fee for this service but will be worth its weight in gold.
Classes I will do in a conference room like yahoo or skype. I do talk to other traders via yahoo messenger throughout the day if I am not extremely busy. Yahoo messenger and skype are both free so it is accessible to everyone. I dont have a preference on which on we will use, so it will be your call.

I am marketjedi1 on yahoo messenger, dont forget the 1!.

Also for those folks interested in futures trading by me send me an email. 2009 is going to be a rocking year!!!!!!!!!

Have a great weekend.


MARKETJEDI

Read wednesday post

904- target here on this push up. Great day for the market only problem was the volume was very low and it would have been better if we hit that 800 level early and rallied from there but it doesn't matter technically as we push towards that 904 number. Expect us to hit it next week and see where we go from there.

Hearing talk about building bottom and the regular crap- It is all for christmas folks and nothing else there is no volume on the upside but impressive that they pushed us higher after those dismal job numbers.

TRADE CALL UPDATE:SDS

Selling SDS at open on this gap down.

$98.50

profit $5 sweet.


ONLY WINNERS HERE!!

Worst number

Worst number in 34 years- woooo- Lets see how the market settles

Job Numbers

-533K WOW not not good

OIL

Oil seem to be looking lower and lower. Oil looks like it can possible touch that $34.50 level. Would be nice for those with those SUVs, opps the repo man took most of them away :)

Job Numbers

Job number out in an hour- The street worst numbers are -535k jobs. We will see soon enough- Area to watch on the downside on the S&P is 830.25

Coaching

I have been asked by a few people to coach them into trading. Yes I might be able to facilitate LIVE via internet if you are serious. Please email marketjedi@gmail.com if interested.

MARKETJEDI

Venting - Part 2 (Trade Call)

I am so upset here- listening I just change to CSI. Great show anyways. Cramer and these idiots I am going to short SHLD tomorrow. I dont care, just to prove to my readers that these guys are idiots I am putting my money where my mouth is.

SHLD closed at $41 today so I am shorting tomorrow at open. I will put the price when I get filled.




MARKETJEDI vs Cramer!!!!!!!!!!!!!!!!!!!

Venting- Trade Call

Don't read if you dont want to read my venting of idiots on TV.
So I am hear listening to Cramer and then some other dumb asses on Tv talking about good buys. Let me tell you this firstly, this market is toast, so you better get some butter or jam or whatever you eat with your toast. Seriously Cramer needs to get off TV. This dude is calling SHLD a BUY! he got to be paid for people to lose money. Then we have these idiots talk about retail stocks, you got to be kidding me, FOLKS retail is dead. Let me tell you this American car companies are DEAD, banks are DEAD, most retailers are DEAD, it is just a fact. Cramer calling SHLD a buy is irresponsible to say the least. SHLD stock got a bump up in the 2003-2006 based on real estate prices which are going to plummet severely in this depression. YES DEPRESSION, dont wait for the knucklehead to tell you we in a depression one year after it actually happen look and realize it yourself.
I am so upset when I hear these people act so irresponsible because it shows how the system can be abused and twisted to take you hard earned money. Folks I have a stock play for you all and if doesn't double you can all call me an idiot.


FAZ- Will double in price and if it doesn't in a year I will never post again on the internet. So I am calling it here and now at $56 as a LONG hold to $110. Its is win or lose play so take heed as I am putting my reputation on it.


FAZ please make me look good :)


MARKETJEDI

Today

Well today we got what was explained in the market. Fear of tomorrow's job numbers had the bulls on the fence after a two day run up. My thoughts here is definitely neutral and I will be looking at the futures very closely overnight to see if it gives us any indication on where they want to push us after the numbers are released. One thing I know those job numbers wont be pretty.
Early next year will not look good and I strongly believe christmas sales will be horrible and the lay offs will increase especially in the first three months. Neutral here right now till be get past that number tomorrow for sure.

If we gap down tomorrow on the numbers I will be looking to sell those SDS shares at a profits. I should have played the options but decided to change it up alittle.
For those with 401k and IRA please email me because I have some way to grow them for you.

Marketjedi@gmail.com

MARKETJEDI

Last 10 minutes

Last ten minutes AT&T announced lay offs and DUPONT swinged to a loss. Futures are taking a hit on this. Lets see if they tagged the overnight lows and maybe bounce later. Who know, with this crazy market

Oil

News lows on Oil here- Wow if you have been reading the blog you would have made money on that play for sure- Oil and the commodities look so weak. Anyone seen copper, grains, oil all slammed. Early this year I expressed the coming downturn in the commodities and it happened faster that I expected but at the expected prices. I still think over the longer term commodities is the place to be not short term they over shoot parabolic.

For today seem like the is going to gap down a few points. I will be looking to take off a long if we gap down within a few points. I think they want us higher here for sure and I am beginning to think that lows might be in for the year. Common Wall Street manipulation for this festive time of the year. So stay sharp if they decide to push us high it might come in huge rushes as shorts try to cover and bargain hunters try to get in on the action before it is over.

THANKS !!

Thanks to all my readers. Today we went past the 1000 post mark on the blog and we are now tracking hits the blog is getting. I must say we are over 800 hits since monday morning so I thank the readers out there whoever you are. Keep reading and please email me! I like to chat with people about the markets and where I think we might go in the future so send an email.


Marketjedi@gmail.com
if you don't know my private email.


MARKETJEDI.

904 Importance

I think the market has to goto 904 here. Reason being if we dont then the January lows will be awful. Don't worry as a push higher will give us a better position to short the upcoming slide down again. There is a good chance after that January lows we will ramp up a couple months into 2009 summer, we will see soon enough.

S&P Futures traders

Some thing to ponder, besides the 872.50 21 day moving avg on the daily chart.... 1008.50 top- 739 low was 269.5 points and a 50% retracement is 873.75!!!

Small wonder the 872.50-877 zone is giving at least some short term resistance. Also note that the entire crash from the May top at 1441.00 to the crash low at 739.00 is 702 points. 0.236 retracement comes in at 904.50.

Action

Action today puts us on watch for the 904 on the S&P I spoke about last week. Todays movement is very VERY surprising as I thought somewhere around the 859 level would have held as resistance. Lets see how this plays out but definitely the shorts seem to be abating here, 'Christmas Rally ???'

The cycle low remember folks should come up in 5 weeks, meaning do we grind higher and set up a mightier fall to panic some or do we stair case down in an orderly manner? Anyone's guess here

TRADE CALL UPDATE: GS PUTS :GS XO($75 Dec puts)

I am riding these for a few days

TRADE CALL UPDATE: SDS

Out 1/2 here +$4.50



ONLY WINNERS HERE-
Rack them up

TRADE CALL: SKF 1/2 lot UPDATE

Selling them all +$10. That was quick.


ONLY WINNERS

TRADE CALL: GS PUTS :GS XO($75 Dec puts)

Buying them here for $9.70

TRADE CALL: SKF 1/2 lot

Long SKF 1/2 SHARE LOT @$142.



MARKETJEDI

TRADE CALL: SDS

Buy SDS HERE @$93.50

Bounce today

The bounce today seems very corrective and not full of life . I believe tomorrow if we gap up I will be looking to short as 805 is a Target here on the futures. Today was one of those up and down days with no news and I have a sneaky feeling traders who want to sell dont want to scare the markets so they are in hibernation.
Tomorrow and thursday I think we go lower. Turn around tuesday was in effect today and 90% of the times works. Lets see how the bulls start out tomorrrow.


MARKETJEDI

The bottom????

Oh yes we bottoming here!!! NOT!!!!!!!!!!!!!!
Come on folks please see the light!! We keep on hearing from these idiots that we are bottoming but yet today we sold off from the get go with no chance of a bounce. I thought I would have some laughs today and watched Cramer and I was just on the floor lol. Cramer calling Citibank a great investment. Could someone please remind the public he called WB, BAC, two of this fortress four about 200% higher not even 2 months ago. I MEAN CRAMER is the biggest loser on this earth but thousands still follow him, just unreal. Just like he called Bear Sterns a screaming buy @ $70 anyone remember?? Cramer should stop smoking or drinking whatever he is doing and shut up.
Anyway I digress again :) Folks we are no where at a bottom and we are NOW in a recession! lol REALLY wow I didn't know :) Where are these people months ago when I was saying we are in a recession, hmm like last year when I said so, but people called me a bear and crazy and said oh yes who are you? where do you work? lol. Oh yes but now they saying we are in a recession from december 2007, this is just too funny.
We are trusting our knowledge to a bunch of morons in every aspect in our lives, it is really unreal. Paulson, Paulson, Paulson, has anyone but me realize that anytime this idiot speaks the market sells off. Do you know why? because the smart money knows whatever he is saying is total crap and he doesn't have a clue what he is doing but he must know! he was CEO of Goldman Sachs, hehehehe, just like his buddies who ran Lehman, Bear, Citibank etc in the ground and said they didn't know what was going on lol. This whole system is a joke, is anyone realizing this, could someone read my blog and give me a million so I can turn it into $20 million in 18 months because I will betting against these morons.

Folks we are heading to DOW 4500, You can call me crazy but you will see and it is documented here over and over. Today one of my buddies asked me to look at the metals. I just did and came up with this analysis, gold and silver should have rallied on all this bad news and it hasn't, that tells me Gold and silver looks lower. I have been saying it Gold looks like $600 more than $1000 but we will see soon enough.


MARKETJEDI

Turn around tuesday

A most of you know I follow something called turn around tuesday especially if Monday was a trend day. Today was definitely a trend day down and based on that I am looking for some upside tomorrow. Today was a lousy day for the bulls but I dont believe the rally is over just yet. I am still thinking the bulls will try again before it is all said on done before years end.
Timing is always the secret in the markets but I think it is more logical for the market to sell off in January than in Dec based on empirical studies so I will stick to that thesis for now.

lets see how much the bulls want to stabilize us here near term as I think 900 on the S&P is still in play. NOW "IF" we dont remount that 897 level from last week before end of next week that will put us on watch for 676. YES 676 which is a new low. I do believe that number will be in play but not before the new year.

WOW

Wow folks this is ending up to be a UGLY day and will put a huge red candle on the daily charts. I was thinking about a bounce to get into some SKF but no dice, that sucker is off to the races.

OIL

Oil looks like it want much lower prices- will update later

WEAK

I guess the bulls aren't back yet today-- Stopped out -5 on that ES play but oh well. Volume seem very little hopefully most traders are back tomorrow and we get a turn around tuesday.

Market is so WEAK

News out maybe affecting the markets of the economic research agency confirming we are in a recession.

854

looking for 854 now to exit

ES Trade

Now positive looking to exit 855

Analysis

Well bonds are rallying and the US dollar is also rallying. The bonds rallying hard here means recessions fears are increasing. The rise in the dollar show that inflation fears are increasing.
I think we might be weighed down today but still expect a small bounce. I am now average 2 ES@848.50. Lets see if I can get positive.

Charts

Charts are screwy becaus of early close on friday - I totally forgot. still looking for 857 to exit ES long

Trying again

buying ES 852, will add if it trades to 846

845/847

should find some support at that area

hmm

took off +3. no real bounce

LONG ES FUTURES

LONG ES FUTURES 858 here and now

Early morning

It is 7:45 am but a quick update. The futures are gapping down and I think good shot we hit 857-860 level in the first hour. IF we do I will be buying there. I will update if I change my mind.

917

917 level to watch tomorrow on the S&P- if we can mount above that we are short term in bullish mode.

Financials

IF and I say IF, the scenario of higher price comes to reality as I think it might, watch the financials for some upside. YES they are dead but they WILL bounce if the market bounces. The great thing is that SKF will be cheaper to jump on. I hope they squeeze it down to 100 level as this would be another gift from the trading Gods.


Good luck this week

MARKETJEDI

Just a thought on this week

Futures just opened overnight and we look lower. A far cry from tomorrow morning but I would love to see us gap down for like the first part of the day then move higher. Watch 905 on the S&P, which is my first upside target tomorrow if we have an upside day, followed by 945. So a gap down would lead into a green day followed by a push into tuesday and possible wednesday which would be the peak for this cycle.
Who knows what will play out but that's what I would love to see. I definitely think with the black friday sales being better than expected the bulls will try to push us higher with some volume.


MARKETJEDI

Next week

Next week we should get some positive spin from the black friday retail sale. I have been reading and it seem that sales where up from last year which is very impressive because personally I thought sales would have been horrible. Monday most traders should be back by mid day and the true direction should show up by mid tuesday.
I am in the neutral camp here short term because most money managers will be rushing in desperately to make up for a horrible year.
I am 100% that 2009 will be a shocking year especially in the first two months which I firmly believe we will test new lows and test my 4000 area on the DOW later down but i digress. Next two weeks if we go higher I am looking for ultimate resistance at 1045 on the S&P and around 10300 on the DOW. I think it will take a miracle to pass those levels in the near future and will give traders an excellent spot to short the market. Early next week I am making a firm trade call before Tuesday which should be a winner, so stay tuned.

Also I am going to give you all a KILLER PLAY for your 401k. I understand many are down and out but tell your family and friends to play this one!!!!!!


MARKETJEDI

TECH Plays

With christmas around the corner, there is no doubt some tech stocks should be in play. Since I can't get a good handle on which one to play I rather play some shorts into resistance. My favorite one would be AAPL. A trade close to or above $115 I would buy the $100 puts on the following month.
I am just putting out some plays so many of you can watch, they are not in play till I give it as a trade call.


MARKETJEDI

TRADE CALL SET UP: SKF

Please note this is a set up and you must follow the play. Most of you know this is one of my favorite ultrashort to play. The troubling news out of the financials have abated for the time being but their will be more. I am going to play this again long if it breaks $110 and as usual I think $90 will be a shut your eye and buy.
I am expecting the DOW to at least test the 9000 level in the next 3 trading days and possibly get a blow off top soon, which should set us up nicely for the cycle lows I am calculating around January. Lets hope I am right because I would love nothing more than to start 09 with a bang.

Watch the US Dollar too as I believe it should also get a blow of top very very soon.

Upside Continues

The upside continues pre thanksgiving attributed to the light volume is my thesis.
I am here to affirm my all for DOW 4500 and even think 3000 is very very possible.
Here is the main problem:The Fed continues printing money wantonly, thus rendering the value of the dollar 50 to 80% less than where it currently is. Bernanke is on record as saying that if he was faced with Deflation, which is where we currently are, he would start printing money. The theory being that printing money would basically "level" the deflation by doing something inflationary (printing money is most certainly inflationary). Germany, and others, have tried this in the past (does anyone remember one definate reason why Nazi Germany was born?) and it's never succeeded. Frankly, I don't think it can succeed, BUT what it can do is give the illusion of wealth. Unfortunately this is why I rage against the machine, because its pretty safe to say that while prices of homes, and even the stock market could "stabilize" its illusionary and in fact the opposite.

Yesterday the FED PRINTED ANOTHER $800 Billion to help the consumer credit market. Where will it end the FED is basically printing money 36 hours a day :). I really think we will get over $20 Trillion when this is all over. Also I think their is a realistic possibility that the US Debt rating get downgraded in the next 3 months which would set up the treasury notes rising in yield thus starting the inflation cycle of the global slowdown.

I have one more thing to say about the appointment of the new treasury secretary by Obama. It is my feeling that because he is already a FED governor(New York branch), he will prove to be just as ineffective as Paulson. Listen up here folks the DOW ended @ 8700 today I think the most they can get out of this market is 10250, so we have 1700 point to go on the upside. Watch next week for 910 area with the possible cycle high coming in around 1023 area. That's it folks so if you long you better take profits if they big guys come in next week and think we should go higher.


Have a Great Thanksgiving

Up Up Up

Seem like we MIGHT just get some relief from the selling. I think they cycle should end in January for a low so it would make a great play if we go up into the end of year.
I am goign to run some numbers later and post-

GAP up Play

For you futures guys- I will be shorting 882.50 on this gap up if we hit that in the first 20 minutes. Make that 882.50/ 884 area to give it some room. 878 might provide some initial resistance too

Tuesday

S&P resistance is 871 but we looking like we will open right there. Next significant resistance is 905/906. So that's at least 30 points higher. Seem like they want us higher into the holidays. If they close us green today this will be the first 3 day rally in awhile. I think we were oversold and this is just a ABC corrective more.
Watch 905 as next significant line

This week-

This week I think we try to test 837 on the S&P early. There should be alot of talk about Obama's finance team and this might settle the market into the Thanksgiving holidays. 837 is very important to watch as a close above this would mean we have more upside in the cards. You never know with this crazy market but I am totally neutral as I said last week and I rather just play the futures intraday till be have some trend in either direction.
Saturday I was on the road and I saw gas selling for $1.84 a gallon, seem too good to be true but it was, it has me thinking that this might be some bottom here for Oil. I would be very surprised if we see gas prices lower but who knows. Just saying dont be surprised if this is close to the bottom in Oil.


Enjoy the rest of the weekend.


MARKETJEDI

This market is on life support. The lies being thrown at the American public are unfolding and the more they are, the lower this market has to go. Thursday after the close Citibank (C) said that they are looking to sell themselves, or break themselves up and sell pieces. Do you know the last few companies that said the same thing before they went to ZERO (or close to it)? WB, WM, BSC, LEH, AIG. C sees under $1, I've said it for a very long time. Unfortunately I'm right. Right before C are, I believe, BAC, MER, MS, and my favorite GS, which is still absurdly overvalued. When GS is under $10, which I believe it will be, you can thank me. Those are a few, there are a TON more. Pundits continue to send their clients to market HELL with reckless abandon. The denial is thick, and it's only unfortunately going to get worse. Nothing goes in a straight line, but I am now officially moving my DOW target to a MINIMUM of 3500. I am quite sure we see my initial 4800 target, but I think we see a lot lower. We are in very serious trouble, folks and the more denial that runs rampant, the worse it'll be in the end. We will bounce shortly, but its unlikely to last very long. This market is in a hospice, it'll pop up and look like its doing better once in a while, only to then fall even lower. I'm sorry, I really am, but anyone who owns a SINGLE SHARE of stock is a SUCKER in my opinion. I think there's a good chance that we start to see some states go bankrupt, and for the US to be downgraded ratings wise. If China decides they need to stop buying our paper it's going to get a lot uglier. If they decide to call the debt, forget it, its over, the fat lady has sung and stick a fork in the US stock market for good. People ask, "but aren't the companies worth something?" The simple answer is - YES, and many are worth a LOT, there may even start to be some "values" simply because they are trading below their cash levels and making money (at least for now). BUT, there are so many companies that are debt laden and that is the biggest issue. For example, many of the energy names have huge debt obligations. When they can't meet them they have to try to borrow more money at a higher rate. If no one will lend them at a higher rate even they have to go bankrupt. Look at stocks like CHK, they carry huge debt loads in a declining market, the stock will probably go under or sink below $10 more than likely. Just because its "cheap" doesn't mean it's buyable.
Let me explain why what is happening wont work and the reason Paulson is clueless. We the tax payers loaned Citibank $25 Billion and we were told the tax payers would make money in the end on these deals. Well as of yesterday's close Citibank has market cap of $20 Billion, so how in hell are we goign to get back our $25 Billion when the company is not even worth that. Come on here folks we are being manipulated again and again by Washington and the elites but I am not falling for it.
Some of you owe me some christmas presents. You know who you are writing me and saying some of the plays are up 400% in a couple of days, well that what we should be doing and not listening to the talking heads.

Option plays this month on the blog have been on fire. Goldman puts were up over 200%, GOOGLE puts over 150%, SKF geez what can I say (recommended @$60 now $300)and next month we will rack them up even more. Ask the talking head how much they are making for their clients. ZERO they are losing because they dont have a clue.

MARKETJEDI

MORE NEW LOWS

Tired of the same old story but market is doing exactly what I said, NEW LOWS. We just cracked the 2002 lows like it was nothing. Good chance my projections for those lower numbers are accurate so stay tuned.
Oil went below my $52 like a champ and looks weak. No saving the markets here folks I hope you all playing the options and ultrashort shares. GS Options was taken off this morning +150% profit.

ONLY WINNERS HERE.

MARKETJEDI

TRADE CALL UPDATE: GS PUTS (GS XN)

Out here $22.00. purchased @8.50

ONLY UP 160% SWEET

ONLY WINNERS HERE!!!!!!!!!!!!


Will update later

TRADE CALL UPDATE: GS PUTS (GS XN)

These are trading at a double here but I am riding them. You can take the 100% on them here but I am riding them personally.


ONLY WINNERS HERE !!

CITIBANK

CITIBANK DIE- below my $7.50 target. PLEASE GOTO $5 citibank and let me looks like a genius.



MARKETJEDI.


$50 NEXT STOP for GS

SKF, C, GS

Anyone see how these are performing- EXACTLY to the target I said months ago. SKF was called here on the blog to $200 when it was $90, now it is $200 BINGO. Citibank called to $7.50, we are just there and GS called to $75 when it was $200, now it is $60

Wednesday morning

Just getting back here folks- We are currently gapping down but it doesn't look too bad. Let's see if the bulls can rack up another up day.

BACK!

I am back and ready to rumble. It is so great to get away some times and just enjoy nature. The carolina mountain are beauty and I hope to have many more visits.
Anyways, I think we will get one more push down and have a bounce, maybe a holiday rally. I think today they had a chance to break them and they didn't so I am shifting my stance here from bearish to neutral just to see what shakes out.
I will update tomorrow but if we gap up watch for 873 resistance and 854 as some support. If we do sell off I will be looking at 813 area to BUY

Weak bulls

Still on a mini vacation but just thought I would write a few lines. They tried to rally us today and no dice, the sold us hard again in the last hour and we more and more looking like we will crack those lows everyone talks about being a bottom.
GS puts are printing money here. All the financials are DEAD. Citibank is about $1.40 away from my ultimate target of $7.50. YES I had citibank on my death list before anyone else :) and yes it is dead bank sorry but same as I said about Fannie Mae just DEAD. Now lets see if we can get a turn around tuesday or wedneday although I dont think it will be anything to talk about.



MARKETJEDI

$700 Billion = 2 Trillion

The bailout will cost tax payers about $2 Trillion when it is all over. I believe people are not analyzing the real problem at hand and most importantly we have two morons over Treasury who flat out are saying they have no idea what to do. I have a great idea and I have been saying it for the longest while, you have to force the banks to lend money period.
You can't give them access to the funds and EXPECT them to do what you want! you have to make them. Now how can they do that? I think we should just really NATIONALIZE the whole financial system, YES I said it, and those who dont believe that's what is happening, what the heck do you believe is the need for our tax money to help the private sector. THAT NATIONALIZATION!!!. People are just afraid to use the word because they have been so programmed to think it mean socialism which is crap. IF they dont want to hear that give us back our $700 Billion BACK NOW!, At least in socialism we would all supposedly benefit than just the rich executives who are taking our money and giving us the bill for their mismanagement. I mean we are seeing CAPITALISM die here in front of our eyes and it is a disgrace TOTAL disgrace. President Bush, Thursday in front of the G20 leaders practically said sorry to the rest of the World for the short fall of Capitalism. That's just crazy, Capitalism is not about everyone being prosperous, it is about the strongest surviving, so if your firm is a dud (GM, Ford, Banks), then you SHOULD go belly up. THAT'S CAPITALISM!, fair rules and competition with NO GOVERNMENT intervention BUT oversight. What went wrong is that there was no oversight and we often confuse the two. Oversight is NOT intervention, having rules doesn't mean socialism, what the heck is really going on here?? People are so frigging stupid it is unbelievable!!!
So now we the tax payers are owners of banks and automakers and we can't get a loan from the banks we own to buy the cars from the companies we own, does anyone see the real picture or are they looking at a polaroid which has faded.
DO you know the FED funds rate is now 1% and mortgage rates are still in the 6-8% range. So for those who don't know, the banks are getting the money for 1% and lending it to you to buy a house for 8%, that's unreal. So they are making 7% from you the tax payer and they can't run a business model to be profitable but we should pay for their losses. Hmmm drop my mortgage to 2.5% and maybe I will consider it but no way when you are raping me 7% on my mortgage spread and 20% on my credit cards and then you want to take home millions in bonus for ZERO profits. These guys should be LOCKED UP end of story but i digress again.
I got two emails from readers thanking me for the blog readings: one I know personally and the other is just a reader in this wonderful cyberspace. They both surprisingly said the same thing, their portfolios were up huge on my trade calls while the market was in the worst bear market for this generation. THAT'S what I am trying to do , help people see the LIGHT. Now if I am lighting the way and you want to go into the darkness that's OK, everyone has a choice, but I would surely like to walk in light than a dark road any given day.
I think we get a next new level low sometime after the new year, I strongly believe this and it will be a painful one. Citibank announced another 10000 job lost this week, QVC, Kraft foods and other also added to the layoff list this week. Very good chance when these job woes get worst and we dont have a great holiday retail season the DOW will start trading in that 6500-7200 range. My ultimate target for the DOW is 4800 and I stick by it. I hope we get a santa claus rally to short the heck out of it again but we will see.

I will be out till wednesday but will try to still update.


MARKETJEDI

Friday pre market

We are gapping down right before the open BUT I do expect at least a test of yesterday highs @913.

Friday 14

Levels to watch on the S&P
UPSIDE -911, 924.5 then 935
Downside -881,866,852 then 836.50

Monster RALLY

Monster rally off the retest of the lows. Program trading kicked in after lunch and BOOM.
Technically this is a reversal and we could see this reversal hold up a few days and possibly week. Nice taking profit on GOOG we will hold the DEC $70 puts on GS.

Tomorrow I dont expect much after an 800+ point swing

TRADE CALL UPDATE:

Out all GOOG PUTS + $17. Over 90%



ONLY WINNERS

NEW LOWS

BINGO we at new lows for the S&P. Sorry to say I told you so

TRADE CALL UPDATE: GS $80 PUTS (GS WP)

Selling here @$17, more than a double.


NICE - ONLY WINNERS HERE

TRADE CALL: GOOG DEC PUTS

Take 1/2 off here @$31.00, purchase was $19.50 for me

We are TOAST!

Ok folks some of you have been reading my blog and can vouch it is 100% predictable than the idiots who come on TV. I am tired of beating the dead house telling people the market is broken but hey I can't force the horse to drink the water. I really truly am predicting the DOW to see 5000 in the near future so don't listen to the idiots who tell you we going to new highs.

Here is the inherent problem with the notion that this is the same as other bear markets. Bear markets are usually based on a few factors, one of which is valuation. That, in my opinion, is the least of the issues. Others include valuation based things like "bubbles". More importantly, though, is the economy, which includes unemployment, manufacturing, sales, etc. Even more importantly is consumer confidence and investor confidence. ALL these factors point to MUCH lower prices. BUT, none of them is the most important in this instance. In this instance you have what happened in 1929, a confluence of events and factors that has created what I've dubbed the PERFECT STORM of investor disaster, or the real Y2K, but of the stock market. Today we heard from Hank Paulson who I have no respect for, said what I have been saying for the longest while that $700 Billion is not enough to fix this problem because they dont know how to fix it PERIOD. They force fed everyone, including congress and the senate and investors and "main street" the notion that the government was going to buy all these toxic assets, create a market for them and the government would then be able to make money on these "assets". This NONSENSE has been repeated AGAIN AND AGAIN AND AGAIN all over the financial media, as though it was true. Fund manager after fund manager has trekked onto CNBC and other places and told YOU that this is a good time to buy. This market will NOT be higher in 10 years, you can all write it down and call me in 10 years. I remember when I called NASDAQ @4800 the top people called me a FOOL, now it is 1499 and heading to 800.
Back to the rational of this bailout, how can you guarantee profits? The same dumb thing that caused people to buy houses to invest because everyone in the real estate business said buy real estate you can't lose! REALLY? Listen up folks their is a major conflict of interest and it doesn't work out for the people at the bottom of the ladder. The notion that you should buy now and hold for 10 years and that historically that has paid off is another LIE that is perpetrated by the media, and by fund managers alike.

Paulson's speech today is so bad that anyone buying bank stocks now is crazy. I believe the following banks will be in deep trouble soon Citibank (which I called to single digits, when it was $35, now @ $9), Wachovia, looks like it will be @$1 ultimately, Bank of America will be single digits soon and the credit card banks as Capital One and American Express are going to see much lower prices. The GS puts you should all be in from monday are up 90% just amazing and I think Goldman goes much much lower ($30 area). Folks I was listening to Rush Limbaugh today and what an idiot he is! talking about the market is down on Obama. Obama is not in power, maybe he didn't read that 1.25 millions jobs have been lost since January, Best Buy this morning said this is the worst retail environment they have ever seen, Intel after the close said things are horrible and Goldman is saying 10% unemployment is very likely. I mean don't listen to these morons, they will make you lose it all PERIOD.
Do you realize how many of these guys called the bottom of the financials in July, saying to buy Citibank, wachovia etc. I said buy SKF and we all know how that is doing! SKF will go over my $200 in the long run for sure and those who listen when I said buy on any dip below $90 were handsomely rewarded.


$700 Billion wont save us because Citibank has $300 Billion in toxic assets, MER has $260 Billion and the many others, so do the MATH. There should be an immediate investigation into our money folks. The bill of goods the American people were sold is shameful. Do Paulson and Bernanke claim they didn't know these assets were worthless when they said that taxpayers should be on the hook for $700 BIL that I said from day 1 was throwing our money away?
Someone else needs to be in charge here, Paulson and Bernanke are clueless. Its going to get worse. The GM bailout again will be sold as an INVESTMENT, and sold that GM is too big to fail. This is another TOTAL LIE! GM has to be allowed to go into bankruptcy and to reorganize, otherwise its a 100% guarantee that they will keep coming back for more and more money. It's theft, folks, plain and simple. $700 BIL that WE will be on the hook for, just like AIG who has now borrowed $150 Billion up from the original $85 Billion.

Listen, I am just a person who cares about people who work hard to put their money in the market. I am tired to see people pay others to lose their money based on lies. It takes alot of my time to put plays on the Blog and trade but I think all of us need to help each other in the World. The path these financial institutions are putting us on is the mark of a deep depression. I hope I am wrong but I have been right 99% of the time. Notice the magic number 1000 on the S&P I spoke about last week, we hit is one time and that was it, the beauty of technical analysis.


TRADE CALLS up huge here GS puts +90% in 2 days and GOOGLE puts up over 50%, I think GOOG puts will be a double.


MARKETJEDI

Rocking here

Blog is rocking here. Citibank is going to open at new lows this morning and GS is opening at multi year lows too. Those GS puts are going to rack up huge if they play out as I expect ( ALREADY +50% IN A DAY). Market is just broken especially the banking sector, also news this morning of Toll Brothers saying no estimates of 2009 revenues or profits as it is so uncertain.
Got to ride the path of least resistance and it is down.



See you lower market.


MARKETJEDI

TRADE CALL: GS

Hope you guys got those puts- they are ROCKING here - unbelievable!!!


Ride them here we going to rock up on those

Hoping for rally? I dont think so

Certainly a herculean challenge for our new administration. Frankly I don't think a quick fix exists just as there is no quick fix for certain diseases. You incubate and wait, as only time itself will heal the wound or illness.

On Friday, Goldman called for the biggest rise in joblessness since WW ll. Here is a blip from their piece:

The unemployment rate is expected to rise to 8.5% by the end of next year and inch even higher in early 2010, economists for Goldman Sachs wrote Friday. The cumulative trough-to-peak increase of more than 4 percentage points in the jobless rate would be the most since World War II, they said. Goldman analysts lowered growth forecasts for the next three quarters, and said they now expect the Federal Reserve to cut its interest rate target to 0.50% by December. "The main reason for these changes is the accumulation of evidence that U.S. domestic demand and production are dropping sharply," they wrote. "We do not see a resumption of anything close to trend growth before 2010."

And retail should see more pressure. Analysts are looking for a fourth consecutive monthly drop. The last time that happened was 1974. Here is what CIBC is saying:

"October will prove to be a disaster for retail sales, with only the discounters having anything to cheer about," wrote Avery Shenfeld, an economist for CIBC World Markets. "Note that the ex-autos number will partly reflect the drop in nominal gas-station sales on falling pump prices, and will therefore exaggerate the decline in real terms."

Credit Suisse is saying this:

"The forces of tighter credit, a slackening labor market, falling household wealth and the deluge of negative news headlines are intersecting to create one of the worst backdrops for consumer demand," according to a Credit Suisse note. "As a consequence, vehicle sales collapsed in October and chain-store reports were softer than already scaled-back expectations."

I THINK ALL RALLIES SHOULD BE SHORTED HERE. I posted a new trade call on the blog so take a look. Also as of yesterday 19 banks have failed since the start of the year.

For all those people who are listening to their advisers (people who take a self test exams in 4 weeks and want to advise people on their hard work monies) be my guest. These are the same people will told people to stay with GM when it was $100, same that said stay with microsost@ $60 or stay with Enron. Time to wise up and take your finances in your own hands.
While doing my PHD one of my professors told me that the financial markets is a big scam for the smart people to take from the less knowledgeable among us, I wonder if we should call the markets some redistribution of wealth :) I think so! Just dont be on the wrong side.

MARKETJEDI

TRADE CALL: GS

YES - A trade call on SUNDAY!! How crazy am I. This is not for the weak or inexperienced traders but experience traders among us.
I am going to play this one very very unusual but here it the play.

BUY $80 Puts for NOV. (GS WP) at open $8.30 area
BUY $70 Puts for DEC (GS XN) at open $9.00 area


Yep I have a gut felling about this one like I had about Fannie Mae and Wachovia. Let's see how this one turns out.



MARKETJEDI

NEXT WEEK

Ok This week was like watching paint dry but obviously by the data coming in the economy is in serious trouble. Today two FED governors officially called the current climate as recessionary which they have been trying not to say. The fact are we have lost 1.2 million jobs this year so far and companies are posting dismal results.
AIG which we bailed out with tax payers money is now asking for more. The big three automakers are saying they need $50 Billion out of the $700 Billion in the next 120 days or they will be under. The banks are just buying time before the next earnings season which looks like it will be worst than ever.
The economy is toasted here as it has been raped by the abusers who leave us holding the bag and want us to pay for their mismanagement. How ironic is this, that capitalism is begging for socialization, hollywood could not have made a better flick :)

Next week we are going to test S&P 885 for sure, which is 55-60 point below. Over the weekend I will send out the exact points to watch but here is a list of stuff to trade if we cycle lower next week, which I think we will:

GOOG short:
TM short:
GS short look like it will hit my $75 again and heading to $50:
Citibank heading towards my $7 price very very soon.
FSLR looks like it want lower.

I will update over the weekend for sure with some option plays.

Job numbers out

Worst than expected 250k losses. the rate is up to 6.5% the biggest rate in 15 years.

Job Numbers

Job numbers will be out in 45 minutes. It looks like it is going to be a bad one but the futures are up. Currently we are alittle oversold from the last two days of selling, so we might shake off the bad news later and grind up but I am not putting much faith in this crazy market.

Anyone wants a Job???

The market rose last week and Monday/Tuesday on Fantasy Thinking. Which, in layman's terms is HOPE. The fantasy that the Fed's moves are loosening the credit markets, freeing up captial for lending to stimulate the economy. The fantasy that a new President, will be able to solve what until now is unsolvable. The fantasy that valuations are so compelling that even though the whole world is in the crapper, you should be buying because the market is "cheap", and the fantasy that the market is forward thinking, and therefore the economy will turn around eventually and so you should be buying now for the time when the turn happens.

The Madness is believing any or all of the above and acting on it. The Madness is the government continually finding reasons to bail out companies that are antiquated because "it's too big to fail". The Madness is listening to these "reports" that suddenly get released right before GM's earnings that say that if ONE of the big three car makers fails that it will basically ruin the economy to the point of no return, and cost $100 BILLION. The Madness is that I haven't heard anyone say who sponsored this "report" and I'm thinking there is a conflict of interest in there somewhere. The Madness is that we're bailing out homeowners that can't afford the standard of living they have. The Madness is that despite every evidence to the contrary, analysts, fund managers and investors refuse to accept the fact that the market is not just a little overpriced, that it is VASTLY overpriced, even at 8600, even at 7500 and even probably at 5000.

I am VERY empathetic to those amongst us that are struggling because I am in the same boat too. Most of us are struggling on some or many levels, there is a dark cloud hanging over a lot of things right now. I know that it is very un-PC to suggest that GM and FORD be allowed to fail and go bankrupt. There is, however, a very distinct conflict of interest when the government is deciding who gets taken care of, and who doesn't. I am going to start a company and employ thousands next week and ask for a bailout, so send your resumes to me!!!!Why should the people here have to go on unemployment while the government is going to bail out companies that can not possibly succeed. So, all they are doing is protecting the pension plans, and jobs that aren't necessary. It would be, in my opinion, much better for the government to extend unemployment benefits and in fact RAISE them dramatically so that there is a cost savings, rather than keeping companies going that will just bleed the taxpayers of everything they have, and thus extend this misery? Can you believe GM is losing 1 BILLION A MONTH! and they want the tax payers to pay for that!!!!. Just remember that when Enron went under, and LEH and others those people weren't remotely taken care of, they were let go and they let them lose everything in many cases. It's a problem when the government is just taking over everything on a whim, which is what's been happening clearly. Which is obviously SOCIALIZING the economy.

The sadness is the madness, and is the fantasy, because in my opinion most of what's being done will come back to haunt us, and it won't work - NONE OF IT. Yes, I am the grim reaper. Until the markets, companies, and people are allowed to succeed and fail organically again there will be no "bottom" in anything. It's frustrating. Look at everything they have thrown at the economy and at the markets and what good has it done? We are right off our multi-year lows and we show no sign of forming any kind of lasting bottom anywhere in sight. There is no rationale for anything being done, there hasn't been throughout this. That's part of why it's gotten worse, not better. The system is broken, and it needs to fail so that it can be reborn as something better and stronger. Nice rally last week, all those fools that rushed in to buy Monday and Tuesday this week are already SHOT. There needs to be a "time out" and a plan, but that's fantasy, madness and sadness on my part since it's just not happening and not likely to do so. Let's see what they do with GM. They can't possibly be ridiculous enough to give a $25 BIL loan to a company that is never going to recover. NEVER. You can point to history all you want, but as long as they have all those pensions on their books its just impossible for them to make enough to cover their nuts. Very sad.

I use to say people 401k's will be 201k as a joke but I think it will be 01k's soon. The markets are going to test those lows very soon and tomorrow job numbers might be the worst in over a decade so don't be surprised as it hasn't included the announced layoffs this week at Wells Fargo, Dell, Google, HP, Goldman Sachs (cutting 40%) and many more.

NICE

Nice call on GOOG and GS. Both look like they want much lower prices. Have those GOOG puts and SKF longs to ride out this decline. As I said last week, very strong trend of selling the election results.

What now

Now that the election is over I can say alittle something to the readers of my blog. I am 1000% an independent and the reason being is this. There is no possible way for a logical person to be totally liberal in everything in their life or to be 100% conservative in their lives, just completely ridiculous.
I have to say I was completely impressed by the classiness of both candidates post- election speeches. I also have to say and anyone can correct me, personally I have never seen this type of enthusiasm for a candidate in any country's election in my lifetime. Whether or not the substance ends up being there I think it fair to give someone who, at least on the surface, carries a message that in my opinion has been sorely lacking in this country for a very very long time. We tend to be hero worshippers, I think, in this country. We put celebrities, politicians, CEO's of big companies and others at times on pedal stools. We being a great big grandiose statement and a gross generalization. Yet, I've found it to be true. Many of us tend to compare our insides to others outsides and when you do that you always end up as a loser. Everyone has their own issues, imperfections and challenges, it's all relative.
The knock on O'Bama is and remains to his detractors that he is all style and no substance. Even I have said that, at times. And, that may yet turn out to be true, but this country is in dire need of HOPE and a change. One thing that I think happened after 9/11, at least in my view, is that fear became something that many 0f us lived with day to day. I certainly felt it at times. Fear does bad things to all animals, not just us humans. We become about survival, it's the old "flight or fright" mode. We start to look at things that are harmless as though they are out to "get us"

America was a country that was idolized and welcomed in most countries. Fear has helped create, in my opinion, a country that is loathed in places where we used to be greeted with open arms. Instead of talking softly and carrying a big stick, we've taken on the role of hitting things over the head before even talking. We rule by fear, instead of respect. Respect is earned through good deeds, honesty and openmindedness, and ethics. It's earned by speaking one's truth, and hearing what others have to say, even if we don't agree with it. The first amendment of this country is very powerful. Look at this blog, I write very inflamatory stuff at times. Without the first amendment I'd be arrested, or abused in some fashion because of some of the things I've written. People should not be judged by their words, but by their actions. I've heard many politicians talk about being centrist. They were going to work with both parties and while they may disagree about many things, they would walk away with respect and a better understanding. Until this financial crisis occurred I have never seen both parties actually work together. Crisis does that at times. So does fear. I guess perhaps that's the flip side of things. Can you imagine what it might be like if that was an everyday, or at least every year occurrence in government? Instead of thinking about the individual, it became about democracy. Instead of being a world leader based on how many weapons we have, we went back to being a world leader based on the merits of our actions as a whole. Maybe that's just plain naive, or perhaps some would view that as "whimpy". I think John McCain's speech was outstanding. I actually thought President Bush's short talk this morning was outstanding, and human.

To me, we're all in this together when it comes down to it. That's the other thing 9/11 teaches. Republican's, Dems, Libertarians, gays, straights, Jews, Christians, Muslims, agnostic's were all killed in that act of terror. Will O'bama be a bust? It's certainly possible, but he already has the respect of other nations. When was the last time other countries people's wore shirts with a US President's face on them? I do not agree with some of the things O'bama has stated he wants to do on his agenda, particularly economically. But, I do have a sense that at least he will TRY to live up to his promises, and in this day and age where politicians make promises that even they know they have no shot of keeping, that is pretty refreshing. The only thing we really own in this life is our own integrity. O'Bama isn't remotely perfect, and he's certainly got flaws and will be a flawed president because that's the nature of life, and the Presidency. You can't please everyone, but the guy won over 52% of the popular vote.
Perhaps fear itself in this case worked for him, in fact I am sure of it. He almost surely would not have won had the economy not been in such bad shape and were the USA still looked upon with reverence and respect throughout the world. Surely we are not, and we haven't been for a long while. I think we stooped to our enemies level, and in a way, perhaps lost our integrity. Wall Street is not going to be happy with O'Bama, and I'm happy about that, because the vast majority of people in this country have more important things to worry about then whether or not the Dow is up 500 or down 500 today, tomorrow, or whenever.

So while I am very critical and skeptical of politicians, I think the guy deserves a shot to prove that this country can return to the status I would read and watch about while growing up. If all the history books will have down after his service is that he is the first Black President, then in my eyes he is a failure. I hate to put faith in politicians but I do believe he will have alot more substance than many imagine because of his struggles which many might not understand. We're all in this crazy thing we call life together, and that includes the entire world, not just US. The markets today are back to reality. Folks, we are going to go a lot lower, and you know what? That's ok, and it'll lead to a realistic market eventually.

I hate to rant on about politics because it can be a touchy issue for some but I had to say something because it affects the market today. I think the vast majority of us believe the government has failed the American people and on so many levels what is in place now is just not working. It is, indeed, time for a change. Is this the right change? I guess we'll find out soon enough. I certainly hope so. Whether you voted for the Obama or not, I loved what John McCain said, he is our President. Let's keep an open mind and heart.


MARKETJEDI

1000 Magic Number

So we hit the magic 1000 number on the S&P today and ended 5 points above it. Tomorrow we either gap up huge into some resistance which would be a gift to short or we gap down huge on the possibility of a 2004 replay of the election.
Personally as I said, it doesn't matter to me who wins because the present problems can't be cured in a week and the news today of Google and Dell implementing hiring freezes and cutting work hours is testament of how weak this economy is.
It is going to take a lot of work to turn around this titanic ship economy and I am afraid that we are just at the beginning stages of the decline, so saying that I must reiterate my views of this being a bear market rally and not to be suckered into believe it is more than that. I spoke weeks ago of not being short because we are due for a rally and this is the rally I was speaking of! Now there is a strong feeling we sell the news on an Obama victory and head lower and that we rally hard if McCain wins. I believe either way we will move alittle higher but it will be very short lived, who knows maybe we get a huge gap up tomorrow and that might be all the market wrote.
One thing I know personally, I am glad the elections are over so I dont have to hear crap about taxes and personal sound bites by politicians who feed on the weak minded of us, but that's the world we live in.

I see alot of stuff setting up here so GET READY!!!!!


MARKETJEDI

S&P 1000

Well S&P 100 right here mid day of the election. Market has good upside momentum here and I would not be surprised if we hit that 1053 number I have been talking about. Dow 9600 here is heading into the bottom of the upside range potential.

Nothing much going on and I expect tomorrow and thursday to be true test of the markets. I have a feeling next week we will go down but I am not jumping on that wagon till I see this play out.


MARKETJEDI

Much to do about nothing

Well tomorrow America votes on their new leader for the next four yearS. Personally I dont care who wins as politics in this nation is all about the people who have the money and the lobbyists and not for the regular guy. The feed the little guy crap only when it is election time because the truth is the little guy is the one who vote the politicians in.
Wall street is already factoring an Obama victory and even CNBC which is by far for the Republicans are talking tonight about who Obama will pick as his Secretary of State and Treasury. No matter what, the stock market will have a rough time in the coming years and it is not contributed to whichever party will win tomorrow but contributed to a system of capitalism which is broken because of the abuses from thieves and selfish men.
The market looks higher here! How far it will go is the real question. I think 9800-10300 should be the top on this swing before we head lower. I just can't see how the market will fight the head winds of the recession which might be deep and long.
S&P 1023 and then 1050 are spots I am looking for to begin some shorts positions, which I think might happen this week. If we do get a rally wednesday or thursday it is a good chance we fade it hard so be careful if you are long.
I hope I am wrong and we blast to 13000 on the DOW and we can sucker in some more bulls but I dont see it happening as the fact is still that the market is so overvalued that there is no shot we wont see lower prices.


I will be back on Wednesday as I dont think we will have much action tomorrow.


MARKETJEDI

Monday

Don't expect much to happen today with the election tomorrow. I will update if I do see anything

Weekend Thoughts

Hey folks hope you had a frightening Halloween just like the markets we have been having. As most of you have been reading on the blog I have been saying to lighten up on shorts because I believe we would soon see a bounce. Right now we are in bounce mode from extremely oversold conditions. There is a good shot we see 1060 area on the S&P and 10200 on the DOW, especially as we go into traditionally a bullish period of November and December.
One huge note on this upside move is the VOLUME. Volume has been anemic and must be watched carefully when we get a down day. Friday's action was very bullish as all pullback were bought and we grinded higher all day. Next week should be very bullish, with the only unknown being the election results which in my opinion is pricing in an Obama victory.


Levels to watch on the upside are 1000, 1020, 1052 on the S&P.
9500, 9875, 10200 on the DOW.


Let's see how far they want to push us and I am giving you a freebie here and now. BUY SKF on any trade in the $90's area. Also GOOGLE short on a push to $425 area, even though it looks very weak here even with the market bouncing.


I think this will set up nicely for traders here soon. I hope I am right!!



MARKETJEDI

S&P 1000

1000 level is just 25 points away. I think 1056 area is a great area to short. I am telling you this today that next week they going to ramp us and alot of people are going to go long and get caught in the long run as they will all claim that the bottom is in. I would advise next week to start setting up those ultrashort and short with some puts especially Wednesday.

LOW VOLUME

With the election on Tuesday and end of month here it seems the volume is non existent.
Look for the first 3-4 days of November to be up days as they usually are, but the question after is do they sell the election results.

We Will see in a few days.

Have a great weekend

TRADE CALL COMING

I might have a trade call later today- If it sets up it was be a longer hold

Changing sentiment

Yes folks we seem to be going higher here-Weeks ago I have been talking about a potential rally because of the oversold conditions and we seem to be getting it here. S&P will more than likely test my 1023 number and maybe more but I doubt if it reaches 1100. This is the dream of being trader VOLATILITY. This is goign to set up a very nice trade indeed because the market is definitely going to see lower prices and a move higher is just a set up for the shorts.I would love to see DOW over 10000 level maybe 10300/10500 as this would mark the top in this push up for sure and at those level look to short the APPLE, GOOG and take SKF long for sure.

Tomorrow is the last day of the month and managers will try to mark up stuff so I do expect an up day, so if we gap down I would be buying as they are all trying to change sentiment here.


MARKETJEDI

AAPLE TRADE

Stop is $2

TRADE CALL: APPLE SHORT

Shorting AAPL here @$109.50

Out today

I am out today- Sinuses are giving me some trouble today and just want to rest.
The market looks like it is giving back the big gap up this morning.
I will be back tomorrow

watch AFL.

Upside

I am still looking for more upside here. Targets for the S&P is that magic 1000 but could stretch to the 1023-1052 area. On the DOW looking for heavy resistance into the 9875 number if can boost higher. It is end of month so lets see what the fund managers want to do.


Some stuff are setting up here so stay tuned.

WOW

we lost 350 point in the last 15 minutes. Just horrible

Come on Market

Come on market give me S&P 1000, YOU KNOW YOU HAVE IT!!!
Adding onto yesterday gains and this will be good for the bulls as it would mark the first time is awhile we haven't sold off a huge up day. Momentum is on the bulls side here.
The question is do we hit 1023 on the S&P and 10000 on the DOW.

FED

FED announce in 50 minutes can't wait to see what they do. The point need to be made that the FED is so irrelevant to the market it is almost a joke. We will see in 45 mins

Wednesday

Remember today is FED announcement, usually we die volume wise into that 12:30 time frame till the announcement. I do expect us to get some early upside then who knows :), all depends on what the FED says.

Okie Dokie

Ok we got a nice rally today. A few things to make note of: firstly tomorrow is FED rate announcement and we usually have an upward bias into FED announcements. Secondly, volume was on the light side and as most of you know price needs to be backed by volume. Thirdly, I would love a gap up tomorrow and maybe a push into S&P 1000 as this should provide some resistance. I am still thinking here that we will see 755 on the S&P before the year is up. Fourthly, tomorrow if we are up into that 11:00 time I would not be surprised if we sell off as most traders will sell the news on the FED announcement.
Fifth, we have a few gaps on the charts in the indices above and if they want to push us higher I expect those gap to get filled before the turn us down.

Is this a one day wonder like two week ago? Who knows but this week should be tricky with the election next week and most looking to see how the polls look over the weekend. I don't see us rallying very far and upside will be limited I think to the upside of DOW 10,300 and around S&P 1050 if they really push us. I would love to see 1050 on the S&P as this would provide a nice low risk short after the elections.

Nice move

Nice move here into the close by the market BUT volume is extremely light. Can we say turnaround tuesday again. Tomorrow is the FED annoucement and we should get some movement on that.

TRADE CALL : GOOG PUTS (GGD XT)

Ok RISKY play here but I am playing this 1/2 size and maybe add if better prices hit.

Thinking here is that Google looks weak and should test it lower band once again so I am playing the DEC 08 puts on it.


GGD XT @19.30. It is expensive so play lightly

Low Volume

We are trading on very very low volume here folks. I am not pushing it because of that fact and volume might not return fully till next week after the election. Also some futures firm including mine raised margin requirement which might contribute to the low volume. Lets see how that plays out in the coming days.

Glad I was finished trading in the first hour today. Just not worth it out there right now.

STAY NIMBLE

GS

Poor Goldman Sachs going back to that $75 area. Rumors outs that they were short VW stock which went up huge in the past week.

Tuesday

Well we gapped up over 350 points but we are much lower now. Consumer Confidence number came out and it was the lowest ever recorded. We looking wishy washy here I am basically sitting on my hands right here

Oil

Oil looks like it can test $56 here on the charts.

Thoughts for this week

Well I am going to be watching tonight how Asia and Europe opens but I think we need to get a flush out here period. I don't like to be biased over a weekend but I have a feeling they will try and flush us since it was in the cards on friday but the rescue team came in to save the day. One thing that might trigger the selling is hedge fund redemptions which might be heavy as I have been reading.
Dow I personally think if we get a flush 'SHOULD' see 7380, that's the number I will be watching to poke some longs or if I am short to cover moving down to that number. The fact is the earnings numbers aren't helping and the news of Obama's lead widening don't help the wall street big guys who would more likely sell on a Obama victory.
Let's see how Europe opens and I might be up late to watch the opening to see where our futures are as I might short it overnight if we are up significantly.
Remember this week we have the FED meeting and their is talk of lowered rates but what's the sense it wont help.

Staying light here

I am staying light here because although I believe the market is going much lower medium term I think we will get a huge rally soon. I dont want to be adding fresh shorts here as this kind of move is usually some type of climatic move and if you just putting on fresh shorts you will get killed if we get a massive rally. Stay nimble and stay cash, it is just one day.


Marketjedi

Funny

How is SNDK doing? Said that one would be below $10 hehehe.
How is RIMM doing? my #1 short for the next 12 month a couple months ago is down more than 60%.
How is APPLE doing? My target of $75 coming very very soon.
How is GOOGLE doing? Already touch my $311 target and think in the next 12 months will be $200 if not less.
How is Citibank doing?? Going to my first $10 then $7.50. Ultimately Citibank will be a $3 stock.


BLOG IS JUST ON FIRE!!!!!!!!!!!!!!!

Thoughts

Would love us to get a flush out because this will set up a nice bounce in a few days. This needed to be done weeks ago and as usual THEY try to stop the natural forces of the market.

This could be a historic day and week to come.


MARKETJEDI

FUTURES LOCK LIMIT DOWN

Yep folks it is 7:30 am and the futures are locked limit down. We could be in for a very nasty opening and as I have said many many times before dont listen to these idiots the market is going much lower. The lows of two weeks ago will go at the open if the first remain locked limit down but this could be the day we get a huge flush out to build some kind of base from , we will see soon enough.


MARKETJEDI

TRADE CALL UPDATE- QCOM PUTS (AAO WI)

Out here @$11.60, another double options play.

QCOM looks like it can go much lower but I am taking profits here.


ONLY WINNERS HERE PERIOD

They just dont want us higher

They just dont want us higher. This morning we gapped down then turned around and went positive over 200 points.
It is obvious that the lows set two weeks ago will be tested maybe even early next week. Things just look weak although I still think we will get bounce that lasts more than one day. I dont want to set new shorts here on stocks/options I rather play it in the futures as I think a bounce when it comes might be vicious.
Let's see we end the day, it is currently 1:pm and lunch time is nothing to judge from.

GOOGLE and APPLE could save us this earnings season, maybe Microsoft does.

Bye Bye

BYE BYE Market nice knowing you. WARNED you not to buy the 900 point up day last week as it is a fact that the biggest point gainer days are in BEAR markets. Don't be stubborn and listen to the idiots on TV and at your brokerage firm telling you to dollar cost average and hold for the long run.
It aint going to work!!! it is all wishful thinking. I am up 15% since yesterday while the market is down over 900 points on the DOW. DON'T listen to these scammers they are the same ones who told us to buy stocks while their upper level management was selling with both hands and walking away with huge bonuses.

Time to wise up.

MARKETJEDI

TRADE CALL UPDATE: QCOM PUTS

OK they are bidding $9.10 here but I am holding for a double so I am looking for more

TRADE CALL UPDATE: SWQ MC (SNDK Puts)

Taking them all off here @$5.

That's a 100% gain winner.


SWEET

Dont Kill the MESSENGER.

Don't kill me because I am telling the truth and it is not good. The fact of the story is the economy is walking on one leg, it is NOT MY FAULT.
Wachovia who I have been saying for over a year along with WAMU, Citibank etc are in some serious trouble and honestly run by a bunch of morons. Wachovia just reported a record $23.9 Billion loss the most ever by a lender in the U.S. I said it a couple months ago if Citibank took over Wachovia that stock would be worth $1, nothing more those too banks are so sick and they don't know it because they don't have proper management in place to analyze and implement a vision to adapt to changes in the marketplace.
Right now the market is DEAD. We will be in a trading range till be break significantly lower as the market in my opinion is VASTLY overpriced. I have one suggestion to my readers. Don't buy stocks because the days of buy and hold are OVER. I am not saying we go straight to 5000 on the DOW but long term the market will be much much lower and that's a fact. Only thing you should be buying is ultrashort ETF's and trade positions when we do get bounces.
My Fib's timeline projection is predicting that this Bears market should last to a minimum next year November, so if you are long or own mutual funds based long, you will be in alot of pain for another year.

SNDK PUTS ARE NICE!!!!
QCOM PUTS ARE NICE!!!!!

ONLY WINNERS HERE PERIOD!!


MARKETJEDI.