Will be taking it easy this week as I dont like to trade much when there is little volume. My postings to the blog might be minimal if we have the rest of the week like today. Tomorrow I will try and make my daily in the first hour as it was like watching paint dry today in the markets. Action was poor and the sell off, although no heavy in the last 90 minutes makes me wary of moves here.
We should see some rotation into the weak strong since it is the first of the month, so watch for the retailers and financials to get some buying. I think that the agro stocks might get some selling in the next 2-3 weeks but we will see, I will make an official call if something sets up.
Monday, June 30, 2008
TRADE CALL :SOV out
Covering SOV short here. $4. geez.
Plus $4 on a $11 play is just too awesome.
ONLY WINNERS HERE
Plus $4 on a $11 play is just too awesome.
ONLY WINNERS HERE
TRADE CALL: FNM OUT
FNM finally went to teenager status. Taking off all short here +$11.
ONLY WINNERS HERE.!!!!!!!!!!!!
Think we might get a bounce in the financials
ONLY WINNERS HERE.!!!!!!!!!!!!
Think we might get a bounce in the financials
This week
Well folks what will this week bring. I DON'T KNOW. As of now we are extremely oversold but that doesn't mean we can't continue the selling here. What I saw friday was some strength in the russell and nasdaq which puts me in a neutral stand for today and tomorrow. Now what I would love to see is a early push down and then some buying and MAYBE we can head a bit higher from here. Nope I am not turning bullish, far from it but we are extremely oversold here and the best scenario would be for a bounce then a flush again to lower lows.
Friday, June 27, 2008
TRADE Update:-
WOW we are ROCKIN!!!!!
SKF new HIGHS..
C- now $17
FNM $20. Predicted FNM and C would be teenager stocks. WHAT A CALL.
TWM now up around $10.
IPI still trucking along.
MER death
MS death
GS death.
WB death
BAC death.
All called here!!!!!!!!!
ONLY WINNERS.
I will be making a market call after the holidays that will shock most people. Yes it is that crazy!!!!
SKF new HIGHS..
C- now $17
FNM $20. Predicted FNM and C would be teenager stocks. WHAT A CALL.
TWM now up around $10.
IPI still trucking along.
MER death
MS death
GS death.
WB death
BAC death.
All called here!!!!!!!!!
ONLY WINNERS.
I will be making a market call after the holidays that will shock most people. Yes it is that crazy!!!!
As expected
As expected after a huge move yesterday we are just choppy around. I am waiting for market to tip its hand and where it wants to do.
BLOOD IN THE STREETS
Seem like there was blood in the streets today but we haven't seen nothing yet in my opinion. I believe we will be south of DOW 10000 very very soon. You can't say you haven't been WARN but this market when all is said and done will be much much lower, today''s trading is testament of that. While I do believe we will get a bounce here and there because of the optimistic nature of most it wont last long. I expect any good bounce to climax and head south harder.
Don't throw away you money folks this market is in an prolong downtrend and wont reach new highs andtime soon. You must understand nothing goes in a straight line and we will get bounces but they will all fail miserably. Saying that, I expect some of the large banks to suffer major losses and go under (YES BANKRUPT) when this is all over. The Tech sector where everyone is hiding will crack and high flyers like BIDU and FSLR will see double digits once again.
The deal here is to short the bounces. That's the key period!!!!
On the horizon I will be adding alot of new stuff to the blog but as it is my aim to keep it simple as possible for the average joe, I still want more readers to have more options in trading. Soon to come will be alot more information and strategies on futures trading and how to profit from managed futures, so stay tuned.
Hope you are all profiting from the wonderful calls here because they have been unbelievable. One of our futures account is up 30% since last thursday, yes 30% in a week, just awesome.
MARKETJEDI
Don't throw away you money folks this market is in an prolong downtrend and wont reach new highs andtime soon. You must understand nothing goes in a straight line and we will get bounces but they will all fail miserably. Saying that, I expect some of the large banks to suffer major losses and go under (YES BANKRUPT) when this is all over. The Tech sector where everyone is hiding will crack and high flyers like BIDU and FSLR will see double digits once again.
The deal here is to short the bounces. That's the key period!!!!
On the horizon I will be adding alot of new stuff to the blog but as it is my aim to keep it simple as possible for the average joe, I still want more readers to have more options in trading. Soon to come will be alot more information and strategies on futures trading and how to profit from managed futures, so stay tuned.
Hope you are all profiting from the wonderful calls here because they have been unbelievable. One of our futures account is up 30% since last thursday, yes 30% in a week, just awesome.
MARKETJEDI
Thursday, June 26, 2008
Serious Supports broken
Some serious supports have broken here in the market. Dont be LONG. Nothing if you not a skilled trader.
Serious damage is being done and if the bull give up the battle we can flush down hard.
I am still waiting for a 800-1000 point day down. :)
Serious damage is being done and if the bull give up the battle we can flush down hard.
I am still waiting for a 800-1000 point day down. :)
Trade Update:IPI
Still holding 1/4 shares of IPI with a $60 stop to lock in $10 profit... SWEET!!!!!!
ONLY WINNERS HERE.
ONLY WINNERS HERE.
DOWN we go!!!!!!!
Well heard the warning here first. Now we heading south in a big way. Where in C, where is MER, where is MS, where is SKF, where are the agro stocks, where is FNM.
You been reading this blog you would have 100% winners. No beating around the bush.
ONLY WINNERS HERE.
You been reading this blog you would have 100% winners. No beating around the bush.
ONLY WINNERS HERE.
Market CRUSHED here
We are below the March lows people. Where is Cramer?? Where is the mad money traders??? Where are these people????
A bunch of morons!! This is too easy, really I am not bragging. Economy is going down and they wan tot buy, oh really what would I buy NOTHING. All the overseas investors in Citibank @$26 are dead here. Oh they are the smart money I am just a lonely trader..
GO MARKETJEDI!!!!!!!!!!!!!!
A bunch of morons!! This is too easy, really I am not bragging. Economy is going down and they wan tot buy, oh really what would I buy NOTHING. All the overseas investors in Citibank @$26 are dead here. Oh they are the smart money I am just a lonely trader..
GO MARKETJEDI!!!!!!!!!!!!!!
Goldman downgrade Citibank to SELL
Goldman saying to short or SELL Citibank, wow they are very late to this party. We been short Citibank since $26. Take that Goldman.
MARKETJEDI RULES.
MARKETJEDI RULES.
Wednesday, June 25, 2008
After the FED
FED did what we expected, NOTHING. The FED is in a tight spot, on one side, they are facing an inflationary climate and on the other side the FED is dealing with an ever weakening economy. Where do we go from here? well the day after the FED announcement is usually an up day but that didn't happen on the last FED announcement. What I would personally love to see here is a tradeable bottom of some kind to push us into earnings, if we don't get a tradeable bottom in here in a few days we are doomed to go much lower. My longer term target are still the same DOW 9000, S&P 1050, Russell 450 and I will stick by these target over the next few quarters but these are my ultimate targets for those indices. Speaking of targets I am now increasing my target on Oil based on stuff I am readings and have come up with a conservative target of $225. I think this target will be achieved within 24 months!!!!!!
RIMM reported after the close and wow! it is being cracked. One more evidence NOT to listen to Jim Cramer who has been telling people to buy the stock before earnings. They missed EPS and lowering targets and I think this stock will see south of $100 before September. Alot of people think tech is immune from a weak economy BUT nothing is immune from economic weakness. Do you believe parents will be giving their kids money to buy ipods and imacs when gas is $9 at the pump, heck no, let's be real here people.
In an downturn people will only spend on necessities and even this time people might not never be spending on that as their net worth is vanishing with a lower stock market and falling house prices. One stock I think is a decent play short is WHR (Whirpool). The continued weakness in housing makes this a perfect stock for the shorts. Yes it might be late to the game on this one since it was as high as $90 two months ago but really if it bounces how far can it really go.
Lets see tomorrow what they come out and do here. Next week is July and usually carries a bullish tone into that holiday, so lets see what happens.
Hmm Anyone notice we are now at 11811 on the DOW!!!!!!!!!! We are slowly sinking! Everyone got excited at 13000 in May and I said dont be fooled. Who is the fool now???
MARKETJEDI
RIMM reported after the close and wow! it is being cracked. One more evidence NOT to listen to Jim Cramer who has been telling people to buy the stock before earnings. They missed EPS and lowering targets and I think this stock will see south of $100 before September. Alot of people think tech is immune from a weak economy BUT nothing is immune from economic weakness. Do you believe parents will be giving their kids money to buy ipods and imacs when gas is $9 at the pump, heck no, let's be real here people.
In an downturn people will only spend on necessities and even this time people might not never be spending on that as their net worth is vanishing with a lower stock market and falling house prices. One stock I think is a decent play short is WHR (Whirpool). The continued weakness in housing makes this a perfect stock for the shorts. Yes it might be late to the game on this one since it was as high as $90 two months ago but really if it bounces how far can it really go.
Lets see tomorrow what they come out and do here. Next week is July and usually carries a bullish tone into that holiday, so lets see what happens.
Hmm Anyone notice we are now at 11811 on the DOW!!!!!!!!!! We are slowly sinking! Everyone got excited at 13000 in May and I said dont be fooled. Who is the fool now???
MARKETJEDI
Warren Buffet
OMAHA, Neb. (AP) -- Billionaire Warren Buffett has already said he thinks the U.S. economy is in a recession, and now he says the economy is getting worse.
Everything connected with construction and with consumer, I see weakness, and if anything, it's accentuating a little bit."
Buffett told CNBC in a live interview Wednesday that all the data he sees from Berkshire Hathaway Inc. subsidiaries shows the economy weakening.
Buffett also said he thinks inflation is picking up, especially in steel and oil, so it should be a concern for the Federal Reserve.
But Buffett said he would have been surprised if the Federal Reserve were to announce a rate cut Wednesday afternoon.
The Fed left rates unchanged.
"I think the Fed has to be careful not to do anything that signals that they regard inflation as a secondary goal and something they'll worry about later," he said.
Buffett also said he believes supply and demand, not market speculation, is what's driving oil prices to new heights.
Oil futures fell Wednesday after the Energy Department said the nation's supplies of fuel and oil were larger than expected last week, but prices remain above $130 a barrel.
Buffett said he disagrees with the idea that speculation was driving oil prices higher. At least nine bills proposing limits on that oil speculation have been introduced in Congress in recent weeks.
"In my adult lifetime, up until the last year or two, there's been a huge amount of excess supply available," Buffett said. "We don't have excess capacity in the world anymore, and that's why you're seeing these oil prices."
Buffett said he doesn't think it makes sense to impose a windfall tax on oil companies that have benefited from the high price of oil when other commodity prices have also increased. Steel, corn and soybean prices are all up significantly.
"I don't think any candidate in his right mind -- with the number of electoral votes in farm states -- would say that you ought to tax farmers specially because they're getting a windfall," Buffett said.
When asked about politics, Buffett said he doesn't think Democrat Barack Obama or Republican John McCain will have trouble raising money in the presidential race.
Buffett was backing both Obama and Hillary Rodham Clinton throughout the primaries, but since Clinton dropped out of the race, he has been supporting Obama.
"I think Barack is going to have plenty of money," he said.
Anyone Notice?
Anyone notice what is happening today? The strong sectors are all negative today and the weak sectors are all positive today. Why is this. Well they hope the FED will say something hawkish and this wil be the short term play in terms of bias, if not we go back to the same old bias. Notice how Oil and Gold are weak here!!!
Mid Day action
As expected the action is slow before the FED announcement @2PM.
Agro stocks being sold here for sure.
POT -7.50
MON -7.5
MOS -3.88
IPI -4.77
AGU -2.68
Agro stocks being sold here for sure.
POT -7.50
MON -7.5
MOS -3.88
IPI -4.77
AGU -2.68
MON and the agros stock
MON just reported and the stock is dropping like a rock. Right here might be the catalyst for the pullback in the Ag stocks.
Look for the group to trade lower on this.
POT
AG
AGU
MOS
IPI
LNN
Look for the group to trade lower on this.
POT
AG
AGU
MOS
IPI
LNN
Tuesday, June 24, 2008
Market looks bouncey
Maybe wishful thinking or end of quarter mark up but stuff seem bouncey. If you are short I would be taking profits on short term stuff for a reset.
TRADE CALL :IPI
Taking off 1/2 of the 1/2 share left on IPI on a trade @$75 today..
That's a $25 gain or 50% gain on this 1/4 share.
ONLY WINNERS HERE !!!!!!!!!!
That's a $25 gain or 50% gain on this 1/4 share.
ONLY WINNERS HERE !!!!!!!!!!
What if gas reaches $8 a gal
Well what would we really do if gas reaches $8-10 per gallon. It is a possibility we must think about as gas if now almost $4.50. Last week one long time investor in Oil, said we could reach $500 a barrel in 4-5 years and I am starting to believe that this is definitely an energy crisis happening.
I think Oil could reach $300 a barrel easily, yes easier than it going back to $75. The trend is definitely up and if we closely look at all the bullish factors, they far out number the bearish ones.
On to the market. We are shot here!! People seem to be giving up on the market and facing the reality slowly that the financials are DEAD. LEH looks like it wants to goto $10 in the finality of it all, Citibank has a chance to goto $10 too. I have been singing on Citibank for awhile that it should be a teenager stock from it was $27 and now it is firmly there. Citibank closed at $18.55 yesterday and I think we have just started to see serious selling in this name.
We look like we going to get a nice gap down which is the opposite of what I would ideally want. Therefore I will bracket the first hour to see where we want to go. Hard to say where we go before the FED announcement and I expect today after lunch into tomorrow announcement to be very low volume.
I think Oil could reach $300 a barrel easily, yes easier than it going back to $75. The trend is definitely up and if we closely look at all the bullish factors, they far out number the bearish ones.
On to the market. We are shot here!! People seem to be giving up on the market and facing the reality slowly that the financials are DEAD. LEH looks like it wants to goto $10 in the finality of it all, Citibank has a chance to goto $10 too. I have been singing on Citibank for awhile that it should be a teenager stock from it was $27 and now it is firmly there. Citibank closed at $18.55 yesterday and I think we have just started to see serious selling in this name.
We look like we going to get a nice gap down which is the opposite of what I would ideally want. Therefore I will bracket the first hour to see where we want to go. Hard to say where we go before the FED announcement and I expect today after lunch into tomorrow announcement to be very low volume.
Monday, June 23, 2008
Don't listen to Cramer
http://www.elitetrader.com/vb/showthread.php?threadid=129917
Posted on youtube. The proof is here, he is a total idiot.
Posted on youtube. The proof is here, he is a total idiot.
Financials just no love
Been singing the same tune for months but financials are DEAD money for awhile. They all going much lower. GS couldn't even get a decent bounce off it earnings and that one is going to $145 then $130 before elections for sure, so write it down.
Market seem to be waiting on the FED 2 day meeting starting tomorrow and volume is reflecting it today. We should get a sweet trend day this week to make this week profitable but as of now we are in wait and see mode.
Market seem to be waiting on the FED 2 day meeting starting tomorrow and volume is reflecting it today. We should get a sweet trend day this week to make this week profitable but as of now we are in wait and see mode.
Sunday, June 22, 2008
Stock to watch
Not an official call here but MEE seem to be in a bullish pattern. A break of the recent highs should send this one to $100. I am kind of cautious right here as I want to see what happens the first 2 days of this week trading. I wonder if the bulls are totally gone or they will try again here.
Citibank cutting Jobs
Citibank will be cutting over 10% of its worldwide employees most in the in investment banking group.
One of my favorite shorts this year as you all know. Lets see how it react to this news tomorrow
One of my favorite shorts this year as you all know. Lets see how it react to this news tomorrow
Last week of the quarter
This market is bad very bad.There are only a few small places to have your money. We will see continued high gas prices, food prices, and inflation.
There are a few ways to look at this. You could see it as a bad thing. Or, you could see it as opportunity. You see, in life, trends always go much further and last longer than everyone thinks. Look at housing recently. Way way up, and then way way down. Look at the NASDAQ bubble before that. Look at gold from $250/oz to $1000/oz. Typically, things don't change until thinks peak out, or bottom out. Not in the markets, but with everything. Even social issues. Everything goes to the brink and back again.
Such as it's going to be with government, the education system, everything. Things won't really change, until citizens start taking part in the running of society again. PTA's with re-form. Political rallies will be common place events. Things won't really change until citizens stop living in a fantasy world of entitlement.
Things may get worse before they get better. Dow 10,000? Maybe. More 'socialism for the rich' bailouts? Maybe. Bank Nationalization? Maybe. C'mon don't laugh. It happened in England with Northern Rock, and both the Bank of England and Federal Reserve are private banks owned in part by the Rothschilds, Morgans, Rockefellers, etc.
This is my socio-economic point of view of the world. Until everyone knows what money is, the "business cycle" will continually be up and down and up and down making people rich or poor over and over. Once a gold standard is back, income tax will be gone and so will inflation and the business cycle.
There are a few ways to look at this. You could see it as a bad thing. Or, you could see it as opportunity. You see, in life, trends always go much further and last longer than everyone thinks. Look at housing recently. Way way up, and then way way down. Look at the NASDAQ bubble before that. Look at gold from $250/oz to $1000/oz. Typically, things don't change until thinks peak out, or bottom out. Not in the markets, but with everything. Even social issues. Everything goes to the brink and back again.
Such as it's going to be with government, the education system, everything. Things won't really change, until citizens start taking part in the running of society again. PTA's with re-form. Political rallies will be common place events. Things won't really change until citizens stop living in a fantasy world of entitlement.
Things may get worse before they get better. Dow 10,000? Maybe. More 'socialism for the rich' bailouts? Maybe. Bank Nationalization? Maybe. C'mon don't laugh. It happened in England with Northern Rock, and both the Bank of England and Federal Reserve are private banks owned in part by the Rothschilds, Morgans, Rockefellers, etc.
This is my socio-economic point of view of the world. Until everyone knows what money is, the "business cycle" will continually be up and down and up and down making people rich or poor over and over. Once a gold standard is back, income tax will be gone and so will inflation and the business cycle.
Friday, June 20, 2008
Banks downgraded
Banks eps have just been downgraded by Merrill Lynch. Most noticeable is Bank of America who they added will lower their dividend
Option Expiration Today
Today we should chop around as today is option expiration. I dont expect alot of action today. Citibank news yesterday I think is putting another dagger in the heart of the financials. For the non believers out there some financial institutions especially the regionals will FAIL.
I say Donlad Trump on television yesterday say credit (lending) has totally dried up in the market and this tells me the regional banks that get 80% of their business from real estate will go under. Real estate can't survive without credit period. Real estate is not a cash market so if banks aren't lending this housing market will have a very long depression in my opinion.
Have a great weekend if today is slow..
Talk to you Sunday
MARKETJEDI
I say Donlad Trump on television yesterday say credit (lending) has totally dried up in the market and this tells me the regional banks that get 80% of their business from real estate will go under. Real estate can't survive without credit period. Real estate is not a cash market so if banks aren't lending this housing market will have a very long depression in my opinion.
Have a great weekend if today is slow..
Talk to you Sunday
MARKETJEDI
Thursday, June 19, 2008
Thursday
I am done for the day after the first 45 minutes as I have reached my profit goal for the day. I am going to do some cleaning etc.
If I do see anything interested I will update.
If I do see anything interested I will update.
Wednesday, June 18, 2008
Market
Don't be long here!! you will be catching a falling knife. The fact that Goldman Sachs couldn't give us a bounce and the market dipped below 12000 today make me think more and more people are giving up on the market. People we are not going to 14500 anytime soon. I remember end of last year Cramer screaming on tv that we will be above 15000 on the DOW in a year!!! why dont people all him out on that, just beyond rediculous. Why dont people call cramer's show and say, hey Cramer I bought some long spiders because you said we going to 15000 on the DOW.
We have a chance to see 10000 before 15000 in my opinion but then I dont want to scare people who read my blog :)
I will tell you this why would be market go to new highs when:
1) Trade deficit at record.
2) Dollar at all time lows.
3) Oil at record highs and going higher.
4) Housing at slowest pace in 23 years.
5) Housing prices decline largest in history.
6) Personal debt at highest level in history.
7) Unemployment highest in 7 years
and I can go on. All these factors and people looking for the market to go higher. Come on folks it aint happening. Not a hot in Hell. Don't invest in this market it is a traders market and you will be broker than broke if you listen to the idiots on TV.
We have a chance to see 10000 before 15000 in my opinion but then I dont want to scare people who read my blog :)
I will tell you this why would be market go to new highs when:
1) Trade deficit at record.
2) Dollar at all time lows.
3) Oil at record highs and going higher.
4) Housing at slowest pace in 23 years.
5) Housing prices decline largest in history.
6) Personal debt at highest level in history.
7) Unemployment highest in 7 years
and I can go on. All these factors and people looking for the market to go higher. Come on folks it aint happening. Not a hot in Hell. Don't invest in this market it is a traders market and you will be broker than broke if you listen to the idiots on TV.
OIL test
Oil made it almost to the magic 136.80 number I mentioned yesterday. I think that was a good showing and think the 139/140 test should happen before the weekend.
Dan Niles
For those who dont know Dan Niles, he was one of the few analysts in the Internet days to downgrade tech stocks. He got many death threats and had to hire private security for months. He just came on CNBC saying TECH will have a hard time in the next 12 months. His strong buy is EBAY and says beside from Solars stocks his fund is very defensive. This guy is very smart and one of the 3 analysts I listen to.
Just for disclosure I own 600 Shares of QID for the last month
Just for disclosure I own 600 Shares of QID for the last month
Market struggling
Market is struggling to stay over 12000 level. I thought they would try not to end lower on an option expiration week but I guess the news isn't good enough for the bulls to push us higher
Market
Financial index breaching it March lows. oh oh .
SKF at 132- looking for new highs on that for sure. Pity I came out of all
SKF at 132- looking for new highs on that for sure. Pity I came out of all
OIL
Level to watch here is 136.80 on the upside. A break above that today or tomorrow SHOULD lead us higher
RBS Note
Well for all those who thing I am a perma bear.
RBS just said they think the S&P could drop 300 point before september.!!
Remember my long term target S&P is 1000.
They must be reading my blog :))
RBS just said they think the S&P could drop 300 point before september.!!
Remember my long term target S&P is 1000.
They must be reading my blog :))
Wednesday morning
Seem like another down day before the open. Futures are down around 100 on the DOW and about 11 point lower on the SPY.
Financials again seem to be the loser and news yesterday of Goldman's analysis of more bank having to seek capital isn't helping. Here is a list of banks Goldman noted:
BAC
C
CRBC
CNB
CMA
EWBC
FHN
HBAN
KEY
MI
NCC
BPOP
TSFG.
Financials again seem to be the loser and news yesterday of Goldman's analysis of more bank having to seek capital isn't helping. Here is a list of banks Goldman noted:
BAC
C
CRBC
CNB
CMA
EWBC
FHN
HBAN
KEY
MI
NCC
BPOP
TSFG.
Tuesday, June 17, 2008
GS
GS going for lows of day- wow, earnings didn't help what so ever.
Market is just too weak. I dont think they crack us below that 12000 on the DOW this week but we look pretty weak here
Market is just too weak. I dont think they crack us below that 12000 on the DOW this week but we look pretty weak here
LEH, MER, MS and WM
All very very weak. Notice these stock ran up the last 3 days and was nothing more than set ups to reshort, no Bounce
BANKS
Goldman Sachs out saying Banks especially regional banks will need to raise more capital.
Hmmm I wonder who have been saying that for months???
Hmmm I wonder who have been saying that for months???
POT
$250 should be heavy resistance on this stock .
Also just a note on Oil. I THINK we push towards 140 before the weekend again. JUST an opinion, NOT A PLAY...
Also just a note on Oil. I THINK we push towards 140 before the weekend again. JUST an opinion, NOT A PLAY...
POT
These agro stock are now way parabolic I would not touch them here on the long side. We are closer to the top on these more than anything else.
Dont mean I am ready to short either.
Dont mean I am ready to short either.
FINANCIALS?? That was it??
That's all the bunch the financials have??
GS couldn't even save itself-
I guess we have much lower on that sector!!!
GS couldn't even save itself-
I guess we have much lower on that sector!!!
TRADE CALL :MS CALLS
Gettig out on the gap up - should be around a 30% gain at open, not bad for a 1/2 day hold
ONLY WINNERS HERE!!!!!!!!!!!!!
ONLY WINNERS HERE!!!!!!!!!!!!!
Monday, June 16, 2008
Stuff to look at
FNM my favorite short is getting some buying.- I think again for those who missed it twice before on the short side, it will be setting up to be short again @ the $28 level.
Also Oil is setting up a bull flag on the daily here- I will be betting on this one making new closing highs in the next few days. $147 will be the number to watch on the upside IF we do break to the upside.
Nice trade out of SKF this morning
SWEET
Also Oil is setting up a bull flag on the daily here- I will be betting on this one making new closing highs in the next few days. $147 will be the number to watch on the upside IF we do break to the upside.
Nice trade out of SKF this morning
SWEET
Investment Banks
Investments banks getting the lift I expected this morning-
GS+5
LEH+2.5
Think they can go alittle higher here.
GS reports tomorrow and if they dont say anything bad I can see this one going to 200
GS+5
LEH+2.5
Think they can go alittle higher here.
GS reports tomorrow and if they dont say anything bad I can see this one going to 200
TRADE CALL UPDATE: C, SKF
I am exiting these positions this morning as the investment bank earnings reports starts this morning.
Why mess with the formula?? taking the last of the SKF off here +$30 and covering Citibank +$5.30.
ONLY WINNERS HERE!!!!!!
Why mess with the formula?? taking the last of the SKF off here +$30 and covering Citibank +$5.30.
ONLY WINNERS HERE!!!!!!
Sunday, June 15, 2008
MARKET CALL-
I will make a Market call which someone of you might think I am crazy after reading my blog and seeing how the market has acted in the last few months. This call I believe will be 100% on the money but I will wait till tomorrow to release it, as I am waiting to see the reaction of the investment banks earnings on the market.
STAY TUNED!!
STAY TUNED!!
Friday, June 13, 2008
I was Mentioned on CNBC!!!!!!!
This is no joke- I was just mentioned on CNBC because i responded to their power lunch question of the day. It was read on the air ..
WIPPPEEEE.
Here is the one liner---
WIPPPEEEE.
Here is the one liner---
No surprise!!
Wall Street is still a white man’s world and it reflects the professional environment in
Evert
Bada Bing
Well I did say yesterday I think we will bounce. Financials and agros leading the way higher here.
Thursday, June 12, 2008
I think we will get bounce soon
I think we will get a TRADEABLE bounce here soon. If we do S&P target will be 1385. Why I just think just a tradeable bounce? because I think that's all we will get for now.
I will be closely watching those financials next week to see what they saw about their earnings.
Remember next week is options expiration..
I will be closely watching those financials next week to see what they saw about their earnings.
Remember next week is options expiration..
BEAR Market Trading
For those who dont believe in the bear market scenario we are in, the market is trading as such. Today we saw a huge push up got sold off. In bear market rallies are sold into, classic set up. Also the bear market wont end till the big winners also get sold. So we are no where near a bottom till we see selling in the Ags and Oil stock. Then we will capitulate with a deep flush and then rebuild on a strong base.
Proof Wall Street ANAL-yst are IDIOTS
Some analyst from Morgan Stanley just upgraded the financial sector. Now we get this news out of LEH -- EXCElLENT call NOT!!!!!
Listen to these idiots you lose money - I keep on tell you but hey I guess who am I :)
Listen to these idiots you lose money - I keep on tell you but hey I guess who am I :)
LEH Firing
It is my view that more is about to unfold on this news on the firing of the top 2 at LEH. I would not be surprised if LEH has to go raise more money or the firm ends up illiquid. There is no doubt in my mind LEH might not exist in a few years if not earlier.
Wednesday, June 11, 2008
LEH
Rumors are circulating this evening of LEH deal to be closed tomorrow to sure up capital could be in trouble. If and I say IF this is true I would expect LEH to head much much lower tomorrow.
Again this is the rumor floating around
Again this is the rumor floating around
CHARTS
Sitting here around 5:30pm looking at some charts for tomorrow. A few looks very interesting but I have to say these charts all saying down. I dont even see support on some that will hold in the near term that's pretty dreadful. I hope we do get a swoon of selling before earnings so we can buy into earnings for the bump up but that's just my wishful thinking.
What's next?? Hmmm I dont know have to see what the talking heads and real money do going into next week option expiration.
What's next?? Hmmm I dont know have to see what the talking heads and real money do going into next week option expiration.
SKF!!!!!!!!!!!
HOW we doing up $40 on that sucker right now, in less than a month.
Anyone see LEH and MER than mad money folks said you can buy for a trade. DEAD!!!!!!!!
DEAD. LEH down 15% into the close and oh Citibank $19.11 hehehhehe BYE BYE to you too.
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Anyone see LEH and MER than mad money folks said you can buy for a trade. DEAD!!!!!!!!
DEAD. LEH down 15% into the close and oh Citibank $19.11 hehehhehe BYE BYE to you too.
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
SKF
Our SKF play is up a whopping $38 here and now. You can take profits but I am riding my 1/2 shares to that 134 and new highs area.
ONLY WINNERS!!!!!!!!!!!
ONLY WINNERS!!!!!!!!!!!
How we doing????????????
Market getting crushed here and all our plays are up HUGE!!!!!!!!
ONLY WINNERS HERE !
ONLY WINNERS HERE !
IPI-
IPI the recent ipo should get a lift today with AGU blow out earnings.
Watch that group for upside today although in my mind they are truly stretched
Watch that group for upside today although in my mind they are truly stretched
Why Analyst are really ANAL- yst
Why in my view analyst are ANAL- yst is because because they will always make you lose your ass.
This morning Wachovia and Credit Suisse analyst have just decided to downgrade Lehman. Now if you had listen to Wachovia the last time they upgraded LEH on March 2007 and bought the stock you would be down over 60%. Man oh man if I called a loser for 6% I would be called an idiot but oh well. On the same note LEH has fallen 55% since Credit Suisse last upgrade of the stock.
The crazy thing is LEH still has 7 buy ratings on the street.
LEH might be a teenage stock soon !! who knows ? Only thing I know I would not be owning that stock or any investment bank stock here.
Please note investment banks have earnings out starting next week and we could bounce going into the numbers but I really don't see this group doing well after that..
This morning Wachovia and Credit Suisse analyst have just decided to downgrade Lehman. Now if you had listen to Wachovia the last time they upgraded LEH on March 2007 and bought the stock you would be down over 60%. Man oh man if I called a loser for 6% I would be called an idiot but oh well. On the same note LEH has fallen 55% since Credit Suisse last upgrade of the stock.
The crazy thing is LEH still has 7 buy ratings on the street.
LEH might be a teenage stock soon !! who knows ? Only thing I know I would not be owning that stock or any investment bank stock here.
Please note investment banks have earnings out starting next week and we could bounce going into the numbers but I really don't see this group doing well after that..
Tuesday, June 10, 2008
From my readings
Oil reversed bullishly for stocks as the powers that be seem to be ganging up to help the greenback. This is one scenario that people can really buy into 1000% because it's so politically motivated. We need the dollar to rally and oil and gold to collapse or we might be in a disasterous position. The Group of 7 (kind of like the Chicago 7, but with economics degrees)meets at the end of the week and some believe they will do what they have to do to get some substantial upside momentum in the dollar. Oil and commodities should get crushed and that could set the stage for a rally. This is part of the thinking of many from my readings.
Oil and Gold
Both getting serious selling on talks by Paulson of an aggressive strong dollar push. Commodities have been riding the weak dollar story into their fundamentals.
Expect commodities to fall if the dollar show some strength
Expect commodities to fall if the dollar show some strength
Trade Call :
Trade call will be made today after market open.
Will it be one more winner.
YES!!!!!!!!!!!!!!!
Will it be one more winner.
YES!!!!!!!!!!!!!!!
Open Plays
Open plays are now on the main page of the blog so everyone can follow easier. All trade calls will be added there.
Monday, June 9, 2008
Sweet Sixteen
Get ready for the sweet sixteen party for Citibank.
WELCOME to teenage years CITIBANK....
WELCOME to teenage years CITIBANK....
Hate to say I told you so
Lehman Brothers says it will raise $6 billion through a stock issuance, and expects a second-quarter loss of approximately $2.8 billion due to more pain from the credit crisis.
The nation's fourth-largest investment bank said Monday it expects to post a loss of $5.14 per share for the quarter ended May 31. It made $489 million, or 81 cents per share, in the year-ago period.
Lehman says it will raise capital from both common and preferred stock.
Stock is down 12% pre market and as I have been saying for awhile there is no way these investment bank dont need more capital infusion. You can listen to all the ANALyst (pun on ANAL) all you want, they truly know nothing.
Citibank will be a teenager today for sure and I expect the SKF to go to new highs soon than later. As i predicted before the end of summer, so we will see soon enough.
Sunday, June 8, 2008
Trade Calls: Guidance
Most Trade calls are swing trades to be held for a target. Once target is achieved I am usually out only if I say take 1/2 off and ride the rest.
I am looking at some options plays this week as next week friday is option expiration. Lets see if we can rack up some huge winners this month.
Remember only high probability trades are taken here and that's why the winners here are always huge.
Got some new ones up my sleeve just waiting for the market to say jump on
I am looking at some options plays this week as next week friday is option expiration. Lets see if we can rack up some huge winners this month.
Remember only high probability trades are taken here and that's why the winners here are always huge.
Got some new ones up my sleeve just waiting for the market to say jump on
Trade Call Update: TWM
TWM was called on May 29 @68.87
Target is $75....
This is the second time calling TWM on the blog. Let's see if it is a big winner again
Target is $75....
This is the second time calling TWM on the blog. Let's see if it is a big winner again
CAN IT BE POSSIBLE
Can it be possible to have Oil @$170 and Gold @1200 without having a global slowdown. Well Prices seem to be saying we are possibly going to attack those numbers in the next 18 months. What this will do to the worlds economies I dont know but it can't be good. I am predicting the China growth rate to decline to the 6.5- 7% level after the Olympics.
Saturday, June 7, 2008
Next Week
It will be interested to see what the talking heads will be saying about friday's action. I keep on saying we heading towards the March low's but all we hear from the analyst and investment bankers is that March lows was the buy of the lifetime. OK will I guess i missed it just like I missed buying pets.com or shoe.com back in 1999 because I would be so rich now!! NOT!!
From what I saw on friday LEH looks like it wants to be the next Bears Sterns, they are killing that stock. FNM, Citibank and SKF are the best places I think to play this downturn in the financials. Currently I am up $30 on my 1/2 SKF, yeah baby, that's how we do it.
WFMI I am still short via some 30 puts and I will be rolling them into July's when they expire. I am -.70 on them but I have 2 weeks left and I think we will be $2 lower on that stock by then, so I am not bit worried.
TWM from the Trade call now looks like it is ready to move and I think it does.
I think the agros get hit last and when they do they will be a nice play, just not time yet, so dont rush in on the short side on those. Short the weak sectors, retail and financials and you will be ok.
Have a great weekend
From what I saw on friday LEH looks like it wants to be the next Bears Sterns, they are killing that stock. FNM, Citibank and SKF are the best places I think to play this downturn in the financials. Currently I am up $30 on my 1/2 SKF, yeah baby, that's how we do it.
WFMI I am still short via some 30 puts and I will be rolling them into July's when they expire. I am -.70 on them but I have 2 weeks left and I think we will be $2 lower on that stock by then, so I am not bit worried.
TWM from the Trade call now looks like it is ready to move and I think it does.
I think the agros get hit last and when they do they will be a nice play, just not time yet, so dont rush in on the short side on those. Short the weak sectors, retail and financials and you will be ok.
Have a great weekend
Friday, June 6, 2008
Just got a call
I just got a call from Citibank asking if I could help them with the FORCE and some Jedis in aiding their falling stock price.
My Answer: Nope not till you are a teenager !!!!!!!!!!!!!!!!!!!!!!!!!
HAHAHHAHA
My Answer: Nope not till you are a teenager !!!!!!!!!!!!!!!!!!!!!!!!!
HAHAHHAHA
WEEEEEEEEEEEEE
Weeeeeeeeeee down we go- For all those calling for a bottom in March I tell you this. When we test those lows of MARCH they wont hold we going lower much lower.
Say goodbye to Citibank for me guys and have a great weekend
Say goodbye to Citibank for me guys and have a great weekend
BELIEVE!!!
Right here on Trader's Perspective on May 21 wrote that Oil fib project is 138. We just got it. Bang wow we running on fire here. Next projection fib is $146.50 and that would put $150 in play as noted on the blog May 27.
BLOG ON FIRE PERIOD!!!!!!!!!
ONLY WINNERS HERE PERIOD !!!!!!!!!!!!!
BLOG ON FIRE PERIOD!!!!!!!!!
ONLY WINNERS HERE PERIOD !!!!!!!!!!!!!
Market crushed
Well for all the bulls out there- YOU MUST BE HURTING.
I have some aspirins for you :) or maybe you need some advil :)
financials dead here- anyone see my favorite short Citibank.
Oil at record highs here- Going for that magic 150
I have some aspirins for you :) or maybe you need some advil :)
financials dead here- anyone see my favorite short Citibank.
Oil at record highs here- Going for that magic 150
TRADE UPDATE: SKF
Ok folks out 1/2 SKF here +$26.
YES +$26. Purchased @$92 sweet. Hey baby
How many blogs get +$26 on their plays
ONLY WINNERS HERE PERIOD!!!!!!!!!!!!!!
YES +$26. Purchased @$92 sweet. Hey baby
How many blogs get +$26 on their plays
ONLY WINNERS HERE PERIOD!!!!!!!!!!!!!!
Highest increse in unemployment
Highest increase in unemployment since 1986.!!!!
Where is the goldilocks economy mister Kudlow
Where is the goldilocks economy mister Kudlow
Job numbers :TERRIBLE
Job numbers just out very terrible. unemployment is now 5.5% and we all know they dont count people who aren't actually looking for work so this number can be as high as 9% in reality.
Economy is in the pit no matter what they want to say
Economy is in the pit no matter what they want to say
Thursday, June 5, 2008
Thursday
Two hours into trading we are moving higher here. Financials are gettig a mild uptick and steel stocks are on fire.
Volume is very light and we have been a tight range after the first hour. Market looks like lower highs here but wait for confirmation on going short
Volume is very light and we have been a tight range after the first hour. Market looks like lower highs here but wait for confirmation on going short
Wednesday, June 4, 2008
Wednesday Action
Sorry for not being on top of the blog today but had some personal stuff to do today, like take my cars to the dealer. Wow what a day! I traded futures today and it was my best day in trading S &P futures. The range today was unbelievable and I caught alot of the moves up and down. I got 20 points on the ES which to me was beyond impressive and I wish I could have one day like this every month.
I am looking to trade mostly futures as we head into the summer as it will be harder to trade stocks as volume will dry up as more traders go on summer vacations.
I noticed a few stuff today while running in and out today. One was oil, which seems to be shaking out weak hands and look like it wants lower alot lower. Believe me I will be waiting to catch oil this time on the move lower to higher prices and will update when I believe we are close to a climax selling. On this solar stocks also look lower, FSLR, SPWR, SOLF etc all seem to be heading lower here based on Oil push down.
Secondly Financials again look weak but we might be coming into a range where the selling might abate short term. Why do I say that? GS was very strong and MER upgrades LEH. Remember the brokers will be reporting in 2 weeks I believe, so some shorts might cover before these are announced.
Lets see where we go tomorrow. If we gap up 100% I would be short if we gap down wait for confirmation before you commit anyway.
I am looking to trade mostly futures as we head into the summer as it will be harder to trade stocks as volume will dry up as more traders go on summer vacations.
I noticed a few stuff today while running in and out today. One was oil, which seems to be shaking out weak hands and look like it wants lower alot lower. Believe me I will be waiting to catch oil this time on the move lower to higher prices and will update when I believe we are close to a climax selling. On this solar stocks also look lower, FSLR, SPWR, SOLF etc all seem to be heading lower here based on Oil push down.
Secondly Financials again look weak but we might be coming into a range where the selling might abate short term. Why do I say that? GS was very strong and MER upgrades LEH. Remember the brokers will be reporting in 2 weeks I believe, so some shorts might cover before these are announced.
Lets see where we go tomorrow. If we gap up 100% I would be short if we gap down wait for confirmation before you commit anyway.
Tuesday, June 3, 2008
LEH
Is LEH in trouble????
Who knows but seem like the street thinks so. As usual the investors who own the stock wont know till it is too late.
Who knows but seem like the street thinks so. As usual the investors who own the stock wont know till it is too late.
Market Crushed
Market is crushed here-
everything down. Don't be long- long is wrong as I said yesterday especially.
Citibank is $1 from being a teenager, LEH down almost $5, GOOG down $14.
TOTALLY CRUSHED.
while how we doing, short on C, long on SKF (117 now, bought @92.50 sweet), short SOV, short MER and short WFMI.
No losers here!!!!
ONLY WINNERS period!!!!!!!!!!!!!
everything down. Don't be long- long is wrong as I said yesterday especially.
Citibank is $1 from being a teenager, LEH down almost $5, GOOG down $14.
TOTALLY CRUSHED.
while how we doing, short on C, long on SKF (117 now, bought @92.50 sweet), short SOV, short MER and short WFMI.
No losers here!!!!
ONLY WINNERS period!!!!!!!!!!!!!
Futures Trading
Futures trading taking preference in my account right now- These quick swing can be capitalized on trading only futures
Market slide
Market just got a huge slide in the last 30 minutes on news that Obama mathematically is the winner. MSNBC calling him the winner and with that Obama is leading McCain in the popular census. As we all know Wall Street is Republic.
Tuesday
What a day yesterday! The brokers got killed and now this morning news of Lehman Brothers may need to raise $4billion is another dagger in the heart of the brokers. I think today if we open down and test the lows of yesterday we will more likely get a bounce.
For all those non believers in the bear market, I hope yesterday and last week action provess that we are just rallying in a bear market. Today I would look for the tech to bounce if we bounce, noticeably AAPL and GOOG.
I have an option play I might call as a Trade Call today so stay tuned
For all those non believers in the bear market, I hope yesterday and last week action provess that we are just rallying in a bear market. Today I would look for the tech to bounce if we bounce, noticeably AAPL and GOOG.
I have an option play I might call as a Trade Call today so stay tuned
Monday, June 2, 2008
12454 here
12454 here with 40 minutes to go. If I was a betting man I would bet they push us lower into the close. Well will see soon enough
Financials
Financials just got downgraded by S&P the investment banks in their opinion might have to seek new capital. Hmmm I have been saying that forever, good one S&P..
Citibanks dead, GS dead, LEH dead, MER dead, JPM dead.
The banks were also put on negative watch including Bank of America.
Been saying it stay away from financials!!!!!!
Citibanks dead, GS dead, LEH dead, MER dead, JPM dead.
The banks were also put on negative watch including Bank of America.
Been saying it stay away from financials!!!!!!
Internals
Internals are bad but not terrible but market has no interest to bounce yet. Once again be careful is you are long. Long is wrong today
12500
12500 coming up was the figure mentioned out of the triangle. The bulls must make a stand here before the close and hold that level .
Sunday, June 1, 2008
June Trading
Just to reiterate the first 2-3 days of the trading month is usually upwards biased just as the last few days. Although that is not a very strong trend like the end of month and end of quarter it does play out most of the time.
June I think the market SHOULD pullback in preparation for the next earnings season. This week should be interested as the indexes all basically close friday at their respective resistance points.
The DOW has once again formed a triangle in the charts and I expect a break either way should give us a decent push in which direction it breaks. Numbers to watch on the upside is 12920 and on the downside 12500.
The old adage sell in May and go away might be in play and it must be noted June and July are the two hardest month to trade so I move than likely I might be trading less and using futures more that stocks and options.
Not much else to say more than watch the key sectors like tech and Agros for 10 am plays. I like BIDU short here but I dont need to let you know BIDU is one crazy stock!!!! so I will wait for confirmation before I head in that trade using options!!!!!! not stock on that play.
June I think the market SHOULD pullback in preparation for the next earnings season. This week should be interested as the indexes all basically close friday at their respective resistance points.
The DOW has once again formed a triangle in the charts and I expect a break either way should give us a decent push in which direction it breaks. Numbers to watch on the upside is 12920 and on the downside 12500.
The old adage sell in May and go away might be in play and it must be noted June and July are the two hardest month to trade so I move than likely I might be trading less and using futures more that stocks and options.
Not much else to say more than watch the key sectors like tech and Agros for 10 am plays. I like BIDU short here but I dont need to let you know BIDU is one crazy stock!!!! so I will wait for confirmation before I head in that trade using options!!!!!! not stock on that play.
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