MARKET - GREENSPAN

Greenspan on CNBC being interviewed by Maria. He is basically saying we are DOOMED!!!!!!!!!!!!!!

Tomorrow Thursday

For tomorrow I really expect us to chop around. We have had two trend days up and three in a row will be truly rare on that note if we do gap up it is a short opportunity.
Some stocks to look at :
BIDU- looks like it is losing steam on the upside so watch for shorting opportunity on this one.
AAPL- The same.
POT- I like short if we can move up another $5 or so. I think this see $190 soon.
CSIQ- Watch for upside as FSLR reported stellar earnings.
SOLF- Same Deal.

Oh my number short for the next 18 months was mentioned by CRAMER but as a long. Again I am not short yet but I am looking at the $115 and $110 October puts. We will see where they open it tomorrow as I might play it small on a gap up here.



MARKETJEDI

BULLS!!!!!!!!

We making new highs into the close. 1283 on the S&P, think we will surpass last week 1291.50. Next level to watch is 1325

BULLS at WORK

Folks dont be too biased here as I think we can get lift in certain resistance areas.

Areas to look at are RUSSELL 735
S&P 1325
NASDAQ 2375

Nice move here

Last week we made a move to the 1292 level on the S&P and missed it by 2 ticks i believe. I think we will get there on this push. We will see, I have a time fib before next week wednesday.
Dont be to heavy one side here I think the financials have more upside here.

Up and down

Well what a beauty to take profits off the SPY puts this morning. Great trade because we are higher. I still think as I said over the weekend we can push alittle higher so we will see soon enough.

TRADE CALL UPDATE: Out SPY puts

Out the rest of SPY puts +90% here

Market seems so Heavy

Well folks I hope you guys are playing the trades on the blog because they have been simply awesome. In the last two weeks we have had SPY options up 100%, GOOG puts + 50% in one day, SKF puts + 100% in 3 days, SKF trade+ $15 in 3 days, TWM still a current holding up a gazillion!!! Our WM short is WAY up. Wow just huge winners after winners.
Anyways I THINK the bulls better really show up soon or we are dead, the market after yesterdays action just let me think we are going to look ugly very very soon. The DOW can easily see 8000, Yes 8000 level in a heartbeat and I am warning everyone again, don't get sucked into investing in this market because you will loose.
Yesterday after the close MER announced more potential write-downs and I believe if MER is writing down then Citibank will also. Citibank as most know was and still is my favorite short I called it short at $30 now it is $15 area and still think it will be half that price when all is said and done.
Friday I took the GOOG puts @ $11.2 and they went as high as $19 yesterday. Why did I take GOOG short? I think TECH is the next area to fall and will send the NASDAQ below 1750. RIMM is my number one short for the next year so please take note.

Folks I am here to help you all make money, so let's make it happen!!!!!!!!!!


MARKETJEDI.

TRADE CALL UPDATE: SPY $127 puts

Ok 1/2 off here +100%


so should be holding 1/4 position.


NICE just another 100% play in less than a week



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

TRADE CALL UPDATE: SPY $127 puts

Might be a double if we sell off into close here which it looks like.
Sell 1/2 on a trade to $4.50 they are currently @ $4.35, so $4.5o might be possible before close.


Another nice play.
Another DOUBLE

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

Prediction : FNM

FNM is going to sub $5 folks.

No matter what they can't stop it.

See you at $5 Fannie Mae.




MARKETJEDI

TRADE CALL: GOOG puts

Close them out here PAULSON is talking. selling them here @$17.10.

over 50% for a 1/2 days work.....



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

TRADE CALLL UPDATE: GOOG Puts

Ok the Google puts are getting in gear here- they are up almost 50%. I am HOLDING, it is up to you to manage yours. I think they will be a double.

We will see soon enough



ONLY WINNERS!!!!!!!!!!!!!!!!!!!!!!!!!

TRADE CALL UPDATE: SPY $127 puts

They are up huge now currently @$4 bought @ $2.26..

Lets see if we can get a double on these.


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

TRADE CALL :UPDATE GOOG puts

Goog is down $7.50 but as usual they not giving the puts the move. It doesn't matter anyways because I have a feeling the puts will be a winner anyways.

DIE GOOGLE



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

Early action

Early action looks like we can go higher- I will be leaving in an hour hope to be back before 2:30

This week

Hope you all had a great weekend. Today I will be in and out because I have some personal stuff to do. This week we might get a bounce and I expect us to go into some higher resistance. Watch Russell 740 area and S&P 1305. I am not betting the farm right here but just think we might get a small bounce.
Just be patient here as I think that this bounce will be a super short.

TRADE CALL: Only for the brave please

Just a hunch here GOOGLE $480 PUTS August

GOP TI now trading @ $11.20.

Just a hunch here folks nothing big.


MARKETJEDI.

WACHOVIA

JUST DOWNGRADED TO STRONG SELL

:)
I thought the banks and brokers were screaming buys---NOT NOT NOT

FNM

No saving that piece of crap. Standard and Poors just put them on negative watch. Thanks Secretary Paulson you can't save this one.

TRADE CALL Update: SKF

SKF call are now a double here- taking all off

100% in 3 days

Today Thoughts: Short side Idea

I think we are going to get a nasty nasty sell off. Tech beside from financials will be my number one area of shorting. There are a couple of stuff I believe are VASTLY overpriced and my number one stock is RIMM. RIMM comes to mind after seeing CROX crushed after the close tonight.
Everyone is so in love with their Crackberry but this makes be believe that in the next few quarters RIMM will not be the number one corporate provider of tech to corporate world.
RIMM is my Number ONE short for the next 18 months.



MARKETJEDI RULES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CRUSHED

Crushed here- totally crushed, WHERE are the BULLS??????????????????
man oh man . those SPY puts were the exact right idea. We hit that 1292 level and it was the kiss of death yesterday. Seem like that might be all the bulls have in them.


Breath is horrible here and we looking like a close at low of day is possible.

TRADE CALL:SKF

Anyone who added SKF on the dip in the 115 area noted yesterday sell 1/2 before the close.

nice little trade +$15. sweettt


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

TRADE CALL UPDATE: SPY puts

selling 1/2 here @$1.

44% gainer on that 1/2 in 2 days. Holding 1/2


ONLY WINNERS

TRADE CALL UPDATE: SPY puts

Now trading @ $3. If you like you can take them off her for a 33% gain here. I am holding


33% gain in 2 days on those options


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

supports all being tested

All the below supports are being tested on the S&P. Looking to test the 1258 here 1259.50 now.

volume is light so not a huge dent to the bulls yet

1263 didn't hold

Man said it this morning that today could look ugly and it is. 1263 didn't hold. Look for some support @ 1258. The bears are back baby

TRADE CALL UPDATE: SPY puts

SPY $127 puts now trading @2.75 opened position @$2.26 two days ago. Remeber these move slow but I think they can be a huge winner. Up 25% on them so far.


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

Here we go

1263.75 just hit on the S&P so we got downside target for the day.
Only problem is Getting low extreme tick reading which means we could see alittle more downside..

1275.50

1275.50 didn't hold. Could be a rough day today!!!

Next target on the downside 1263

Late start

Late start for me today folks. Went out with my wife last night:)

WATCH A BREAK OF 1275.50 ON THE S&P.

Biege Book

Biege book will be released @ 2 PM today. Should be whippy on the announcement. Lets see if we get some direction after the announcement

S&P

S&P came within 3 ticks of that 1292 number we have been noting, 1291.25, man the manipulation in this market is amazing. Lets see if thats all the bulls wrote to the upside.

TRADE IDEA: TWM

Lets pass on the TWM till we hit the 1292 level on the S&P. Yesterday's action marked a bullish candle on the charts and thus implies we will push higher here short term.

SKF I will add to my call position if we dip in the mid 110/120 level as I think that's a good play here as they are overbought but no reason why they can't stay overbought for awhile.

Stay flexible here folks trading has been choppy.

TRADE IDEA.: TWM (1/2 LOT)

TWM on a gap down on the stock tomorrow. Worth a 1/2 share lot buy or trade close to $70.



MARKETJEDI

SPY trade

S&P got it mark today and we will see how they move us tomorrow. Option expiration for crude expired today and I suspect alot of the upward movement in the market was contributed to the sell off in Oil.
I think the financials are overbought here and SHOULD get a pullback but as we know things dont follow logics most of the time. $145 should be the target on the SKF if we pullback then we will analyze when we are there again.
I would not be surprised if we push up to the 1290 on the S&P but that will be heavy resistance and I will be looking to short some tech and futures up there.
Market is very hard to trade these last two weeks so don't push it, better to play some options and let them ride at least your risk is defined.

Awesome play this morning cashing in on the the SKF - AWESOME.


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

TRADE CALL: SPY $127 puts

Very small play for me here - Not going wild on this one just a intuition trade, so very small

SPY TW @2.26

TARGET : S&P

Still looking for that 1275 to be tested and on the upper limit 1292. Lets see what they want to do this evening. Market it having a chop fest

SKF Again

Worth a shot again if it trades down to $125

You have to trade

Reason why you have to trade stuff. SKF was up $10 this morning now it is down. That's why you have to take the profits and move on.

Market looks like it want to go a bit higher but resistance is around 1272 on the S&P

SKF options

Out here $20.70.

+5.70 from $15 entry yesterday. Oh about a 40% profit in a day



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

SKF options

Put them out @ $21.50. should be an awesome play for those who played them.

entry was $15 yesterday

TRADE CALL: SKF update

Take +$10 off 1/2 SKF here.


ONLY WINNERS HERE

Wachovia larger loss

Well Wachovia misses and announces dividend cut. Our SKF should be in good standing today.It is just 7 am so I dont have an indication yet on it but we should be up pretty nice on it.
Apple proved that tech will be the next shoe to fall in the market. Guys you can believe me or not but this market is going to be alot lower in coming months and I dont see this market being any higher in 2-3 years. Don't invest or you will be dead.

SKF

We are up $9 here on SKF after hours from our trade call. I will be riding this one tomorrow. First resistance comes in @ $147 so if you like you can take 1/2 profit there +$12 profit.

SKF has always been sweet for us and seem like it will be sweet again


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

APPLE and AMERICAN EXPRESS.

Apple disappoints after the close and tech looks like it is going to be the next shoe to drop. I have been singing on this for awhile but there is no way tech stay strong in a weak economy.
SKF baby call was buy 1/2 share lot today @$135 or play the $135 calls @$15. SKF up $5 after close on American Express disappointment. Good shot here folks if Wachovia say bad news in the morning we will get $148 on those tomorrow and those calls SHOULD be worth around $25. We will see soon enough.



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

Banking stocks

Banking stocks running out of steam here. If the banks can't continue there momentum we should trade down this week. Today breath was positive but volume was horrible which is not a good sign for the bulls.
Lets see how the close us.
I this think we head higher but I am ready to play both sides

SKF OPTION

Just got an email asking if the call options are playable. Yes they are! August $135 could be used for the play

Options are around $14.50-$15

SKF HT

TRADE CALL: SKF (1/2 lot)

Lets try this one again. Has been a huge winner for us multiple time.

1/2 share here will add if it dips to $123 area.


enrty $135 here

Futures guys: Heads up

Looking to short ES futures @ 1272 if we get there in the first hour. stop 1280

This week

I will be starting this week in neutral as many conflicts are showing up in the charts, so I will be waiting for the market it tip its hand. With 10 Dow companies and 150 S&P companies reporting this week, we could be in for a nice volatile week.
Numbers to watch on the upside on the S&P is the important 1292 (38% retracement) and the 1320 level (50% retracement). On the Russell we have 704 and 720 on the upside to watch.
The bulls must make a stand here especially with the news out this morning from Bank of America that showed a number of areas showing strong growth.

Keep an eye on BIDU seems to be in a stealth bear flag.

TRADE SETUP: HOC SHORT

HOC is forming a bear flag here on the daily. I will be looking to short @$28.25 with a $2 stop on the play. If the bear flag kicks in I will be looking for profits in the $24.50 area..


HOC short @ $28.25, $2 stop

Neutral here

Folks I am neutral here on the markets. I see alot of reasons why we can go both ways. Monday after the close APPLE reports and if they dive after earnings expect tech to get continued selling following Google and Microsoft. I think Tech will be the next selling group in the market. Right now my thinking is we will have resistance on the DOW around 11700/11800 area and S&P should find resistance just little higher @ 1275/1290 area, the upper range would make a great poke at the short side with tight stop.
Why am I neutral? The levels noted above: if the bulls take them higher and can confirm volume we will no doubt be in a trend to give one more push higher. I extremely doubt we get to the 12300 area but you never know. Oil also looks like $122 which is the last swing low is a magnet and a breach of that would lead us to the $117 area, which would be worth 3-400 on the DOW in my opinion.
Have a great weekend folks and let me TONS of money next week!!!

I will be giving out 2 stocks next week maybe wednesday or thursday for swing plays so stay tuned.

TRADE IDEA:WM

If you can short WM please do . No OPTIONS on this one just a plain short with a $1.05 stop.

Early plan for next week.

S&P huge number @1275. 'If' which I think we will push into this number Monday or tuesday the bulls have to respond and enforce a rally. I will look to short somewhere between 1276-1279.
I will also be taking 1/2 share of SKF long when we trade into that zone. I am looking for entry around $130 and another 1/2 share if we dip to $123.

TRADE CALL :BID

One for the road over the weekend . BID short here @$26.

Not a big play have a stop loss of $2, so will stop out @$28.

Have a great weekend

GOOGLE

Well looks like the mighty GOOGLE missed earnings along with Microsoft and MER news after close showed we are dead in the middle of a bear market. They last 2 days of movement was just short covering in a bear market, if you bought you will be very sad. I think next week will be a down week and next month August will be bloody.
Write it down now I think we will be close to 10000 on the Dow in the next 4-6 weeks. I think a dip below 10k will put some fear in the streets.
I will be going long SKF next week monday. Today being option expiration we will get some false moves so I dont want to be part of it.
Next week folks short Tech and Financials as they are going south here.



MARKETJEDI

GOOGLE

Well although the market is sowing strength GOOG is down $8. Same thing happened last quarter. I would not be betting one dime on this as I think these stock is very manipulated here.

STAY AWAY till tomorrow

WHO KNOWS GOOGLE MAY ANNOUNCE THEY WILL BUY OUT THE FED :) and SAVE THE ECONOMY !!!!!!!!!!

Nice move up

Nice move up off the open. S&P @1258, Watch that 1275 area if we get there today

Nice move up

Nice move up off the open. S&P @1258, Watch that 1275 area if we get there today

Thanks Guys

Thanks for my readers who made fast money yesterday on the USO puts. They were up 100% in about 30 minutes. I really appreciate the kind words.


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

TRADE CALL UPDATE:TWM

PUTTING STOP @$75 HERE ON THE REMAINING 1/2 SHARES. That should look in +$6 on the second 1/2.


ONLY WINNERS

1275

1275 magic number on the S&P.

Target to the upside is there. I expect us to get there. We are at 1250 before the open but not like I am expecting it to get there today.

1275 should make a nice short opportunity.

Also Dow 11600-11750 is heavy resistance and should be a good area to short.

EBAY

I just wrote on Tuesday that EBAY should see $15. They reported after hours and missed.

Just another Idea: NOT YET PLEASE

I am so waiting for GOOGLE to report tomorrow. I can remember the last earnings report like it was yesterday. A good friend of mine was asking me what I think will happen and I remember saying to him GOOGLE is trading like it is going to dive after earnings and then pop goes the stock $100 points on the upside still leaving the gap there after 3 months. Now we are doing the exact opposite, where GOOGLE looks strong going into earnings as it should logically, no one want to miss the $100 upside again BUT is it setting up to do the opposite? I DON'T KNOW!!!!!!!!!!!!!!!
I will watch the move and see what happens. Personally I would love them to blow out and go higher because I think TECH is about to fall fast on the next impulse to the downside but that's just me wishing :)
I sold some QID which I bought @$39 +$5 last week and would love to sink my teeth in some again..............


MARKETJEDI

TRADE CALL:USO PUTS TODAY

Congrats to those who played.

AWESOME WINNER 100% IN AN HOUR


ONLY WINNERS PERIOD!!!!!!!!!!..

Pass the word around

One Day Rally or NOT.

Well wow the financials did get in gear to the upside today. Don't get fooled here folks this is a classic elastic band move in a bear market. Financials the weakest sector here from the year start has logically got to get at least a snap back and today might have been IT or the start of it. SKF was down a whoppy 21% as the financials rallied and I am looking to get on board just so you know if it touches anywhere in the 130's. With the banks reporting this week and MER on the docks tomorrow we might just be in fairy tale land with these at the moment.
At the close I played some SPY puts and the reason behind this is simple whether it works or not is another question. The last few huge rallies we have totally given it back the following day and in my mind and I think those who are not fooled by the bounces think this will be one more opportunity to sell and not the start of serious buying. GS was up a whopping $15 today and again will face strong resistance in that $185 area once again. I can tell you already LEH and MER looks like some early bear flags and I will be looking to short these again.
The key for tomorrow will be if they can sustain this rally. If we give it up like the past two times then I think we will have a shot @10500 in a rush, if not and we add to the gains we could have a earnings run.

RESISTANCE AND TARGET ON THE UPSIDE S&P IS 1275. 30 Points away

SPY Puts

Bought some $124 puts at the close for .98

Just a hunch.

Too much of a move today. Today was for the bulls whether it is short covering or not I dont know.

MARKETJEDI

S&P

Impressive push to the upside. As I have been saying we are oversold here but this move have about 35-40 more points on the upside till it faces resistance.
I will be looking at that level to get short heavy again.

TRADE IDEA!!!!

Out USO PUTS HERE!!!!!!!!!!!!!

$5.20 whopping 100% in less THAN an HOUR

Trade Idea for the VERY BRAVE

USO 112 July puts @2.40

very very very risky trade.



MARKETJEDI

Wednesday

Well today will be interesting, why? Yesterday we made a nice recovery from the lows but the last hour especially the last 25 minutes the S&P sold off dramatically. Now we have to respect that we are oversold BUT that last hour of weakness makes me think the selling is still in progress.
So what do we look for today. Need to play both sides of the plate. I would look for the stock stock in the last couple of days for longs if we are strong and look for a test of yesterday lows if we look lower. I am looking at the March lows on the Nasdaq to be tested.

One more day till GOOGLE earnings - It will be exciting folks--

STAY TUNED

What a Day

Geez Paulson and bernanke are GIANT IDIOTS. They are going to sink us into the abyss, can you imagine emergency steps to stop short selling the stock of FNM and FRE and possible the Financials, are you kidding me?
Show you the financials are worth nothing and THEY KNOW IT.
They can't stop us from going down the Abyss and the are looking for anything to do, just to say they tried.

Geez this is just CRAZY

Cracked

Market is getting cracked here on news that the FED is downgrading economic outlook

Futures Down Huge

Futures down huge and the US Dollar just hit all time lows against the Euro..

http://www.bloomberg.com/avp/avp.htm?N=av&T=Rogers%20Calls%20Fannie%2C%20Freddie%20Rescue%20Plan%20a%20%60Disaster%27&clipSRC=mms://media2.bloomberg.com/cache/vIQvD7yNni2I.asf

TECH -

Tech is going to be the next shoes to drop in this market. Yes folks TECH stock will dive in this weak economy. Tech should get a flush out here soon and that's why GOOG earnings is so important. I think we will get a few strong short plays if these tech earnings aren't as strong as they were last quarter.

I think EBAY could be on its last as a growth tech company. I believe it has matured and is in the same boat as Microsoft. A stock that is just too mature to move higher and give us no reason to sell but the difference is EBAY is not cash rich like Microsoft. I think a year from now EBAY will be $15 or closer to $10.

Again if GOOG come out strong like last quarter I expect tech to rally So dont be in a hurry yet. Let's wait till thursday for GOOG and IBM to report then we can set up some plays.

GOOG

this week is GOOG earnings. Remember what happened three months ago? it was trading terribly and then gave us a $100 pop after earnings. This is one reason I am not playing stocks in earnings here, got to be careful very careful. Google could go both ways +/- $80 after earnings. Don't gamble trade it after..

Trade Call: HBC

Yes a Trade Call @ 12 midnight. I must be crazy, so is this call :):)

Shorting HBC tomorrow at open. I might even play the options $70 puts here for August. The reason behind this play is as follows. Banks are totally crushed and this one has been getting heavy put option buying at the $70. Who knows worth a shot, not one of my strongest calls but these financials seem to be getting killed all over, this one has been immune so far..

$70 puts close @2.50.

Stay Nimble

Key to the market here is to keep nimble. With alot of earnings slated this week we might see some rebound in some areas. Right now we are short termed oversold and I would not be surprised if we moved down tomorrow and mount a rally. Right now I am looking for at least a test of 1207 on the S&P and this would be a good spot to mount some kind of earnings rally. I do believe lower prices are coming but right now we seem extended and since we are very news sensitive here with the FED, banks and earnings I would stay light.
No need to jump in front of the bus here.

Anyone see where SKF is??????

$100 higher than the last time we bought. Man we sold too soon...

Marketjedi.....

MY bank failure list

I posted 5 banks that I think will be bankrupt. Two are under severe pressure today as rumors are out that depositors are closing accounts at an unusual rate. We will see what happens..

CRISIS

This whole FNM and FRE deal is amazing. What is the government thinking??? I thought America was a free capital market system and we don’t allow the government to affect the wheel of capitalism. This is so contrary to what american politicians talk. They don’t walk their talk, let the banks fail!! let FNM and FRE fail. It has been over 5 year now that accountants have been questioning the value of the derivatives on FNM books, it is not a overnight thing that happened it was in the making a long time but as usual no one does nothing till it is too late.
We might get a bounce here because of the news but we will see that same thing that happened in March with the Bear Sterns bailout and we ended bouncing and selling off again. I think the same will happen here. I think 10500 on the DOW and 1200 on the S&P are magnets right now.
Folks we are just in the beginning of bear market and I think we will ultimately be around 7500 on the DOW and Nasdaq will tag 1250 before the Bear market is over.
Only fools will be here trying to buy and yes call me crazy again but within the next 24 months the banking system will be in alot worst condition than we are now and we will virtually be in a no mans land in the financials. What I think is we will have more IndyMac scenarios and more and more people will cause run on banks and totally crush the banking system. I hope I am wrong but Americans don’t like to face reality and that's the ultimate problem.
I still think Citibank sees below $10 and this FNM bounce is just that a bounce and we will ultimately be sub $5 on that crap soon enough.
This week we have GOOG and IBM earnings so watch to see how the overvalued TECH land does.


Have a great trading week.

MARKETJEDI

Okie Dokie

We just had our first bankruptcy of a slew which will happen in the near future in INdyMac. This is going to be one tough road for the bank and I STILL think a regional bank will fail. I was ask last week who I think will fail and my list are as follows:
No.1 candidate is WM (Washington Mutual)
No.2 SOV (Sovereign Bank)
No.3 DSL (Downey Financial)
No.4 NCC (National City)
No.5 STI (Suntrust)

10000's

Do we see 10000's today??????
Only a few points away

FNM - - SUB $10

FNM is sub $10 pre market.


DANG

WHO RULES!!!

MARKETJEDI

FNM - Update

FNM and Citibank my two favorite shorts might be the worst two performing stock this year when all is said and done.

Cramer said to buy now he is ranting FNM is insolvent.

THE ONLY TRUTH IS HERE.

AWESOME CALLS ONLY WINNERS HERE !!!!!!!!!!!!!!!!!!!!!!!!!!!!!


MARKETJEDI

AAPL

AAPL new I-phone comes out today. Look for a sell the news here on AAPL.
I would not be surprised to see AAPL much lower today into next week.
Target $10 lower $165 level

CRISIS ALL OVER

Folks not only are we having a credit crisis but a energy crisis. I suspect we are just in the beginning of both and we have much more to go. Home loans are at a complete halt, while overnight OIL went over $145. What amazes me about OIL is that @$145 we are war, hurricane and supply obstructive free. WHAT would really happen if one of these happen?? We might be up over $15 in a hurry. I know I was laughed at last year when I said Oil to $100, then I know many believed I was crazy when I said a couple weeks ago Oil to $170 but listen it will come very soon.
Futures are down although we are 3 hours from the open and I think the move on Oil is having the futures sink lower. Lets see how we react to the open. Don't be surprised if OIL touchs $147 today !!!!!!!!!!!!!

Confirmation CITIBANK is in trouble

FRANKFURT, Germany (AP) -- Citigroup will sell its German retail banking operation to France's Credit Mutuel for $7.7 billion in cash.

In a statement released Friday, Citigroup said the deal includes its Duesseldorf-based Citibank Privatkunden AG & Co. KGaA, along with some affiliates. The sale is expected to close in the fourth quarter if approved by regulators.

Citibank Germany earned 365 million euros ($573.3 million) in 2007 and had net assets of 944 million euros ($1.5 billion). Citigroup said the deal would result in a post-tax gain of $4 billion.

Credit Mutuel said the deal "affirms its European development strategy, particularly in retail banking, insurance and international financial services."

The acquisition broadens an expansion in the past decade into Belgium, Luxembourg and Switzerland.

Cooperatively owned, Credit Mutuel is France's second largest retail bank with nearly 15 million customers and more than 5,000 branches, according to the bank's Web site.

In 2007, it earned 2.73 billion euros ($4.3 billion) on sales of 10.6 billion euros ($16.6 billion). It also owns France's CIC corporate and investment bank.

Citibank has reported consecutive quarterly losses from huge missteps in the mortgage market.

Citigroup Inc. has announced 13,200 job cuts since the credit crisis began slamming the banking industry last summer, with $14 billion in value lopped from its investments during the first quarter alone.

"This is another strategic step in our effort to reorganize Citi, strengthen our balance sheet, and put us squarely on the path to future growth driven by our core businesses," Chief Executive Vikram Pandit said in a statement. "In Germany, our talented corporate and investment banking teams remain central to our strategy and we're committed to maintaining their leadership position in this market."

The bank added that it remained "strongly committed to its remaining German businesses, including its full service corporate and investment banking business and its European data center, which is the biggest Citi data center outside the United States."

FNM

FNM is now below my first short target of $15, next target $10.

Called short here over $30.


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

You dont BELIEVE!!!

For those again I warned you this is a BEAR market. Look at the move yesterday and today all wiped out. Sorry to be so bearish but I warned my readers to SELL your stocks for months. Go long ultrashort shares and sell your stocks. We are just 147 points away for the 10000's. Please dont listen to your brokers because you will be BROKER!!. They dont make money when you sell so it is in their interested to tell you to stay in the market. OK don't want to hear that your 401k is now a 201K :):):).

Don't believe it, dont believe we at a bottom crap. This is my LAST warning!!!


MARKETJEDI--

Churn mode

Market in a churn your account mode here- NOTHING is moving to play here.

Today is not a futures friendly day, since I am mostly trading futures for the summer, so I will just sit back and watch till the market tips its hand

Jim Cramer-

Just passing some time and watched like 20 minutes of the knucklehead.
He said what I have been saying for awhile here that the financials are in serious trouble and some may go under. Geez Jim you so smart I thought he said buy Citibank @$23 geez what a play total idiot.
I personally like to play against those in the press like Jim because more than often they are WRONG. I do believe the financials are dead but I will say it here that I think they will bounce in here, yes I wouldn't be short here. Personally I would love for the SKF to come back in the $125-128 range to get long again and for stuff like MER to see $40 to set up a sweet short again.
IF and I say IF, since we are way oversold the Russell could see over 720 again as it has been showing relative strength to the S&P. The S&P could see 1365 and the DOW somewhere in the 11900-12200 area. I wil run these numbers later and give exact numbers to watch IF we do bounce.
Don't be tricked into investing as we are in a BEAR market and these bounces must be shorted or sold into if you are long, nothing more. I know the talking heads will come on when we bounce and are about 500 point higher that we successfully tested a double bottom and crap but dont believe it. For now we will play it close to the vest and play the bounce in this earnings season.
I think we crash and burn in the August-October time frame but we will see soon enough

Bulls are back?

Don't think so!! As we expected the rubberband to the down side has been stretch and we were expecting a bounce back somewhere in here. Now!!! the important technical question is where and how far do we go on this bounce. Tonight I will be doing come charts ot see what levels to watch.
Also importantly Oil gave us some firing power today to go higher. My only gripe with this was that with a $9 move down in Oil this is all the bulls could stage as a rally.
Remember earnings season start tomorrow and I expect us to have a slight upward bias throughout earnings season, so be careful on both side of the game till we get a clear sign

Is confidence lost??

The Market is at a major turning point when it comes to confidence. Has anyone noticed that the FED has said nothing in the last three weeks as we sink further into this sink hole. Bailing out Bear Sterns was the WORST movement the FED has ever done because now they must allow more influential institutions like Citibank, Fannie and Freddie to ultimately fail if they are in serious trouble.
I have been saying it for awhile the FED has no more ammunition and it is proving to be the right hypothesis here. I believe once Oil breaks $150 and the DOW reaches in the 10000 area which could happen this week or next we will get massive selling and HOPEFULLY capitulation.
For all those who dont want to believe we are in a recession stay in your dream world but I think the recession will last till a minimum Nov 2009 and possibly out to 2012. We aint seeing 14000 on the DOW people I said it when we were 13200. I said I believe we likely to see 10000 before 14000 when we were at 13000, I know I got laughed at but hey I got to stick by my analysis.

DOW 10000's

It is coming soon than you want to know.
I warned last two weeks to get out of the market or you will get crushed. I hope some of you listened. It is not looking pretty out there.

Market almost as UGLY as me :)

TRADE CALL UPDATE: TWM

Still holding 1/2 share here - HOLDING period, looking for higher on this although we up $19 on this 1/2..


Looking for more


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

FNM

My two favorite shorts are being cracked here !!!
FNM called it short @$33 said it would be $10 before year is up, being totally destroyed today, now trading @$15.60.
Citibank the other short is now trading @$16.

These calls are just amazing.


HOW YOU LIKE SKF????????.... called in the low 90's said it would goto all time highs. ::)

ONLY WINNERS HERE

ENER

Mentioned it last night wow on fire already. Geez

BOUNCE TIME>?

Hmmm maybe!!! As most of you know, I think somewhere here we will get a bounce going into earnings season. Earnings season usually have a bullish bias and as traders we should play it out inside the bigger picture. It is also very important to remember nothing goes in a straight line and thus a tradeable bounce here during earnings season would be great to reset some of the wonderful shorts we have riden down.
I have a few stocks up my sleeve when we do get confirmation of a bounce, I will send out trade calls on but one I really really love is ENER. Not a trade call here for tomorrow but keep on eye on it as I really love it. Currently trading @ $64.00 I can see this one going to $85 in a rush but I will send an email when I believe it is right to enter.
Keep on eye on the investment banks here for a bounce also. YES! they have been crushed and you all know my feelings about these stocks but I do believe they will get a sympathy bounce during earnings season especially LEH and GS. I am surely not betting the farm on longs here as we are looking very ugly here technically and at or close to the March lows on the indices.

S&P Target

There is a good chance we bounce in or into earnings. How far we go is the question as the new as been pretty terrible. S&P is now sitting almost @1250 which was where it was 2 yrs ago. I think when we bounce we will bounce very fast but will face selling again. For those who missed this nice downdraft we should flag or bounce and set up again.
My long term bear target on the S&P is 800 and 320 for the Russell at those levels the DOW will be below 9200. Hopefully we bounce soon but I am not one to catch falling knives. We goign to crash and burn soon and something tells me it will be in the August to October time frame before the elections.

One reason the rich remain rich

One reason the rich remain rich especially in the investment world is because they have a pipeline of capital available to them. Some of the richest hedge funds and private equity don't invest themselves but merely have access to capital and distribute it to people who can make money.
For example let say a large hedge fund or private equity has 5 billion they invest in 50 different ventures or managers hoping for a 10/100 bagger to cover the losses of the 30% that the don't make money on. This is how the big guys do it.
Lets look at Kirk Kerkorian who bought almost 10% of GM @ $30 average. He is one of the brightest investors in the investment world. Anyways how is his GM investment today
?????
How is Bank of America's Countrywide investment doing which they thought was an excellent investment @ $16 less than a year ago????
I can go on and on. These guy have nothing over us more than money. They throw money at 1000 stuff hoping 1 or 2 are blockbusters to simply wipe out the losses of the rest and that's there game. Non of them I tell you this will have a record of calling the market as I do for this blog or many traders I know. CAPITAL RULES, that's the story I am saying here, not smarts when it comes to real high end investing. Most of these guys dont even read a newspaper that's how pathetic they are but hey that's the name of the game.
Since we the regular investor don't have the access to huge capital we have to use out smarts and instincts and play as such.

HAVE A HAPPY JULY 4TH

MARKETJEDI

Job Numbers

Sitting down here tonight and wondering what the heck happened to the bulls today. I guess the GM news of possible bankruptcy and the possible poor job numbers are putting the bulls on a rest.
With all of this I see some fantastic opportunities setting up. I just want to get some volume set up to get us on board.
Not worry earnings season starts next week and we going to get some HUGE movers.

TRADE CALL UPDATE: IPI

Out last 1/4 share of IPI.. +$9.90.



ONLY WINNERS HERE-

Sweet

Seem the call for the bounce was right and that's why it is great to be traders as you get the profits. Market bouncing here 200 points and we took off most of our shorts for huge gains and 1/2 TWM long nice.
Market is very very oversold here so watch your shorts and we might be in alittle bounce formation for a couple of days.. MAYBE

TRADE CALL UPDATE :TWM

Selling 1/2 here +$13.

NICE 20% gain on that.

ONLY 1/2 SHARES.

Pre-Market

Seem like the bears are in full effect here before the open. News out of Europe of more banking fallout plus negative news on LEH (Lehman). Maybe we get a hard flush down in the few part of the day then reverse in the afternoon, which would be the ideal situation in my mind.

Again not much trading for me this week but maybe I do step in today if volume is good.