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 !!!!!!!!!!!!!
Wednesday, December 31, 2008
Tuesday, December 30, 2008
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
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
Monday, December 29, 2008
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
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
Saturday, December 27, 2008
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.
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
MARKETJEDI
Tuesday, December 23, 2008
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
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
Monday, December 22, 2008
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
Stay tuned we planning to rock for 2009.
Our affiliated website will be up before the end of year...
MARKETJEDI
Sunday, December 21, 2008
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.
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.
Friday, December 19, 2008
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, December 18, 2008
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
MARKETJEDI
Wednesday, December 17, 2008
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
Tuesday, December 16, 2008
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
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 !!!
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..
Monday, December 15, 2008
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.
Sunday, December 14, 2008
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
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
Friday, December 12, 2008
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
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
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.
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.
Thursday, December 11, 2008
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
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!!
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
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
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.
Wednesday, December 10, 2008
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
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
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
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.
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.
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
Hmmmm I wonder if they are reading the blog :)
MARKETJEDI
Tuesday, December 9, 2008
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
Have a great day
MARKETJEDI
Monday, December 8, 2008
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
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!!!
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
Lets see where we finish up the day
TRADE CALL:BIDU
Already +$8 in less than an hour- rocking- no way you should lose on it. Take profits as it goes
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
Will update
Sunday, December 7, 2008
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
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
Saturday, December 6, 2008
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
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.
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
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.
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.
Friday, December 5, 2008
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
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.
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!!
$98.50
profit $5 sweet.
ONLY WINNERS HERE!!
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
Thursday, December 4, 2008
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
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!!!!!!!!!!!!!!!!!!!
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
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
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.
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.
Wednesday, December 3, 2008
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.
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.
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
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
Tuesday, December 2, 2008
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
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
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
Monday, December 1, 2008
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.
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.
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.
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.
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
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.
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