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
Tuesday, July 15, 2008
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
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.
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.
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.
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