Thursday, September 18, 2008
Not Believe
I dont think Wall street believe this will help. It sounds crazy but I would not be surprised if we go red. The only problem is that today is triple witching expiration and that's the wild card..
SELLING
They have been selling us since the open. The bear flags are kicking in and now we are below the 10 am lows
Huge gap up
Huge gap up on the indices BUT I see some bear flags forming on some of the big time stocks. SO be careful
Error
Resistance is not 1275 as stated previously it is 1272 which is the .786 retracement on the S&P
SuperCommunist to save the DAY
We are socializing everything just to save a few wealthy people from getting less wealthy. Paulson is out to save his banking buddies and not the regular guy who business fails. I mean do you think you can get a bail out from Paulson. All his friends he is saving their net worth with this move especially his buddy from MS.
It is a disgrace and the public is so blinded.
OH well, we are up huge this morning and I believe we will hold the gain. We blew through the 50% retracement of 1245 on the S&P so next resistance is 1275, as of now the highs are 1257.75, so who know if we get there today, but if we get there before lunch I would short it there.
NO SHORTING on any financials for the next 2 weeks in this new socialized stock market, so I guess puts will be more expensive to play but I think it will be a good shot to buy SKF next week into the expiration of the ban. I think that will be a super play.
It is a disgrace and the public is so blinded.
OH well, we are up huge this morning and I believe we will hold the gain. We blew through the 50% retracement of 1245 on the S&P so next resistance is 1275, as of now the highs are 1257.75, so who know if we get there today, but if we get there before lunch I would short it there.
NO SHORTING on any financials for the next 2 weeks in this new socialized stock market, so I guess puts will be more expensive to play but I think it will be a good shot to buy SKF next week into the expiration of the ban. I think that will be a super play.
CRAZY
Folks let me start by saying this is just crazy. The intervention into the markets is nothing further from Capitalism, which I thought the USA was based upon. The crazy acts that are being implemented by the FED and SEC is totally communistic and down right irresponsible to the tax payers.
I wont rant on about all of this because I am tired but all of this is going to end really bad when all is said and done. As usual it is a band aid on the problem of greed and self interest that plagues Wall Street.
On the matter of no shorting by the SEC, I have one point to make. Ok we shouldn't short therefore we should just buy, why not just make it extreme and make it be we must only buy and never sell any stock we buy. I mean this is just crazy!!!!!!! I think there are some people who think this will make the DOW reach 30000 but let me tell you a little story, if the DOW ever reaches 20000 which I think it will never the US Dollar will be worth 30 cent to the Euro, so it mean nothing in real purchasing power that your stocks are all all time highs.
I think we are heading to a very very dark place when all of this plays out and will only create another bubble and deflation YES deflation when it is all over. Now folks dont get it twisted this is all a political move because the election is in a few weeks and nothing more and the underline problems of the market will remain.
I hope I am wrong but sorry I WON'T BE...
With the news this evening, we should gap up huge and have alot of shorts covering going into the weekend, but I have one thing to say and that's it. They thought it was the bottom when they intervened in Bear Sterns, they thought is was the bottom with Fannie, they thought is was the bottom in Lehman, now they will think this is NOW the bottom again. This time their is no bullets left and the next time we sell off there will be no saving us.....
For now it was a good call yesterday to get out of all the shorts. Actually one hell of a call maybe the best I have made but we will see how far up they push us.
Have a great trading day tomorrow
MARKETJEDI
I wont rant on about all of this because I am tired but all of this is going to end really bad when all is said and done. As usual it is a band aid on the problem of greed and self interest that plagues Wall Street.
On the matter of no shorting by the SEC, I have one point to make. Ok we shouldn't short therefore we should just buy, why not just make it extreme and make it be we must only buy and never sell any stock we buy. I mean this is just crazy!!!!!!! I think there are some people who think this will make the DOW reach 30000 but let me tell you a little story, if the DOW ever reaches 20000 which I think it will never the US Dollar will be worth 30 cent to the Euro, so it mean nothing in real purchasing power that your stocks are all all time highs.
I think we are heading to a very very dark place when all of this plays out and will only create another bubble and deflation YES deflation when it is all over. Now folks dont get it twisted this is all a political move because the election is in a few weeks and nothing more and the underline problems of the market will remain.
I hope I am wrong but sorry I WON'T BE...
With the news this evening, we should gap up huge and have alot of shorts covering going into the weekend, but I have one thing to say and that's it. They thought it was the bottom when they intervened in Bear Sterns, they thought is was the bottom with Fannie, they thought is was the bottom in Lehman, now they will think this is NOW the bottom again. This time their is no bullets left and the next time we sell off there will be no saving us.....
For now it was a good call yesterday to get out of all the shorts. Actually one hell of a call maybe the best I have made but we will see how far up they push us.
Have a great trading day tomorrow
MARKETJEDI
Awesome
Just awesome, those who dont believe in technical analysis are plain STUPID. Spoke about it yesterday that everything was set up for us to bounce today and yep we did. I have no idea about tomorrow as we have options expiration so it is not a gimme what they will do.
As of now S&P should have a upside target of 1224 which is the .50 retracement then 1245 which would be a nice short again. Lets see how it plays out
As of now S&P should have a upside target of 1224 which is the .50 retracement then 1245 which would be a nice short again. Lets see how it plays out
Government Intervention
Government intervention being talked about in the Real estate market.
Just like what saved the great depression housing
Just like what saved the great depression housing
Squeezing us
WE traded into the zone and now they are pushing us higher. As noted this is strong support
Crushing us here
They are crushing us here-
1130-1142 is a zone of support on the S&P. I think that zones hold for a bounce
1130-1142 is a zone of support on the S&P. I think that zones hold for a bounce
More Credit Problems
Money market funds catering to institutionals are closing due to run on the funds by large investors
Early Upside
As spoken about last night the expect bounce is here. The buying seem to be heavy in the Futures so as I said last night I do expect a bounce in here. Question is how much and how long
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