Well folks- I am saying it again. We are going lower. I got some hate mail :) from some people who are obviously upset because I said the market is doomed. Well I am just a poor technical analyst and I have no agenda but to tell the TRUTH. Market might have to do something like shut down for a day or two to stop the selling :) I believe the Treasury and Government might do something drastic like come into the market and buy futures to instill some confidence as there is no confidence in the market now but it wont help.
Someone asked me how far down I think we can go but I am reluctant to say it but here it goes.
DOW-4800 S&P: 525 Nasdaq: 750.
These are ultimate lows in this bear market and recession we will have. Now nothing goes in a straight line but those numbers will be seen. No bailout will save us, I have been saying it. We have dropped 200 points since they passed the bill. I said dont pass the bill but WHO AM I. Alot of people wont be able to retire because all of their networth will vanish in the next 5-7 years, some people who thought they were rich will be poor! This market wont recover anytime soon. I think we can be in no man's land for the next 12 years so for all the pundits who keep on saying BUY and dollar cost average go ahead, be my guess.
ONLY WAY TO MAKE MONEY IS TO TRADE!!!!
I hope we rally here soon and hard because I am going to make a killing. I am just buying time here my friends on the short side.
How about those plays on the blog. Huge winners!!!
Citibank SHORT- HUGE WINNER
FSLR SHORT - HUGE WINNER
REW LONG - HUGE WINNER
SKF LONG - HUGE WINNER
QCOM - doing nice
SNDK puts - Working!
MARKETJEDI
Thursday, October 9, 2008
MARKET
IF IF IF we close lower tomorrow it 'SUGGESTS' technical we will touch 7850 target on the DOW. 800 on the S&P
RISKY PLAY--
Dont play if you can't take the risk on this PERIOD. I dont want to hear if you lose.
SPY $94 CALLS- OCTOBER: $4.55
SPY $94 CALLS- OCTOBER: $4.55
DOW 8000'S
Yes folks we getting to my downside target I spoke about months ago when the market was @ 13000. I spoke about 8500 would be my first target on the downside. People said I was crazy.
941 target on the S&P HERE
941 target on the S&P HERE
TRADE CALL: FSLR short ($128.50)- UPDATE
THE PUTS CAN BE RIDDEN- But I would take 1/2 off here +$3.
As I said I prefer the stock short
As I said I prefer the stock short
TRADE CALL: FSLR short ($128.50)
FSLR short here @ $128.50
can also play the puts @ 12.50($130 October)QHB VZ , but prefer the stock short
can also play the puts @ 12.50($130 October)QHB VZ , but prefer the stock short
Thursday
We getting some upside momo here- I would not want to be short here. As said we are due for a bounce, lets see where we go
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