NEXT WEEK

Ok This week was like watching paint dry but obviously by the data coming in the economy is in serious trouble. Today two FED governors officially called the current climate as recessionary which they have been trying not to say. The fact are we have lost 1.2 million jobs this year so far and companies are posting dismal results.
AIG which we bailed out with tax payers money is now asking for more. The big three automakers are saying they need $50 Billion out of the $700 Billion in the next 120 days or they will be under. The banks are just buying time before the next earnings season which looks like it will be worst than ever.
The economy is toasted here as it has been raped by the abusers who leave us holding the bag and want us to pay for their mismanagement. How ironic is this, that capitalism is begging for socialization, hollywood could not have made a better flick :)

Next week we are going to test S&P 885 for sure, which is 55-60 point below. Over the weekend I will send out the exact points to watch but here is a list of stuff to trade if we cycle lower next week, which I think we will:

GOOG short:
TM short:
GS short look like it will hit my $75 again and heading to $50:
Citibank heading towards my $7 price very very soon.
FSLR looks like it want lower.

I will update over the weekend for sure with some option plays.

Job numbers out

Worst than expected 250k losses. the rate is up to 6.5% the biggest rate in 15 years.

Job Numbers

Job numbers will be out in 45 minutes. It looks like it is going to be a bad one but the futures are up. Currently we are alittle oversold from the last two days of selling, so we might shake off the bad news later and grind up but I am not putting much faith in this crazy market.