This market is on life support. The lies being thrown at the American public are unfolding and the more they are, the lower this market has to go. Thursday after the close Citibank (C) said that they are looking to sell themselves, or break themselves up and sell pieces. Do you know the last few companies that said the same thing before they went to ZERO (or close to it)? WB, WM, BSC, LEH, AIG. C sees under $1, I've said it for a very long time. Unfortunately I'm right. Right before C are, I believe, BAC, MER, MS, and my favorite GS, which is still absurdly overvalued. When GS is under $10, which I believe it will be, you can thank me. Those are a few, there are a TON more. Pundits continue to send their clients to market HELL with reckless abandon. The denial is thick, and it's only unfortunately going to get worse. Nothing goes in a straight line, but I am now officially moving my DOW target to a MINIMUM of 3500. I am quite sure we see my initial 4800 target, but I think we see a lot lower. We are in very serious trouble, folks and the more denial that runs rampant, the worse it'll be in the end. We will bounce shortly, but its unlikely to last very long. This market is in a hospice, it'll pop up and look like its doing better once in a while, only to then fall even lower. I'm sorry, I really am, but anyone who owns a SINGLE SHARE of stock is a SUCKER in my opinion. I think there's a good chance that we start to see some states go bankrupt, and for the US to be downgraded ratings wise. If China decides they need to stop buying our paper it's going to get a lot uglier. If they decide to call the debt, forget it, its over, the fat lady has sung and stick a fork in the US stock market for good. People ask, "but aren't the companies worth something?" The simple answer is - YES, and many are worth a LOT, there may even start to be some "values" simply because they are trading below their cash levels and making money (at least for now). BUT, there are so many companies that are debt laden and that is the biggest issue. For example, many of the energy names have huge debt obligations. When they can't meet them they have to try to borrow more money at a higher rate. If no one will lend them at a higher rate even they have to go bankrupt. Look at stocks like CHK, they carry huge debt loads in a declining market, the stock will probably go under or sink below $10 more than likely. Just because its "cheap" doesn't mean it's buyable.
Let me explain why what is happening wont work and the reason Paulson is clueless. We the tax payers loaned Citibank $25 Billion and we were told the tax payers would make money in the end on these deals. Well as of yesterday's close Citibank has market cap of $20 Billion, so how in hell are we goign to get back our $25 Billion when the company is not even worth that. Come on here folks we are being manipulated again and again by Washington and the elites but I am not falling for it.
Some of you owe me some christmas presents. You know who you are writing me and saying some of the plays are up 400% in a couple of days, well that what we should be doing and not listening to the talking heads.

Option plays this month on the blog have been on fire. Goldman puts were up over 200%, GOOGLE puts over 150%, SKF geez what can I say (recommended @$60 now $300)and next month we will rack them up even more. Ask the talking head how much they are making for their clients. ZERO they are losing because they dont have a clue.

MARKETJEDI