Yes folks- Got to read this blog to make the big money. We bounced exactly at the 823-833 range I quoted yesterday and most importantly ended above the 864 level, a level which the bulls are not giving up on.
So where do we stand? Well all gap downs should be bought period till the end of year. I definitely think we will test that 918 level and if we break it hard, look for 976/980 a level I really think we will hit before the next decline. Now we also have another upside project much higher up at 1072/1082 level but that could be a stretch and those numbers could not be in play till after the lows are hit in January and we move into a small bullish cycle afterwards.
I think that level would be fun fun fun as everyone will come out saying everything is A ok and them BAM! we sell off like what we did this year. Nothing is set in stone but I believe that 918 level and 978 zone is calling in the S&P. Yes folks I dont post a bunch of charts and stuff on my blog like most but I will give you what they can't!, exact figures, time lines and plays that WORK!!!. I think everyone think they are smart posting charts and stuff but they wont tell you anything to make money. I am trying to give you as plain as it can be and giving play ideas before so you can profit, not like these guess who are telling you after the fact.
Watch the tech stocks and Banks in the rally as they have been beaten down badly in the down draft. I hope they get GOOG back to the $400 level so we can have fun with it on the downside next year.
Stay Tuned.
The bulls are back at least for now!
MARKETJEDI
Friday, December 12, 2008
TRADE CALL: EBAY JAN $13 CALLS
QXBAK- trading @ $1.86. They expire January and please dont go hog wild.
MARKETJEDI
MARKETJEDI
TRADE CALL UPDATE :GS PUTS
Ok gs puts are here trading for $10.50- so they are now marginally profitable- take them off here
TRADE CALL UPDATE :GS PUTS
Ok guys it might open down around $3. Lets see where the options open and I will give out a trade on the options we own.
Jim Rogers
Jim Rogers, one of the world's most prominent international investors, on Thursday called most of the largest U.S. banks "totally bankrupt," and said government efforts to fix the sector are wrongheaded.
Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the Quantum Fund, said the government's $700 billion rescue package for the sector doesn't address how banks manage their balance sheets, and instead rewards weaker lenders with new capital.
Dozens of banks have won infusions from the Troubled Asset Relief Program created in early October, just after the Sept 15 bankruptcy filing by Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz). Some of the funds are being used for acquisitions.
"Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt," said Rogers, who is now a private investor.
Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the Quantum Fund, said the government's $700 billion rescue package for the sector doesn't address how banks manage their balance sheets, and instead rewards weaker lenders with new capital.
Dozens of banks have won infusions from the Troubled Asset Relief Program created in early October, just after the Sept 15 bankruptcy filing by Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz). Some of the funds are being used for acquisitions.
"Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt," said Rogers, who is now a private investor.
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