NEW PREDICTION

New Prediction DOW sub 5000 in 12 months!!!!!!!

Yes the Jedi said it. Remember he called DOW 6000 are when we were 12k?

Thoughts

Ok folks I have been very busy these last two weeks but here are my thoughts here. I believe we have close to a bottom if not at a bottom right now. I have noticed the action this week and the bears are taking profits the lower we go and that to be signals the downward pressure will soon subside. The weak long are being shaken out right now and when that is over, possibly between now and end of month we should go up.
The problem here is when does this all happen? I have a significant low in my analysis setting up in the next 2 weeks but I see many time cycle guys saying before next week, so I will use their projection instead of mine. A rally wont be a rally to DOW 12000 so dont look for any miracles as I said last year the market is broken major and need a long time to recover.
Citibank death, GE death ( read my post on Tuesday about huge put activity that was the signal GE was goign lower), WFC death and a whole lot more.

Careful here this is dangerous territory better to stay out till the dust settles.

MARKETJEDI

TRADE CALL UPDATE :WFC Short

This one is a double in two week but I think it got a little more downside. Lock in some profits here and ride the rest for free.

That one was too easy.

ONLY WINNERS

TRADE CALL UPDATE: FAZ

Long term play FAZ average price was $47 and I called it a double. Little did I know it would happen this soon, traded as high as $104 today. Now that's what we call a WINNER.


ONLY WINNERS HERE!!!!!!!!!!!!!!!

We called the death of Citibank 15 months ago when it was $30.

TRADE CALL UPDATE :FAZ

FAZ the IRA play is now officially a DOUBLE.

Racking them up here.


ONLY WINNERS

TRADE CALL UPDATE: WFC short

WFC short is now up 100% in two weeks. A double here folks on the call.

ONLY WINNERS.

Anyone see citibank our #1 short for 2008??

Thursday

Downgrades of WFC should help our short more this morning- Folks financials are so dead it is not funny. Not much else to say beside from tomorrow is jobs numbers and we will see how trade position themselves today in front of those numbers.